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    Property profile & analytics

    3615 East Northern Pkwy Baltimore, MD 21206

    • Outlet malls
    • 8,146 SF
    • 0.76 lot acres
    For Sale
    View listing
    $2,200,000
    Last Sale
    Feb 10, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0739921
    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

    • Family Dollar / Discount Supermarket / School Supply Store

    Property Details for 3615 East Northern Pkwy

    Year built
    1995
    Construction
    BRICK
    Lot size
    0.76 lot acres
    Property size
    8,146 SF
    Zone code
    C-1
    Property type
    Outlet malls
    APN
    27-04-5603F-024
    APU
    27045603F024

    Description

    This exceptional freestanding retail building, located at 3615 E Northern Pkwy in Baltimore, Maryland, presents a unique investment opportunity. Boasting 8,178 square feet of space on a lot ranging from 0.76 to 1.34 acres, this property is zoned C-1 Commercial, offering significant flexibility for a variety of retail uses. The single-story structure enjoys a highly visible location at a signalized intersection, ensuring excellent exposure to potential customers. Its convenient location also provides easy access to public transportation, enhancing its appeal to both businesses and employees. Further adding to its desirability, this property is situated within an Enterprise Zone, potentially offering various economic incentives. The building is available for sale or lease, making it an attractive option for both owner-occupiers and investors seeking a strong return. Detailed information regarding the specific lot size and potential incentives is available upon request. This is a rare opportunity to acquire a well-positioned retail property in a thriving Baltimore location. Serious inquiries are encouraged to explore this promising investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,530,000
      6.5%
      $1,415,000
      7%
      $1,310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,916,000
      Market price range: $464k - $1.92M
      AI Estimate
      $1,220,000
      Market price range: $377k - $1.22M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,135,000
      Current use
      AUTO REPAIR, GARAGE
      $1,880,000
      Change: +66% Conversion: Difficult
      RESTAURANT
      $1,850,000
      Change: +63% Conversion: Easy
      OFFICE BUILDING
      $1,675,000
      Change: +47% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,490,000
      Change: +31% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,240,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $1,185,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.538
    Latitude
    39.3578
    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
    $26,264
    $395,700
    $717,200
    $1,112,900
    -
    $395,700
    $717,200
    $1,112,900

    Comparable in this City

    • Value Estimation
      $3,670,000
      43,095 SF

      4206 Frankford Ave

      SHOPPING CENTER, STRIP CENTER • 43,095 SF
      4206 Frankford Ave, Baltimore, MD 21206-5131
      View Details
    • Value Estimation
      $2,065,000
      14,450 SF

      5960 Belair Rd

      SHOPPING CENTER, STRIP CENTER • 14,450 SF
      5960 Belair Rd, Baltimore, MD 21206
      View Details
    • Value Estimation
      $770,000
      6,489 SF

      6711 Belair Rd

      SHOPPING CENTER, STRIP CENTER • 6,489 SF
      6711 Belair Rd, Baltimore, MD 21206-1151
      View Details
    • Value Estimation
      $11,690,000
      156,886 SF

      5000 Sinclair Ln

      SHOPPING CENTER, STRIP CENTER • 156,886 SF
      5000 Sinclair Ln, Baltimore, MD 21206-5936
      View Details
    • Value Estimation
      $3,155,000
      34,525 SF

      5418 Sinclair Ln

      SHOPPING CENTER, STRIP CENTER • 34,525 SF
      5418 Sinclair Ln, Baltimore, MD 21206-4645
      View Details
    • Value Estimation
      $2,995,000
      22,845 SF

      6400 Frankford Ave

      SHOPPING CENTER, STRIP CENTER • 22,845 SF
      6400 Frankford Ave, Baltimore, MD 21206-4971
      View Details

    Similar Nearby for Sale

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      Established Baltimore eatery, huge potential!
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    • $375,000
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    Similar Nearby for Lease

    • Contact for pricing
      3,250 SF

      Retail Space in Parkside Center

      Retail space available in a dominant shopping center.
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      View Details
    • Contact for pricing
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      Retail space available in a dominant shopping center.
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      View Details
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      Sinclair Plaza: Baltimore Retail Space

      Prime Baltimore retail space, multiple suites available.
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      View Details
    • $1,095 /Mo

      Ground Floor Retail/Office Space

      450 sq ft space with bathroom on busy street.
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    • $1,500 /Mo
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      High-Visibility Retail Space Available

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    • Contact for pricing
      5,600 SF

      Retail Space Near Interstate Access

      Retail spaces available near major interstates with high traffic volume.
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      View Details
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    3615 East Northern Pkwy
    Baltimore, MD 21206
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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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