Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24 Pennsylvania Ave Towson, MD 21204-5012

    • Commercial real estate
    • 5,295 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Feb 07, 2020
    $500,000
    Value Estimations
    $685,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1200940
    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

    • Commercial real estate

    Property Details for 24 Pennsylvania Ave

    Year built
    1926
    Construction
    BRICK
    Lot size
    0.21 lot acres
    Property size
    5,295 SF
    Zone code
    BMCT
    Property type
    Commercial real estate
    APN
    09-0916150811
    APU
    90916150811

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $620,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Towson
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6043
    Latitude
    39.401
    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
    $3,166
    $0.00
    $0.00
    $500,533
    -
    $499,500
    $30,100
    $529,600

    Comparable in this City

    • Value Estimation by Request
      10,884 SF

      1810 Landrake Rd

      Commercial real estate • 10,884 SF
      1810 Landrake Rd, Towson, MD 21204
      View Details
    • Value Estimation by Request
      0.09 Acres

      705 Washington Ave

      COMMERCIAL (GENERAL) • 0.09 Acres
      705 Washington Ave, Towson, MD 21204
      View Details
    • Value Estimation by Request
      0.20 Acres

      623 York Rd

      COMMERCIAL (GENERAL) • 0.20 Acres
      623 York Rd, Towson, MD 21204
      View Details
    • Value Estimation by Request
      3.44 Acres

      2 York Rd

      COMMERCIAL (GENERAL) • 3.44 Acres
      2 York Rd, Baltimore, MD 21204-5212
      View Details
    • Value Estimation by Request
      0.40 Acres

      401 York Rd, Unit 3

      COMMERCIAL CONDOMINUIM • 0.40 Acres
      401 York Rd, Baltimore, MD 21204-5124
      View Details
    • Value Estimation by Request
      0.00 Acres

      120 Sister Pierre Dr Ste, Unit 304

      COMMERCIAL CONDOMINUIM • 0.00 Acres
      120 Sister Pierre Dr Ste, Towson, MD 21204-7526
      View Details

    Similar Nearby for Sale

    • $2,200,000
      10,884 SF

      Historic Towson Mansion - Prime Location

      16-Bedroom Mansion, 1.35 Acres, High Demand
      1810 Landrake Rd, Towson, MD 21204
      View Details
    • $368,900

      Winsford Road Specialty Property

      Specialty property available for purchase on Winsford Road.
      1027 Winsford Rd, Towson, MD 21204
      View Details
    • $2,545,000
      16,800 SF

      Retail Property on Joppa Road

      Fully leased retail property in a high-traffic Baltimore location.
      1836-1842 E Joppa Rd, Baltimore, MD 21204
      View Details
    • $254,800
      1,960 SF

      Towson Office Space For Sale

      1960 square foot office space available in Towson, Maryland.
      7600 Osler Dr, Towson, MD 21204
      View Details
    • $459,900

      Baltimore Specialty Property For Sale

      Specialty property available for purchase in Baltimore, Maryland.
      15 Lacosta Ct, Baltimore, MD 21204
      View Details
    • $3,150,000

      RUXTON Rd Specialty Property

      Specialty property available for sale in Towson, Maryland.
      1926 Ruxton Rd, Baltimore, MD 21204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      240,000 SF

      Towson Square Retail Space Available

      Prime Towson retail space, multiple units.
      0 Towson Sq, TOWSON, MD 21204
      View Details
    • $750 /Mo

      Towson Retail/Office Space Available

      Retail or office space for rent in Towson, Maryland.
      307 W Pennsylvania Ave, Baltimore, MD 21204
      View Details
    • $21 SF/Yr
      3,652 SF

      Charleswood Office Space For Rent

      Office space in a prime location for small to medium businesses.
      8422 Bellona Ln, Towson, MD 21204
      View Details
    • $930 /Mo

      Towson Office Space For Lease

      513 SF office space in convenient Towson location.
      604-606 Bosley Ave, Baltimore, MD 21204
      View Details
    • $850 /Mo

      Office Suite with Private Entrance

      Ground floor office suite with shared amenities for rent.
      212 Bosley Ave, Baltimore, MD 21204
      View Details
    • $18 SF/Yr
      2,900 SF

      Towson Office Space Available

      2900 SF office space for lease in Towson.
      22 Allegheny Ave, Towson, MD 21204
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24 Pennsylvania Ave
    Towson, MD 21204-5012
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.