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    Property profile & analytics

    2841 Eastern Blvd, Unit R Baltimore, MD 21220-2802

    • Auto shops
    • 3,420 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    May 13, 2020
    $230,000
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0967854
    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

    • Williams Automatic Transmission / Auto Repair Shop
    • Middle River Car Rental / Car Rental Agency

    Property Details for 2841 Eastern Blvd

    Construction
    BRICK
    Lot size
    0.39 lot acres
    Property size
    3,420 SF
    Property type
    Auto shops
    APN
    15-1900012675
    APU
    151900012675

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $331,000
      Market price range: $325k - $1.51M
      AI Estimate
      $278,000
      Market price range: $279k - $706k

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.415
    Latitude
    39.3347
    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
    $1,604
    $154,800
    $65,200
    $220,000
    -
    $154,800
    $65,200
    $220,000

    Comparable in this City

    • Value Estimation
      $1,775,000
      4,032 SF

      58 Earls Rd

      AUTO REPAIR, GARAGE • 4,032 SF
      58 Earls Rd, Middle River, MD 21220
      View Details
    • Value Estimation
      $295,000
      1,690 SF

      1506 Martin Blvd

      AUTO REPAIR, GARAGE • 1,690 SF
      1506 Martin Blvd, Baltimore, MD 21220-4110
      View Details
    • Value Estimation
      $325,000
      1,936 SF

      1511 Martin Blvd

      AUTO REPAIR, GARAGE • 1,936 SF
      1511 Martin Blvd, Middle River, MD 21220-4109
      View Details
    • Value Estimation
      $305,000
      2,170 SF

      1501 Martin Blvd

      AUTO REPAIR, GARAGE • 2,170 SF
      1501 Martin Blvd, Baltimore, MD 21220-4109
      View Details
    • Value Estimation
      $395,000
      10,280 SF

      9480 Pulaski Hwy

      AUTO REPAIR, GARAGE • 10,280 SF
      9480 Pulaski Hwy, Baltimore, MD 21220-2411
      View Details
    • Value Estimation
      $325,000
      4,000 SF

      9621 Pulaski Hwy

      AUTO REPAIR, GARAGE • 4,000 SF
      9621 Pulaski Hwy, Baltimore, MD 21220-1405
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,500 SF

      Eastern Blvd Auto Shop For Sale

      Vacant 3,500 SF Auto Shop in Middle River, MD
      2010 Eastern Blvd, Middle River, MD 21220
      View Details
    • $275,000
      3.92 Acres

      Residential Land in Middle River

      3.92-acre lot for residential development near luxury homes.
      Bird River Rd, Middle River, MD 21220
      View Details
    • $254,900

      Middle River Specialty Property

      Specialty property available for sale in Middle River, Maryland.
      6 Gyro Dr, Middle River, MD 21220
      View Details
    • $1,030,000

      Paddington Street Specialty Property

      Specialty property available for sale in Middle River, MD.
      6408 Paddington St, Middle River, MD 21220
      View Details
    • $775,000

      Baltimore Specialty Property For Sale

      Specialty property available for purchase in Baltimore, Maryland.
      1347 S Seneca Rd, Baltimore, MD 21220
      View Details
    • $665,000
      0.82 Acres

      Waterfront Land with Pier and Lift

      Prime waterfront property with extensive improvements on Seneca Creek.
      1321 S Seneca Rd, Middle River, MD 21220
      View Details

    Similar Nearby for Lease

    • New
      $2,400 /Mo
      18,731 SF

      Commercial Space in Middle River

      Commercial space with open floor plan, ready for immediate occupancy.
      12406 Eastern Ave, Middle River, MD 21220
      View Details
    • $2,750 /Mo
      1,800 SF

      Versatile Retail Space Available

      Large retail space suitable for diverse business ventures.
      2101-2111 Old Orems Rd, Middle River, MD 21220
      View Details
    • New
      $2,500 /Mo
      56,192 SF

      MIDDLE RIVER Commercial Units Available

      Multiple commercial and residential units available for lease in MIDDLE RIVER.
      11415 Eastern Ave, Middle River, MD 21220
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space with Roadside Visibility

      Retail space with high traffic and development potential.
      1202 Middle River Rd, Baltimore, MD 21220
      View Details
    • Contact for pricing
      1,926,097 SF

      Greenleigh: Flex & R&D Space

      1M+ SF Flex/R&D; Baltimore County
      43 Crossroads Cir, Baltimore, MD 21220
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space with Roadside Visibility

      Retail space with high traffic and development potential.
      1202 Martin Blvd, Middle River, MD 21220
      View Details
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    2841 Eastern Blvd, Unit R
    Baltimore, MD 21220-2802
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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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