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    Property profile & analytics

    2324 Sparrows Point Rd Baltimore, MD 21219

    • Grocery and convenience stores
    • 3,080 SF
    • 1.49 lot acres
    For Lease
    View listing
    Last Sale
    Apr 27, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0645970
    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

    • Grocery and convenience stores

    Property Details for 2324 Sparrows Point Rd

    Year built
    1973
    Construction
    BRICK
    Lot size
    1.49 lot acres
    Property size
    3,080 SF
    Zone code
    BL
    Property type
    Grocery and convenience stores
    APN
    15-1504002510
    APU
    151504002510

    Description

    This exceptional retail storefront opportunity is located at 2324 Sparrows Point Road in Baltimore, Maryland, within Baltimore County. The property, built in 1973, offers a single-tenant occupancy space totaling 2,800 square feet of vacant area. Ideal for a variety of retail uses, this storefront presents a significant chance to establish a presence in a well-established Baltimore neighborhood. The property is zoned for retail use, however, please note that convenience stores are not permitted on this site. This presents a unique opportunity for businesses seeking a high-visibility location without direct competition from convenience stores. The address is easily accessible, offering excellent visibility and convenient access for customers. The property's location in Baltimore County, Maryland, provides access to a substantial customer base and strong local infrastructure. With its ample square footage and prime location, this storefront is perfectly suited for a variety of retail ventures. Interested parties should inquire promptly to secure this exceptional opportunity. The zip code for this property is 21219.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $830,000
      6.5%
      $765,000
      7%
      $710,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $506,000
      Market price range: $334k - $752k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $565,000
      Current use
      AUTO REPAIR, GARAGE
      $710,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $635,000
      Change: +12% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $510,000
      Change: -10% Conversion: Easy
      WAREHOUSE, STORAGE
      $470,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.4568
    Latitude
    39.233
    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
    $6,988
    $232,800
    $841,500
    $1,074,300
    -
    $232,800
    $841,500
    $1,074,300

    Comparable in this City

    • Value Estimation
      $4,070,000
      33,698 SF

      7514 Pt Rd

      GROCERY, SUPERMARKET • 33,698 SF
      7514 Pt Rd, Baltimore, MD 21219-1412
      View Details
    • Value Estimation
      $1,625,000
      6,148 SF

      19 Bethlehem Blvd

      CONVENIENCE STORE • 6,148 SF
      19 Bethlehem Blvd, Baltimore, MD 21219
      View Details
    • Value Estimation
      $870,000
      1,040 SF

      5100 Pt Blvd

      CONVENIENCE STORE • 1,040 SF
      5100 Pt Blvd, Sparrows Point, MD 21219
      View Details
    • Value Estimation by Request
      2,000 SF

      Main Ave

      CONVENIENCE STORE • 2,000 SF
      Main Ave, Sparrows Point, MD 21219
      View Details
    • Value Estimation
      $1,435,000
      5,250 SF

      4401 Pt Blvd

      CONVENIENCE STORE • 5,250 SF
      4401 Pt Blvd, Baltimore, MD 21219-1003
      View Details
    • Value Estimation by Request
      1,500 SF

      7214 Pt Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      7214 Pt Rd, Baltimore, MD 21219-1304
      View Details

    Similar Nearby for Sale

    • $90,000
      0.26 Acres

      Sparrows Point Land For Sale

      0.26 acre lot in Sparrows Point, Maryland.
      Lodge Farm Rd, Sparrows Point, MD 21219
      View Details
    • $765,000

      Fully Leased Apartment Building

      Seven-unit apartment building with updated kitchens and bathrooms.
      2722 Lodge Farm Rd, Edgemere, MD 21219
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    • $360,000
      2.42 Acres

      Millers Island Land Opportunity

      2.42 acres of raw land near Chesapeake Bay.
      9TH 382-387, Sparrows Point, MD 21219
      View Details
    • $765,000

      Fully Leased Apartment Building

      Seven-unit apartment building with updated kitchens and bathrooms.
      2722 Lodge Farm Rd, Edgemere, MD 21219
      View Details
    • $765,000

      Fully Leased Apartment Building

      Seven-unit apartment building with updated kitchens and bathrooms.
      2722 Lodge Farm Rd, Sparrows Point, MD 21219
      View Details

    Similar Nearby for Lease

    • $975 /Mo
      7,841 SF

      Sparrows Point Road Commercial Space

      Highly visible commercial space suitable for office or retail use.
      2417 Sparrows Point Rd, Baltimore, MD 21219
      View Details
    • Contact for pricing
      2,400 SF

      Baltimore Retail Storefront For Lease

      2,800 SF Vacant Retail Space in Baltimore
      2324 Sparrows Point Rd, Baltimore, MD 21219
      View Details
    • Contact for pricing

      Baltimore County East Space Available

      2,400 SF of space available for lease in Baltimore County.
      Baltimore, MD 21219
      View Details
    • Contact for pricing
      2,372 SF

      Sparrows Point Office Space Available

      Office space available for lease in Sparrows Point, Maryland.
      6302 N Point Rd, Sparrows Point, MD 21219
      View Details
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    Baltimore, MD 21219
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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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