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    3135 Joseph Biggs Memorial Hwy North East, MD 21901
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    Property profile & analytics

    3135 Joseph Biggs Memorial Hwy North East, MD 21901

    View on Map
    • Strip malls
    • 23,544 SF
    • 2.50 lot acres
    For Lease
    $16 SF/Yr
    View Listing →
    Retail Space Near Cecil College For Lease
    $16 SF/Yr

    Retail Space Near Cecil College

    Retail space available in high-traffic location near I-95.

    3135 JOSEPH BIGGS MEMORIAL HIGHWAY, North East, MD 21901
    View Listing
    Property ID
    US40-0890878
    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
    $865,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 3135 Joseph Biggs Memorial Hwy

    Year built
    2010
    Construction
    WOOD
    Lot size
    2.50 lot acres
    Property size
    23,544 SF
    Zone code
    BG
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    05-106494
    APU
    5106494

    Description

    College Crossing, a fully leased 24,000 square foot shopping center in North East, Maryland, presents a compelling investment opportunity. Located at 3135 Joseph Biggs Memorial Hwy, 21901, this multi-tenant retail property boasts a 100% occupancy rate, generating a substantial Net Operating Income (NOI) of $416,537 and a 6.50% capitalization rate. The asking price is $6,408,266, translating to a price per square foot of $267.01. Benefiting from its strategic location just off I-95 and directly across from Cecil College, the center enjoys high visibility and strong traffic flow. The diverse tenant mix contributes to the property's consistent performance and stable income stream. This property is part of a portfolio of two retail centers, offering the potential for individual or package purchase. The lease type is Net. Further details are available upon request and execution of a confidentiality agreement. Please refrain from contacting or disturbing the tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $880,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $854,000
      Market price range: $756k - $1.34M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $950,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    North East
    County
    Cecil
    State
    Maryland
    Longitude
    -75.9603
    Latitude
    39.6416
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-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
    $31,464
    $300,300
    $2,548,700
    $2,849,000
    -
    $300,300
    $2,548,700
    $2,849,000

    Comparable in this City

    • Value Estimation by Request
      8,558 SF

      14 Rogers Rd

      SHOPPING CENTER, STRIP CENTER • 8,558 SF
      14 Rogers Rd, North East, MD 21901-3612
      View Details
    • Value Estimation by Request
      3,540 SF

      14 Rogers Rd

      SHOPPING CENTER, STRIP CENTER • 3,540 SF
      14 Rogers Rd, North East, MD 21901-3612
      View Details
    • Value Estimation
      $1,715,000
      77,905 SF

      2500 Pulaski Hwy

      SHOPPING CENTER, STRIP CENTER • 77,905 SF
      2500 Pulaski Hwy, North East, MD 21901-2610
      View Details
    • Value Estimation by Request
      7,800 SF

      2316 Pulaski Hwy

      SHOPPING CENTER, STRIP CENTER • 7,800 SF
      2316 Pulaski Hwy, North East, MD 21901-3730
      View Details
    • Value Estimation by Request
      4,592 SF

      466 Mauldin Ave

      SHOPPING CENTER, STRIP CENTER • 4,592 SF
      466 Mauldin Ave, North East, MD 21901-3519
      View Details
    • Value Estimation by Request
      6,235 SF

      10 Montgomery Dr

      SHOPPING CENTER, STRIP CENTER • 6,235 SF
      10 Montgomery Dr, North East, MD 21901-3815
      View Details

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    Similar Nearby for Lease

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      Retail Space in North East

      Suites available for tenant fit-out in existing strip center.
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      View Details
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      Freestanding ATM Kiosk For Lease

      Freestanding ATM kiosk available for lease in North East, MD.
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      Retail Space Near Cecil College

      Retail space available in high-traffic location near I-95.
      3135 Joseph Biggs Memorial Hwy, North East, MD 21901
      View Details
    • $13 SF/Yr
      4,800 SF

      Freestanding Retail Building on Pulaski

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      View Details
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      North East Office/Retail Suite

      Office/retail suite in North East, MD, with flexible layout.
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      View Details
    View Listing
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    North East, MD 21901
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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.

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