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    Property profile & analytics

    2138 Espey Ct Crofton, MD 21114-2495

    • Office buildings
    • 12,250 SF
    • 1.48 lot acres
    OFF-MARKET
    Value Estimations
    $1,890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1112436
    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

    • Horizon Land Company / Property Management Company
    • Severn Associates LLC / Construction Company / General Contractor
    • Belt Built Contracting LLC / Construction Company / General Contractor
    • Potomac Custom Remodeling / Roofing Company / General Contractor
    • AssuredPartners / Business Management Consultant

    Property Details for 2138 Espey Ct

    Year built
    1986
    Construction
    BRICK
    Lot size
    1.48 lot acres
    Property size
    12,250 SF
    Zone code
    W2
    Property type
    Office buildings
    APN
    02-000-90046042
    APU
    200090046042

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,525,000
      6.5%
      $1,410,000
      7%
      $1,310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,101,000
      Market price range: $2.10M - $3.76M

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

    Location Insight

    • Map
    • Local Demand
    City
    Crofton
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.7011
    Latitude
    38.9893
    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
    $12,430
    $962,100
    $176,200
    $1,138,300
    -
    $962,100
    $176,200
    $1,138,300

    Comparable in this City

    • Value Estimation
      $655,000
      2,040 SF

      1680 Vlg Grn

      OFFICE BUILDING • 2,040 SF
      1680 Vlg Grn, Crofton, MD 21114-2052
      View Details
    • Value Estimation by Request
      932 SF

      1654 Electric Ave

      OFFICE BUILDING • 932 SF
      1654 Electric Ave, Crofton, MD 21114-2407
      View Details
    • Value Estimation by Request
      1,447 SF

      1674 Vlg Grn

      OFFICE BUILDING • 1,447 SF
      1674 Vlg Grn, Crofton, MD 21114
      View Details
    • Value Estimation
      $4,410,000
      30,740 SF

      1657 Crofton Blvd

      OFFICE BUILDING • 30,740 SF
      1657 Crofton Blvd, Crofton, MD 21114-1352
      View Details
    • Value Estimation
      $1,525,000
      5,640 SF

      1682 Vlg Grn

      OFFICE BUILDING • 5,640 SF
      1682 Vlg Grn, Crofton, MD 21114-2056
      View Details
    • Value Estimation
      $875,000
      2,907 SF

      1656 Vlg Grn

      OFFICE BUILDING • 2,907 SF
      1656 Vlg Grn, Crofton, MD 21114-2014
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.02 Acres

      833.00\/month (plus utilities). NOT AVAILABLE UNTIL APRIL

      2025.""""}"""
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      Retail and Office Space Available

      Retail and office spaces available with high traffic and signage.
      1657 Crofton Blvd, Crofton, MD 21114
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    • $15,000,000

      Crofton Industrial Land for Sale

      10.38 acres of W-3 zoned industrial land near Rt 3.
      1230 Cronson Blvd, Crofton, MD 21114
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      1.65 Acres

      Crofton Retail Space - Prime Location

      Class A Office Building, Multiple Suites Available
      2191 Defense Hwy, Crofton, MD 21114
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,400 SF

      Single-Story Brick Office Building

      Office building for lease with easy highway access.
      2139 Espey Ct, Crofton, MD 21114
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building in a prime location.
      2191 Defense Hwy, Crofton, MD 21114
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Crofton, Maryland.
      1298 Cronson Blvd, Crofton, MD 21114
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at Crofton Center, Crofton, MD.
      1667 Crofton Ctr, Crofton, MD 21114
      View Details
    • Contact for pricing
      1,454 SF

      Flex Office/Warehouse Space Available

      36,000 SF flex building in Priest Bridge Business Park.
      2140 Priest Bridge Ct, Crofton, MD 21114
      View Details
    • Contact for pricing
      5,142 SF

      Professional Office Space Available

      Professional office space with flexible lease terms in Crofton, MD.
      2138 Priest Bridge Ct, Crofton, MD 21114
      View Details
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    Crofton, MD 21114-2495
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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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