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    Property profile & analytics

    3224 Joppa Rd Baltimore, MD 21234-3384

    • Retail space
    • 2,600 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1026141
    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

    • Michael Seidel - Allstate Insurance Agent / Insurance Agency
    • B&B's Vape Cafe / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice
    • Unforgettable Nails, Inc. / Nail Salon
    • Shear Friendz Hair Studio / Hair Salon / Nail Salon

    Property Details for 3224 Joppa Rd

    Construction
    BRICK
    Lot size
    0.19 lot acres
    Property size
    2,600 SF
    Zone code
    BLCNS
    Property type
    Retail space
    APN
    11-1119001730
    APU
    111119001730

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $615,000
      6.5%
      $565,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $616,000
      Market price range: $223k - $621k
      AI Estimate
      $614,000
      Market price range: $240k - $673k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $440,000
      Current use
      OFFICE BUILDING
      $635,000
      Change: +45% Conversion: Easy
      AUTO REPAIR, GARAGE
      $600,000
      Change: +37% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $475,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $430,000
      Change: -2% Conversion: Easy
      WAREHOUSE, STORAGE
      $395,000
      Change: -10% Conversion: Difficult
      MEDICAL BUILDING
      $380,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.5162
    Latitude
    39.3951
    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
    $4,450
    $237,700
    $344,800
    $582,500
    -
    $237,700
    $344,800
    $582,500

    Comparable in this City

    • Value Estimation by Request
      800 SF

      7956 Harford Rd

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      7956 Harford Rd, Parkville, MD 21234-5838
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    • Value Estimation by Request
      572 SF

      7814 Harford Rd

      RETAIL STORES (PERSONAL SERVICES) • 572 SF
      7814 Harford Rd, Baltimore, MD 21234-5814
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    • Value Estimation by Request
      2,924 SF

      7917 Harford Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,924 SF
      7917 Harford Rd, Baltimore, MD 21234-5845
      View Details
    • Value Estimation by Request
      2,520 SF

      8117 Harford Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,520 SF
      8117 Harford Rd, Baltimore, MD 21234-5792
      View Details
    • Value Estimation
      $640,000
      3,780 SF

      8819 Satyr Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,780 SF
      8819 Satyr Hl Rd, Baltimore, MD 21234
      View Details
    • Value Estimation by Request
      1,150 SF

      3239 Joppa Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,150 SF
      3239 Joppa Rd, Baltimore, MD 21234-3380
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space with Main Entrance

      Retail space featuring a dedicated entrance and shared parking.
      1739 E Joppa Rd, Baltimore, MD 21234
      View Details
    • $550,000
      0.16 Acres

      Turnkey Restaurant Opportunity in Baltimore

      Turnkey restaurant with apartment and business included in Baltimore.
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      Parkville Retail Center: Prime Investment

      High-traffic retail strip, excellent location.
      8035 Harford Ave, Parkville, MD 21234
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    • $1,150,000

      Automotive Property in Parkville, MD

      Automotive property with BR zone. Month to month lease.
      1763 E Joppa Rd, Parkville, MD 21234
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    • $550,000

      Turnkey Operation with Apartments

      Building with longstanding business, license, FFE, plus apartments.
      7207 Harford Rd, Baltimore, MD 21234
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      Well-Located Commercial Property For Sale

      Commercial property with excellent visibility and parking.
      7956 Harford Rd, Parkville, MD 21234
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    Similar Nearby for Lease

    • Contact for pricing
      2,634 SF

      Retail Space in Grocery-Anchored Center

      Retail space in a busy, grocery-anchored shopping center.
      8858-8980 Waltham Woods Rd, 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
    • $2,000 /Mo
      18,295 SF

      Harford Road Office Suite

      Second floor office suite available for lease in Baltimore.
      6709 Harford 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
    • $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
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    Baltimore, MD 21234-3384
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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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