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

    3487 Chevrolet Dr Drs Ellicott City, MD 21042-4002

    • Warehouses
    • 118,125 SF
    • 1.59 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2021
    $37,464,962
    Value Estimations
    $30,005,000
    Show details
    Cap Rate Potential
    4.3%
    Warehouses
    Location Intelligence
    Property ID
    US40-0849192
    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

    • Warehouses

    Property Details for 3487 Chevrolet Dr Drs

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.59 lot acres
    Property size
    118,125 SF
    Zone code
    M1
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    02-290979
    APU
    2290979

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $29,570,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $21,300,000
      6.5%
      $19,660,000
      7%
      $18,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $25,868,000
      Market price range: $12.7M - $31.8M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $21,570,000
      Current use
      AUTO REPAIR, GARAGE
      $43,535,000
      Change: +102% Conversion: Easy
      RETAIL STORES
      $35,265,000
      Change: +63% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellicott City
    County
    Howard
    State
    Maryland
    Longitude
    -76.8214
    Latitude
    39.2746
    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
    2022
    $148,643
    $0.00
    $0.00
    $14,362,133
    -
    $761,800
    $14,761,500
    $15,523,300

    Comparable in this City

    • Value Estimation by Request
      29,998 SF

      3485 Chevrolet Dr

      MINI-WAREHOUSE, STORAGE • 29,998 SF
      3485 Chevrolet Dr, Ellicott City, MD 21042
      View Details
    • Value Estimation
      $1,265,000
      7,006 SF

      10370 Baltimore National Pike

      WAREHOUSE, STORAGE • 7,006 SF
      10370 Baltimore National Pike, Ellicott City, MD 21042-2190
      View Details
    • Value Estimation
      $1,100,000
      5,981 SF

      3258 Bethany Ln

      WAREHOUSE, STORAGE • 5,981 SF
      3258 Bethany Ln, Ellicott City, MD 21042-2222
      View Details
    • Value Estimation
      $960,000
      12,500 SF

      9044 Frederick Rd

      WAREHOUSE, STORAGE • 12,500 SF
      9044 Frederick Rd, Ellicott City, MD 21042-4014
      View Details
    • Value Estimation
      $535,000
      2,900 SF

      9449 Baltimore National Pike

      WAREHOUSE, STORAGE • 2,900 SF
      9449 Baltimore National Pike, Ellicott City, MD 21042-2803
      View Details
    • Value Estimation
      $515,000
      6,270 SF

      9064 Frederick Rd

      WAREHOUSE, STORAGE • 6,270 SF
      9064 Frederick Rd, Ellicott City, MD 21042-4014
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000 SF

      Historic Farm with Bottling Plant

      102-acre Ellicott City farm with 20,000 SF industrial building.
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    • $295,000

      Ellicott City Flex Condo

      Flex condo with offices, kitchenette, and warehouse space for sale.
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      Ellicott City Office Condos for Sale

      Prime Office Space, Multi-Unit Opportunity
      10260 Baltimore National Pike, Ellicott City, MD 21042
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    • $119,000
      11 SF

      Residential Land in Ellicott City

      11.91-acre residential parcel in Ellicott City, Maryland.
      Joey Dr, Ellicott City, MD 21042
      View Details
    • $425,000
      13,692 SF

      Ellicott City Office Suites For Sale

      Office suites available for sale in Ellicott City, Maryland.
      5024 Dorsey Hall Dr, Ellicott City, MD 21042
      View Details
    • $925,000

      Ellicott City Specialty Property

      Specialty property available for sale in Ellicott City.
      9319 Meadow Hill Rd, Ellicott City, MD 21042
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    Similar Nearby for Lease

    • Contact for pricing
      1,828 SF

      Ellicott City Shopping Center Space

      Giant-anchored shopping center with high visibility and accessibility.
      9200 Baltimore National Pike, Ellicott City, MD 21042
      View Details
    • $20 SF/Yr
      777 SF

      Ellicott City Office Space for Lease

      777 sq ft, Sunny Office, Ample Parking
      3217 Corporate Ct, Ellicott City, MD 21042
      View Details
    • $30 SF/Yr
      10,000 SF

      Ellicott City Retail Strip Center

      Prime Retail Space Available, Howard County
      3419 Plumtree Dr, Ellicott City, MD 21042
      View Details
    • $35 SF/Yr
      11,150 SF

      Ellicott City Retail Space Available

      Prime Howard County retail space, multiple units.
      9050 Baltimore National Pike, Ellicott City, MD 21042
      View Details
    • $2,500 /Mo

      Ellicott City Office Space Available

      Office suites for lease in Dorsey Hall Professional Park.
      5094 Dorsey Hall Dr #205, Ellicott City, MD 21042
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Ellicott City

      Retail and restaurant spaces available, anchored by Giant.
      4745 Dorsey Hall Dr, Ellicott City, MD 21042
      View Details
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    Ellicott City, MD 21042-4002
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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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