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    Property profile & analytics

    217 Main St Reisterstown, MD 21136-1213

    • Office buildings
    • 3,286 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    May 09, 2024
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1477592
    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

    • Dr. Elsa I. Correa, MD / Physician
    • Emerald Health Center Inc / Physician / Medical Clinic
    • Chesapeake Behavioral Health Center, LLC / Crisis Center / Medical Clinic

    Property Details for 217 Main St

    Year built
    1965
    Construction
    BRICK
    Lot size
    0.24 lot acres
    Property size
    3,286 SF
    Zone code
    BL
    Property type
    Office buildings
    APN
    04-0418048640
    APU
    40418048640

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $992,000
      Market price range: $533k - $1.27M
      AI Estimate
      $852,000
      Market price range: $473k - $1.10M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $920,000
      Current use
      AUTO REPAIR, GARAGE
      $1,480,000
      Change: +61% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,090,000
      Change: +19% Conversion: Easy
      WAREHOUSE, STORAGE
      $850,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $745,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Reisterstown
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.8281
    Latitude
    39.4638
    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
    $3,103
    $0.00
    $0.00
    $467,967
    -
    $200,300
    $298,400
    $498,700

    Comparable in this City

    • Value Estimation
      $10,210,000
      47,500 SF

      100 Business Ctr Dr

      OFFICE BUILDING • 47,500 SF
      100 Business Ctr Dr, Reisterstown, MD 21136-1229
      View Details
    • Value Estimation
      $575,000
      1,603 SF

      65 Sacred Heart Ln

      OFFICE BUILDING • 1,603 SF
      65 Sacred Heart Ln, Glyndon, MD 21136-1122
      View Details
    • Value Estimation by Request
      1,361 SF

      2 Austin Rd

      OFFICE BUILDING • 1,361 SF
      2 Austin Rd, Reisterstown, MD 21136
      View Details
    • Value Estimation
      $500,000
      1,964 SF

      18 Hanover Rd

      OFFICE BUILDING • 1,964 SF
      18 Hanover Rd, Reisterstown, MD 21136-1019
      View Details
    • Value Estimation
      $670,000
      1,938 SF

      620 Main St

      OFFICE BUILDING • 1,938 SF
      620 Main St, Reisterstown, MD 21136-1910
      View Details
    • Value Estimation
      $925,000
      3,092 SF

      634 Main St

      OFFICE BUILDING • 3,092 SF
      634 Main St, Reisterstown, MD 21136-1910
      View Details

    Similar Nearby for Sale

    • $355,000
      0.32 Acres

      Versatile Commercial Property in Reisterstown

      CB-zoned property suitable for retail, office, or service businesses.
      635 Main St, Reisterstown, MD 21136
      View Details
    • $575,000

      Land Parcel For Sale

      Two-acre land parcel available for purchase.
      11640 Red Run Blvd, Reisterstown, MD 21136
      View Details
    • $599,747
      1.13 Acres

      Residential Land in Medford Community

      Large lot in sought-after community with well in place.
      1 Norfolk Ct, Reisterstown, MD 21136
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,637 SF

      Class A Turn-Key Office

      Turn-key Class A office space available for lease.
      11620 Red Run Blvd, Reisterstown, MD 21136
      View Details
    • $2,500 /Mo

      Versatile Office Space on Reisterstown

      Adaptable office space with high visibility on Reisterstown Road.
      11809 -Front Reisterstown, Reisterstown, MD 21136
      View Details
    • $2,500 /Mo
      47,480 SF

      Reisterstown Commercial Space For Lease

      Versatile space suitable for medical, retail, or office use.
      11809-Front Reisterstown, Reisterstown, MD 21136
      View Details
    • Contact for pricing

      Reisterstown Business Center Flex Space

      Flex/R&D space in historic Reisterstown, Baltimore County.
      100-346 Business Center Dr, Reisterstown, MD 21136
      View Details
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    217 Main St
    Reisterstown, MD 21136-1213
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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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