Add Listing
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

    2440 Grays Rd Baltimore, MD 21222-5065

    • Manufacturing properties
    • 36,500 SF
    • 13.64 lot acres
    OFF-MARKET
    Value Estimations
    $3,270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1185676
    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

    • Amtrol Inc / Hydroelectric Power Plant

    Property Details for 2440 Grays Rd

    Year built
    1980
    Construction
    BRICK
    Lot size
    13.64 lot acres
    Property size
    36,500 SF
    Zone code
    MHIM
    Property type
    Manufacturing properties
    APN
    15-1800012272
    APU
    151800012272

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,360,000
      6.5%
      $3,100,000
      7%
      $2,880,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,602,000
      Market price range: $1.95M - $6.90M
      AI Estimate
      $3,103,000
      Market price range: $683k - $6.40M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,995,000
      Current use
      MEDICAL BUILDING
      $5,305,000
      Change: +33% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.461
    Latitude
    39.2472
    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
    $12,664
    $1,188,200
    $811,600
    $1,999,800
    -
    $1,188,200
    $811,600
    $1,999,800

    Comparable in this City

    • Value Estimation
      $9,835,000
      120,288 SF

      6 Pt Ter

      MANUFACTURING (LIGHT) • 120,288 SF
      6 Pt Ter, Baltimore, MD 21222-2416
      View Details
    • Value Estimation
      $16,865,000
      257,695 SF

      3600 Pt Blvd

      MANUFACTURING (LIGHT) • 257,695 SF
      3600 Pt Blvd, Baltimore, MD 21222-2726
      View Details
    • Value Estimation
      $15,060,000
      285,550 SF

      8203 Fischer Rd

      MANUFACTURING (LIGHT) • 285,550 SF
      8203 Fischer Rd, Baltimore, MD 21222-3638
      View Details
    • Value Estimation
      $1,900,000
      8,300 SF

      7910 Stansbury Rd

      MANUFACTURING (LIGHT) • 8,300 SF
      7910 Stansbury Rd, Baltimore, MD 21222-5523
      View Details
    • Value Estimation
      $1,765,000
      16,560 SF

      4054 Pt Rd

      MANUFACTURING (LIGHT) • 16,560 SF
      4054 Pt Rd, Baltimore, MD 21222-3653
      View Details
    • Value Estimation
      $1,260,000
      13,527 SF

      8225 Fischer Rd

      MANUFACTURING (LIGHT) • 13,527 SF
      8225 Fischer Rd, Baltimore, MD 21222-3655
      View Details

    Similar Nearby for Sale

    • $1,200,000
      11,400 SF

      6526 Baltimore Ave

      Building property for sale in Baltimore, MD
      6526 Baltimore Ave, Baltimore, MD 21222
      View Details
    • $500,000
      Pending

      Versatile Commercial Building with Three Units

      Commercial building with three units, parking, and convenient location.
      7723 Trappe Rd, Dundalk, MD 21222
      View Details
    • $184,900

      Baltimore Specialty Property for Sale

      Specialty property available for purchase in Baltimore, Maryland.
      16 Portship Rd, Baltimore, MD 21222
      View Details
    • $65,000

      Spacious Mobile Home in Baltimore

      Two-bedroom mobile home in quiet Baltimore community.
      901 Forwood Ct, Baltimore, MD 21222
      View Details
    • $77,990
      1,050 SF

      Single Wide Mobile Home

      Three-bedroom mobile home with open layout, affordable price.
      715 Gregwood Ct, Baltimore, MD 21222
      View Details
    • $139,900

      Specialty Property in Dundalk

      Specialty property available for sale in Dundalk, Maryland.
      86 Kinship Rd, Dundalk, MD 21222
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      23,000 SF

      Dundalk Flex Space for Lease

      Industrial flex space, multiple suites available.
      2819 Point Blvd, Dundalk, MD 21222
      View Details
    • Contact for pricing
      1,200 SF

      Prime Flex Space in Baltimore County

      1,200 SF Flex Space, Ample Parking
      8011 Pinewood Rd, Dundalk, MD 21222
      View Details
    • Contact for pricing

      Industrial Space with Ample Parking

      Industrial space for lease near major highways with ample parking.
      1113 North Northpoint Rd, Dundalk, MD 21222
      View Details
    • Contact for pricing
      4,000 SF

      2711 Point Blvd

      Flex space • 4,000 SF
      2711 Point Blvd, Dundalk, MD 21222
      View Details
    • Contact for pricing
      120,000 SF

      Baltimore Flex / Industrial Space

      120,000 SF flex/industrial space available for lease.
      2590 Dundalk Ave, Baltimore, MD 21222
      View Details
    • Contact for pricing
      1,800 SF

      Restaurant Space in Dundalk, MD

      2,000 SF restaurant space available for lease.
      1115 Merritt Blvd, Dundalk, MD 21222
      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.
    2440 Grays Rd
    Baltimore, MD 21222-5065
    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.
    Sign Up Successful!
    You now have access to more from Realmo!