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

    3720 Washington Blvd Halethorpe, MD 21227-1659

    • Office buildings
    • 7,500 SF
    • 1.72 lot acres
    OFF-MARKET
    Value Estimations
    $2,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1393460
    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

    • Thomas Raley, MD / Orthopedic Surgeon
    • Advanced Spine and Pain / Pain Control Clinic
    • John Yingling / Physician Assistant
    • Walmart Deli / Deli
    • Merritt Properties - Beltway Business Community Retail Center / Real Estate Agency / Construction Company

    Property Details for 3720 Washington Blvd

    Year built
    2004
    Lot size
    1.72 lot acres
    Property size
    7,500 SF
    Zone code
    ML
    Property type
    Office buildings
    APN
    13-2500000145
    APU
    132500000145

    Description

    This exceptional 10,842 square foot retail and industrial property, situated in the thriving BWI/Baltimore County submarket of Halethorpe, Maryland, presents a significant leasing opportunity. Located at 3720 Washington Boulevard, zip code 21227, this single-story building offers 9,450 square feet of immediately available warehouse space, perfect for a variety of businesses. The property boasts a generous 21-foot ceiling height, providing ample vertical storage capacity. Three dock-high doors ensure efficient loading and unloading of goods. Ample parking is available with 102 spaces to accommodate employees and customers. The property is classified as a multi-tenant retail and industrial space, specifically a warehouse and strip center. Its location in Baltimore County offers easy access to major transportation routes, making it an ideal location for businesses needing convenient access to the BWI airport and other key areas. This is a rare opportunity to secure a substantial warehouse space in a highly desirable location. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,576,000
      Market price range: $857k - $2.58M
      AI Estimate
      $1,845,000
      Market price range: $275k - $1.85M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,540,000
      Current use
      AUTO REPAIR, GARAGE
      $1,730,000
      Change: +12% Conversion: Difficult
      RESTAURANT
      $1,705,000
      Change: +11% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,375,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Halethorpe
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6742
    Latitude
    39.2462
    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
    $12,095
    $0.00
    $0.00
    $1,825,967
    -
    $556,300
    $1,396,400
    $1,952,700

    Comparable in this City

    • Value Estimation
      $3,035,000
      10,295 SF

      4545 Annapolis Rd

      OFFICE BUILDING • 10,295 SF
      4545 Annapolis Rd, Baltimore, MD 21227-4819
      View Details
    • Value Estimation
      $5,680,000
      53,850 SF

      4700 Hollins Fry Rd

      OFFICE BUILDING • 53,850 SF
      4700 Hollins Fry Rd, Baltimore, MD 21227-4602
      View Details
    • Value Estimation
      $585,000
      1,985 SF

      4367 Hollins Fry Rd

      OFFICE BUILDING • 1,985 SF
      4367 Hollins Fry Rd, Baltimore, MD 21227-3400
      View Details
    • Value Estimation
      $545,000
      6,560 SF

      4715 Leeds Ave

      OFFICE BUILDING • 6,560 SF
      4715 Leeds Ave, Baltimore, MD 21227-1402
      View Details
    • Value Estimation by Request
      2,437 SF

      5200 Leeds Ave

      OFFICE BUILDING • 2,437 SF
      5200 Leeds Ave, Halethorpe, MD 21227-2421
      View Details
    • Value Estimation
      $3,510,000
      11,050 SF

      1520 Caton Ave

      OFFICE BUILDING • 11,050 SF
      1520 Caton Ave, Baltimore, MD 21227-1013
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Halethorpe Office Space for Lease

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      3302 Washington Blvd Unit #203, Halethorpe, MD 21227
      View Details
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      $469,000
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      Renovated mixed-use property with office space and rentable garage.
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      Halethorpe Commercial Property - High Visibility

      Prime Redevelopment Opportunity: 9,506 SF, 1.47 Acres
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    • $2,099,999

      Turn-Key Funeral Home Opportunity

      Fully operational funeral home with strategic location and ample parking.
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    • $339,000
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      Move-in ready townhome featuring renovated kitchen and spa-like bathrooms.
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    Similar Nearby for Lease

    • $8 SF/Yr
      36,450 SF

      Office Space For Rent

      Office space available for lease at an aggressive price.
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    • $18 SF/Yr
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      Single-story office space with direct suite entry and convenient location.
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      View Details
    • $15 SF/Yr
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      Halethorpe Office Space Available

      10000 SF office space for rent in Halethorpe, MD.
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    • $13 SF/Yr
      48,250 SF

      Baltimore Office Space For Lease

      Office space available for lease in Baltimore, Maryland.
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    • Contact for pricing
      175,000 SF

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    • $18 SF/Yr
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      Office Space Near I-95

      Office space available in Caton 95 Office Park.
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      View Details
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    3720 Washington Blvd
    Halethorpe, MD 21227-1659
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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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