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    2203 Philadelphia Rd Edgewood, MD 21040-1109
    Property profile & analytics

    2203 Philadelphia Rd, Edgewood, MD 21040-1109

    View on Map
    • Retail space
    • 4,420 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US40-0063536
    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.
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Global Healthcare Systems / Medical Clinic
    • Temitayo Olaniyi / Physician

    Property Details for 2203 Philadelphia Rd

    Year built
    1964
    Construction
    BRICK
    Lot size
    0.30 lot acres
    Zone code
    B1
    Property type
    Retail space
    APN
    01-067745
    APU
    1067745

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 26, 2025 — Michael Fowowe — Deed · related $403k · Velocity Community FCU
    Oct 26, 2007 $615,000 Michael Fowowe James R Ward Deed —
    Dec 5, 2001 $225,000 James R Ward Nelson,howard W & Caroline R Grant Deed · related $175k · Howard W & Caroline R Nelson

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $934,000
      Market price range: $807k - $1.55M
      AI Estimate
      $491,000
      Market price range: $175k - $1.01M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,100,000
      Current use
      COMMERCIAL (GENERAL)
      $1,015,000
      Change: -8% Conversion: Easy
      OFFICE BUILDING
      $890,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewood
    County
    Harford
    State
    Maryland
    Longitude
    -76.3086
    Latitude
    39.445
    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
    2022
    $7,292
    $437,100
    $237,400
    $674,500
    -
    $437,100
    $237,400
    $674,500

    Comparable in this City

    • Value Estimation by Request
      800 SF

      328 Flying Pt Rd, Unit 5

      RETAIL STORES (PERSONAL SERVICES)
      328 Flying Pt Rd, Edgewood, MD 21040
      View Details
    • Value Estimation
      $3,125,000
      14,735 SF

      1930 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      1930 Pulaski Hwy, Edgewood, MD 21040-1612
      View Details
    • Value Estimation
      $1,500,000
      11,375 SF

      2013 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2013 Pulaski Hwy, Edgewood, MD 21040-1613
      View Details
    • Value Estimation by Request
      1,590 SF

      1706 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      1706 Pulaski Hwy, Edgewood, MD 21040-1608
      View Details
    • Value Estimation by Request
      1,021 SF

      2108 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2108 Pulaski Hwy, Edgewood, MD 21040-1616
      View Details
    • Value Estimation by Request
      1,690 SF

      1115 Paul Martin Dr

      RETAIL STORES (PERSONAL SERVICES)
      1115 Paul Martin Dr, Edgewood, MD 21040-1201
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space in Edgewood, Maryland

      Proposed retail development with frontage on Edgewood Road.
      505-511 Edgewood Rd, Edgewood, MD 21040
      View Details
    • Contact for pricing
      0.54 Acres

      Edgewood Retail Space - Pulaski Hwy

      High-traffic retail space, excellent visibility.
      1711 Pulaski Hwy, Edgewood, MD 21040
      View Details
    • $350,000

      Prime Commercial Land For Sale

      0.91-acre commercial land with high visibility and traffic.
      2707 Pulaski Hwy, Edgewood, MD 21040
      View Details
    • Contact for pricing

      Renovated Service Warehouse with Office

      3,035 SF renovated service warehouse with convenient highway access.
      405 Laburnum Rd, Edgewood, MD 21040
      View Details
    • Contact for pricing
      3.85 Acres

      Edgewood Flex Space - Route 40

      1312 sq ft flex space, prime location.
      2714 Pulaski Hwy, Edgewood, MD 21040
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,870 SF

      Dominant Shopping Center Retail Space

      Retail space available in a dominant shopping center.
      2250 Hanson Rd, Edgewood, MD 21040
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Edgewood Center

      Retail space available in community shopping center on Route 40.
      1851 Pulaski Hwy, Edgewood, MD 21040
      View Details
    • Contact for pricing
      1,950 SF

      Retail Space For Lease

      Retail space available for lease with great access and visibility.
      1928 Pulaski Hwy, Edgewood, MD 21040
      View Details
    • Contact for pricing
      3,300 SF

      Route 40 Retail/Warehouse Space

      Retail and warehouse space available on Route 40.
      2710 Pulaski Hwy, Edgewood, MD 21040
      View Details
    • $3,988 /Mo
      23,522 SF

      Retail Space on Pulaski Highway

      2,900 SF retail space available on busy Pulaski Highway.
      1711 Pulaski Hwy, Edgewood, MD 21040
      View Details
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    Edgewood, MD 21040-1109
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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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