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    Property profile & analytics

    215 Ritchie Ln Glen Burnie, MD 21061-3033

    • Warehouses
    • 37,182 SF
    • 1.16 lot acres
    OFF-MARKET
    Value Estimations
    $10,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1562159
    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

    • Singer Services Inc / (Bike/Boat/Book/etc) Store
    • Kelbie Home Improvement, Inc MHIC 46033 / Roofing Company / General Contractor
    • Drill Tech Inc / Industrial Manufacturer
    • 24 Hour Appliance Repair / Hardware & Home Improvement / HVAC Service
    • All State Plumbing Heating / Hardware & Home Improvement / HVAC Service

    Property Details for 215 Ritchie Ln

    Year built
    1982
    Lot size
    1.16 lot acres
    Property size
    37,182 SF
    Zone code
    TC
    Property type
    Warehouses
    APN
    05-326-90037921
    APU
    532690037921

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,399,000
      Market price range: $5.65M - $20.5M
      AI Estimate
      $9,146,000
      Market price range: $1.75M - $17.8M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $12,400,000
      Current use
      AUTO REPAIR, GARAGE
      $15,815,000
      Change: +28% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $15,580,000
      Change: +26% Conversion: Easy
      RETAIL STORES
      $15,410,000
      Change: +24% Conversion: Moderate
      MEDICAL BUILDING
      $13,615,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Burnie
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6229
    Latitude
    39.1661
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $10,320,000
      35,464 SF

      510 Mccormick Dr

      WAREHOUSE, STORAGE • 35,464 SF
      510 Mccormick Dr, Glen Burnie, MD 21061-3283
      View Details
    • Value Estimation
      $16,690,000
      32,400 SF

      500 Mccormick Dr

      WAREHOUSE, STORAGE • 32,400 SF
      500 Mccormick Dr, Glen Burnie, MD 21061-3223
      View Details
    • Value Estimation
      $6,275,000
      22,665 SF

      7535 Ritchie Hwy

      WAREHOUSE, STORAGE • 22,665 SF
      7535 Ritchie Hwy, Glen Burnie, MD 21061-3716
      View Details
    • Value Estimation by Request
      616 SF

      Florida Ave

      WAREHOUSE, STORAGE • 616 SF
      Florida Ave, Glen Burnie, MD 21061
      View Details
    • Value Estimation
      $29,115,000
      234,493 SF

      6950 Aviation Blvd

      WAREHOUSE, STORAGE • 234,493 SF
      6950 Aviation Blvd, Glen Burnie, MD 21061-2531
      View Details
    • Value Estimation
      $28,140,000
      67,095 SF

      612 Crain N Hwy

      MINI-WAREHOUSE, STORAGE • 67,095 SF
      612 Crain N Hwy, Glen Burnie, MD 21061-3044
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Contractor's Yard Near BWI Airport

      Contractor's yard with easy access to Baltimore and DC.
      1107 Dorsey Rd, Glen Burnie, MD 21061
      View Details
    • $899,900
      1.43 Acres

      Glen Burnie C-2 Opportunity Land

      Highly visible 1.43 acre C-2 land near Marley Station Mall.
      7911 Ritchie Hwy, Glen Burnie, MD 21061
      View Details
    • $535,000
      3,479 SF

      Glen Burnie Specialty Property

      3,479 SF specialty property available for sale.
      428 N Crain Hwy, Glen Burnie, MD 21061
      View Details
    • $650,000
      0.40 Acres

      Glen Burnie Commercial Property

      C3 zoned property suitable for retail or office use.
      402 Crain Hwy N, Glen Burnie, MD 21061
      View Details
    • Contact for pricing

      Glen Burnie Commercial Lot For Sale

      Commercial lot with high visibility and utilities in place.
      99 Heather Stone Way, Glen Burnie, MD 21061
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Glen Burnie Warehouse Space

      Warehouse space available for lease in Glen Burnie, MD.
      509 Mccormick Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      112,500 SF

      Warehouse Near BWI Airport

      Warehouse space in the International Trade Center Business Park.
      515-521 Mccormick Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      5,520 SF

      Glen Burnie Warehouse Space Available

      8,760 SF warehouse with office space for lease.
      806 Cromwell Park Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      6,014 SF

      Glen Burnie Flex/Warehouse Space

      Flex/warehouse space near BWI Airport with drive-in doors.
      6958 Aviation Blvd, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      4,480 SF

      Glen Burnie Flex Space

      Flex/R&D space near BWI Airport with easy highway access.
      883 Airport Park Rd, Glen Burnie, MD 21061
      View Details
    • Contact for pricing

      Flex Space Near BWI Airport

      120,600 SF flex/office space near BWI Airport.
      6956 Aviation Blvd, Glen Burnie, MD 21061
      View Details

    Property Visit Statistics

    • Visits by month
      4.3k
    • Visitors by month
      3.9k
    • Avg Time on site
      41 min
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    Glen Burnie, MD 21061-3033
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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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