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    Property profile & analytics

    406 Headquarters Dr Millersville, MD 21108-2586

    • Industrial properties
    • 32,630 SF
    • 9.38 lot acres
    OFF-MARKET
    Value Estimations
    $18,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0739760
    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

    • Consign Inc / Discount Store / (Bike/Boat/Book/etc) Store
    • Astound Broadband Powered by RCN / Telecommunications Service / Data Center
    • Bob's Glass & Window Repair, Inc. / Hardware & Home Improvement / Interior Design
    • Maryland Workforce Corporation / Advocacy Group
    • Associated Designers Inc / Engineering Consultant

    Property Details for 406 Headquarters Dr

    Year built
    1985
    Construction
    BRICK
    Lot size
    9.38 lot acres
    Property size
    32,630 SF
    Zone code
    C4
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    03-000-90039208
    APU
    300090039208

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $13,670,000
      Current use
      OFFICE BUILDING
      $16,340,000
      Change: +20% Conversion: Difficult
      RESTAURANT
      $15,850,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $13,880,000
      Change: +2% Conversion: Easy
      RETAIL STORES
      $13,520,000
      Change: -1% Conversion: Moderate
      MEDICAL BUILDING
      $11,950,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Millersville
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6234
    Latitude
    39.1008
    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
    $85,532
    $0.00
    $0.00
    $7,832,600
    -
    $6,556,800
    $1,367,100
    $7,923,900

    Comparable in this City

    • Value Estimation
      $8,045,000
      34,200 SF

      8258 Veterans Hwy

      INDUSTRIAL LOFT BUILDING • 34,200 SF
      8258 Veterans Hwy, Millersville, MD 21108-1457
      View Details
    • Value Estimation
      $6,170,000
      25,410 SF

      8328 Veterans Hwy

      INDUSTRIAL LOFT BUILDING • 25,410 SF
      8328 Veterans Hwy, Millersville, MD 21108-2607
      View Details
    • Value Estimation
      $5,265,000
      11,250 SF

      8377 Jumpers Hole Rd

      INDUSTRIAL LOFT BUILDING • 11,250 SF
      8377 Jumpers Hole Rd, Millersville, MD 21108-1255
      View Details
    • Value Estimation
      $3,570,000
      17,248 SF

      215 Najoles Rd

      INDUSTRIAL LOFT BUILDING • 17,248 SF
      215 Najoles Rd, Millersville, MD 21108-2664
      View Details
    • Value Estimation
      $5,750,000
      14,700 SF

      407 Headquarters Dr

      INDUSTRIAL LOFT BUILDING • 14,700 SF
      407 Headquarters Dr, Millersville, MD 21108-2549
      View Details
    • Value Estimation
      $10,515,000
      46,800 SF

      8223 Md Rt 3rd N Ln

      INDUSTRIAL LOFT BUILDING • 46,800 SF
      8223 Md Rt 3rd N Ln, Millersville, MD 21108
      View Details

    Similar Nearby for Sale

    • $150,000
      0.92 Acres

      Residential Land in Millersville, MD

      0.92 acre lot with existing well and septic system.
      8280 Elvaton Rd, Millersville, MD 21108
      View Details
    • $1,300,000
      5.21 Acres

      Land for Development in Millersville

      6-acre land suitable for subdivision or assisted living facility.
      8301 Jumpers Hole Rd, Millersville, MD 21108
      View Details
    • New
      $155,000
      0.46 Acres

      Prime Commercial Space in Millersville

      Approximately 0.46 acre commercial land in a thriving business district.
      2664 Carver Rd, Millersville, MD 21108
      View Details
    • Contact for pricing

      3.1 Acre Development Opportunity

      3.1 acre commercial land for sale.
      8450 Elvaton Rd, Millersville, MD 21108
      View Details
    • $550,000

      Commercial Property on Veterans Highway

      Prime commercial property for sale in Millersville, Maryland.
      8646 Veterans Hwy, Millersville, MD 21108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,600 SF

      Millersville Office and Flex Space

      Office and flex space in convenient business park location.
      255 Najoles Rd, Millersville, MD 21108
      View Details
    • Contact for pricing

      Millersville Flex Space Available

      Flex space for lease in Millersville, Maryland.
      8229 Cloverleaf Dr, Millersville, MD 21108
      View Details
    • Contact for pricing
      11,052 SF

      Office and Flex Space Available

      Office and flex/R&D space with easy access to highways.
      231 Najoles Rd, Millersville, MD 21108
      View Details
    • Contact for pricing
      5,400 SF

      Flex Space Near I-97

      Flex/R&D space with easy access to major routes.
      1127 Benfield Blvd, Millersville, MD 21108
      View Details
    • Contact for pricing
      3,000 SF

      Flex Space Near I-97

      Office and warehouse space with easy highway access.
      1114 Benfield Blvd, Millersville, MD 21108
      View Details
    • Contact for pricing
      6,000 SF

      Millersville Flex/Office Space Available

      9,000 SF flex/office space in I-97 Business Park.
      1110 Benfield Blvd, Millersville, MD 21108
      View Details
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    Millersville, MD 21108-2586
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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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