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    Property profile & analytics
    FOR SALE
    Commercial real estate

    509 Bynum Rd, Forest Hill, MD 21050

    24,219 SF 2.05 ac lot Built 1971
    Entity Owned 18-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US40-2073546
    Property summary
    AI-generated overview

    This exceptional 2.3-acre commercial land parcel, located at 509-517 Bynum Road in Forest Hill, Maryland, presents a unique investment opportunity. Zoned B3, the property boasts full site approvals, including stormwater management (SWM) and off-site improvements, allowing for an immediate start on construction. A grading permit is readily available. The site is approved for a 12,000 square foot retail building, with potential for outdoor seating, catering to the high-end residential neighborhood nearby. Utilities are conveniently located on-site. This prime location offers excellent visibility and accessibility, situated on Route 1 with a daily traffic count of 40,000 vehicles. The asking price is $875,000, reflecting a land value of $650,000 per acre. The property features public water and sewer services. Building square footage can range from 2,400 to 6,400 square feet, depending on the developer's plans. A ground lease option is available. This is a turnkey opportunity for immediate development, poised for success in a thriving market. The zip code is 21050, and the property is in Harford County.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1971
    Construction BRICK
    Total area 24,219 SF
    Lot 2.05 ac (89,298 SF)
    Zoning code B3
    APN 03-035026
    UPID US40-2073546
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $3.78M
    Comparable Approach Comparable
    $3.46M
    Blend (final) Blend
    $3.56M
    Owner & transaction history
    Caldicot Bynum LLC · 18 yrs held
    Caldicot Bynum LLC
    since 2008
    7 recorded transactions
    2021
    2016
    2008
    $1.3M
    1969
    1969
    1969
    1969
    Zoning & alternative use
    B3 · Forest Hill, MD
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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