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    Property profile & analytics

    2109 Greenspring Dr Timonium, MD 21093-3157

    • Retail space
    • 2,094 SF
    • 0.80 lot acres
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1417936
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2109 Greenspring Dr

    Year built
    1974
    Construction
    BRICK
    Lot size
    0.80 lot acres
    Property size
    2,094 SF
    Zone code
    ML-IM
    Property type
    Retail space
    APN
    08-1600009635
    APU
    81600009635

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $676,000
      Market price range: $232k - $677k
      AI Estimate
      $417,000
      Market price range: $109k - $417k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $445,000
      Current use
      COMMERCIAL (GENERAL)
      $695,000
      Change: +56% Conversion: Easy
      WAREHOUSE, STORAGE
      $540,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $495,000
      Change: +11% Conversion: Easy
      MEDICAL BUILDING
      $475,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Timonium
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6319
    Latitude
    39.4407
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,507
    $0.00
    $0.00
    $1,047,800
    -
    $714,900
    $450,900
    $1,165,800

    Comparable in this City

    • Value Estimation
      $1,665,000
      7,475 SF

      10024 York Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,475 SF
      10024 York Rd, Lutherville Timonium, MD 21093
      View Details
    • Value Estimation
      $600,000
      2,295 SF

      1740 York Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,295 SF
      1740 York Rd, Lutherville, MD 21093-5606
      View Details
    • Value Estimation
      $1,145,000
      4,734 SF

      20089 Fls Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,734 SF
      20089 Fls Rd, Timonium, MD 21093
      View Details
    • Value Estimation
      $3,690,000
      14,135 SF

      31 Timonium Rd

      RETAIL STORES (PERSONAL SERVICES) • 14,135 SF
      31 Timonium Rd, Lutherville Timonium, MD 21093-3423
      View Details
    • Value Estimation
      $1,085,000
      4,154 SF

      2312 York Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,154 SF
      2312 York Rd, Timonium, MD 21093-2214
      View Details
    • Value Estimation by Request
      2,320 SF

      2007 York Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,320 SF
      2007 York Rd, Lutherville, MD 21093-4228
      View Details

    Similar Nearby for Sale

    • $450,000

      Residential Office Building on Corner

      Residential office building on corner lot with parking.
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      Mays Chapel Specialty Property

      Specialty property available for sale in Mays Chapel, Maryland.
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      High Visibility Office Space For Sale

      Office space with high traffic and flexible configuration.
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    • $7,499,000

      LUTHERVILLE TIMONIUM Specialty Property ForSale

      Specialty property in LUTHERVILLE TIMONIUM, MD for sale.
      1208 Scotts Knoll Ct, Lutherville Timonium, MD 21093
      View Details
    • $3,250,000
      17.12 Acres

      LUTHERVILLE TIMONIUM Buildable Acreage

      17.12 acres in LUTHERVILLE TIMONIUM, MD, ready for development.
      Kelley Ave, Lutherville Timonium, MD 21093
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    • $2,250,000

      Specialty Property For Sale

      Specialty property available for purchase.
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    Similar Nearby for Lease

    • Contact for pricing
      1,321 SF

      Retail Space in Grand York Plaza

      Retail space available in renovated Lutherville-Timonium shopping center.
      1811 York Rd, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      1,321 SF

      Retail Space in Grand York Plaza

      Retail space available in renovated Lutherville-Timonium shopping center.
      1815-1819 York Rd, Lutherville Timonium, MD 21093
      View Details
    • $34 SF/Yr

      High-Visibility Retail Space Available

      2,500 SF retail space in high-traffic Timonium location.
      2165 York Rd, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing

      York Road Retail Space Available

      Highly visible 3,895 SF retail space on York Road.
      2045 York Rd, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      3,269 SF

      Roundwood Shopping Center: Timonium Retail Space

      Prime Timonium Retail Space - 3,269 SF Available
      12200-12254 Tullamore Rd, Timonium, MD 21093
      View Details
    • Contact for pricing
      4,496 SF

      York Road Office Building Investment

      Timonium Office Space: 840 SF Available
      1629 York Rd, Timonium, MD 21093
      View Details
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    Timonium, MD 21093-3157
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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