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    255 Najoles Rd Millersville, MD 21108
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    Property profile & analytics

    255 Najoles Rd Millersville, MD 21108

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    • Office buildings
    • 6,494 SF
    • 4.08 lot acres
    For Lease
    $4,155,000
    View Listing →
    Millersville Office and Flex Space For Lease
    $4,155,000
    9,600 SF

    Millersville Office and Flex Space

    Office and flex space in convenient business park location.

    255 Najoles Rd, Millersville, MD
    View Listing
    Property ID
    US40-1710044
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Safe Harbor Christian Counseling / Psychologist / Social Worker
    • CFM Engineering / Engineer
    • The Well - A Vineyard Church / Church
    • Vineyard Child Care Center / Daycare Center / Foster Care Service

    Property Details for 255 Najoles Rd

    Year built
    2001
    Construction
    BRICK
    Lot size
    4.08 lot acres
    Property size
    6,494 SF
    Zone code
    W1
    Property type
    Office buildings
    APN
    04-000-90101713
    APU
    400090101713

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,250,000
      Current use
      RESTAURANT
      $3,155,000
      Change: -3% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,760,000
      Change: -15% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,720,000
      Change: -16% Conversion: Difficult
      RETAIL STORES
      $2,690,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Millersville
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6298
    Latitude
    39.0919
    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
    $38,429
    $0.00
    $0.00
    $3,519,167
    -
    $825,800
    $2,973,900
    $3,799,700

    Comparable in this City

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      View Details
    • Value Estimation
      $1,760,000
      5,000 SF

      8432 Veterans Hwy

      OFFICE BUILDING • 5,000 SF
      8432 Veterans Hwy, Millersville, MD 21108-1403
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    • Value Estimation
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      1,188 SF

      8694 Veterans Hwy

      OFFICE BUILDING • 1,188 SF
      8694 Veterans Hwy, Millersville, MD 21108-1455
      View Details
    • Value Estimation
      $1,090,000
      8,728 SF

      8530 Veterans Hwy

      OFFICE BUILDING • 8,728 SF
      8530 Veterans Hwy, Millersville, MD 21108-2646
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    • Value Estimation by Request
      2,880 SF

      8059 Veterans Hwy

      OFFICE BUILDING • 2,880 SF
      8059 Veterans Hwy, Millersville, MD 21108-1493
      View Details
    • Value Estimation
      $500,000
      783 SF

      8334 Veterans Hwy

      OFFICE BUILDING • 783 SF
      8334 Veterans Hwy, Millersville, MD 21108-2524
      View Details

    Similar Nearby for Sale

    • $550,000
      1,152 SF

      Millersville Office Building For Sale

      Office building with easy access to major routes and amenities.
      8642 Veterans Hwy, Millersville, MD 21108
      View Details
    • New
      $150,000
      0.92 Acres

      Residential Land in Millersville, MD

      0.92 acre lot with existing well and septic system.
      8280 Elvaton Rd, Millersville, MD 21108
      View Details
    • $155,000
      0.46 Acres

      Prime Commercial Space in Millersville

      Approximately 0.46 acre commercial land in a thriving business district.
      2664 Carver Rd, Millersville, MD 21108
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    • $2,700,000
      2.64 Acres

      Prime Land Along Rt. 3

      2.65 acres of C-4 zoned land on Rt. 3.
      605 N Crain Hwy N, Millersville, MD 21108
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    • Contact for pricing

      Land at Elvaton & Jumpers

      Land with development opportunities at a key intersection.
      8450 Elvaton Rd, Millersville, MD 21108
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    Similar Nearby for Lease

    • Contact for pricing

      Modern Office Space in Millersville

      Professional office setting with convenient access to major highways.
      8638 Veterans Hwy, Millersville, MD 21108
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      Millersville Office Space Sublease

      Office space available for sublease in Millersville business park.
      1131 Benfield Blvd, Millersville, MD 21108
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      7 Acres Land For Lease

      7 acres of land available for lease in Millersville, MD.
      1699 Millersville Rd, Millersville, MD 21108
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      1,686 SF

      Millersville Office Space Available

      Office space for rent in a sought-after Millersville location.
      741 Generals Hwy, Millersville, MD 21108
      View Details
    • Contact for pricing
      11,052 SF

      Office and Flex Space Available

      Office and flex/R&D space with easy access to highways.
      231 Najoles Rd, Millersville, MD 21108
      View Details
    • Contact for pricing
      5,400 SF

      Flex Space Near I-97

      Flex/R&D space with easy access to major routes.
      1127 Benfield Blvd, Millersville, MD 21108
      View Details
    View Listing
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    Millersville, MD 21108
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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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    255 Najoles Rd, Millersville, MD, 21108
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