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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2902 Joppa Rd Baltimore, MD 21234-3022

    • Office buildings
    • 1,342 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Jul 09, 2021
    $293,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1314173
    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

    • Psychic readings / Spiritual Center

    Property Details for 2902 Joppa Rd

    Year built
    1959
    Construction
    BRICK
    Lot size
    0.15 lot acres
    Property size
    1,342 SF
    Zone code
    RO
    Property type
    Office buildings
    APN
    09-0908656230
    APU
    90908656230

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.5257
    Latitude
    39.3958
    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
    $2,051
    $0.00
    $0.00
    $257,333
    -
    $135,000
    $155,800
    $290,800

    Comparable in this City

    • Value Estimation
      $1,660,000
      7,992 SF

      2914 Joppa Rd

      OFFICE BUILDING • 7,992 SF
      2914 Joppa Rd, Baltimore, MD 21234-3031
      View Details
    • Value Estimation by Request
      2,468 SF

      2906 Taylor Ave

      OFFICE BUILDING • 2,468 SF
      2906 Taylor Ave, Baltimore, MD 21234-6310
      View Details
    • Value Estimation by Request
      1,428 SF

      8925 Old Harford Rd

      OFFICE BUILDING • 1,428 SF
      8925 Old Harford Rd, Baltimore, MD 21234-2645
      View Details
    • Value Estimation
      $1,560,000
      10,000 SF

      8700 Old Harford Rd

      OFFICE BUILDING • 10,000 SF
      8700 Old Harford Rd, Baltimore, MD 21234-2803
      View Details
    • Value Estimation by Request
      780 SF

      8400 Harford Rd

      OFFICE BUILDING • 780 SF
      8400 Harford Rd, Baltimore, MD 21234-4653
      View Details
    • Value Estimation by Request
      1,318 SF

      8210 Harford Rd

      OFFICE BUILDING • 1,318 SF
      8210 Harford Rd, Baltimore, MD 21234-5705
      View Details

    Similar Nearby for Sale

    • $475,000
      3,000 SF

      Parkville Office Building - Great Location

      Prime Parkville Office, Retail Potential
      1807 Joppa Rd, Parkville, MD 21234
      View Details
    • New
      $799,900
      9,200 SF

      Baltimore Office/Warehouse Flex Building

      Large office and warehouse/flex building in Baltimore, Maryland.
      7518 Harford Rd, Baltimore, MD 21234
      View Details
    • $475,000

      Retail/Office Property with High Traffic

      Rezoned retail/office property with high traffic count.
      1807 Joppa Rd, Parkville, MD 21234
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Building Available For Lease

      Office building available for lease in Baltimore, Maryland.
      7518-7526 Harford Rd, Baltimore, MD 21234
      View Details
    • $550 /Mo
      5,227 SF

      Renovated Office Space in Parkville

      Private, move-in ready office space with shared common area.
      8609 Old Harford Rd Unit, Parkville, MD 21234
      View Details
    • Contact for pricing
      34,539 SF

      Retail Space in Renovated Plaza

      Grocery-anchored power center with easy access and great visibility.
      1951-1969 E Joppa Rd, Baltimore, MD 21234
      View Details
    • Contact for pricing

      Commercial Land in Retail Corridor

      Land in a dense retail corridor with strong traffic counts.
      8935 Waltham Woods Rd, Parkville, MD 21234
      View Details
    • Contact for pricing

      Retail Space Available for Lease

      Retail spaces available from 1,480 to 2,258 SF.
      7601 Harford Rd, Parkville, MD 21234
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 4,284 square feet.
      1739 E Joppa Rd, Parkville, MD 21234
      View Details
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    Baltimore, MD 21234-3022
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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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