Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 Mccormick Dr Glen Burnie, MD 21061

    • Industrial properties
    • 43,942 SF
    • 4.50 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1100348
    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

    • Bonsai Fine Arts Inc / Arts Organization / Transportation Service
    • Ambrosia Caterers, LLC / Caterer
    • Power Secure Inc / Electrical Supply Store

    Property Details for 509 Mccormick Dr

    Year built
    2000
    Construction
    BRICK
    Lot size
    4.50 lot acres
    Property size
    43,942 SF
    Zone code
    W1
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    05-414-90058862
    APU
    541490058862

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,093,000
      Market price range: $8.01M - $35.2M
      AI Estimate
      $6,487,000
      Market price range: $3.86M - $14.1M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $16,090,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Burnie
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6748
    Latitude
    39.1587
    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
    $48,020
    $0.00
    $0.00
    $4,397,467
    -
    $1,170,000
    $3,639,600
    $4,809,600

    Comparable in this City

    • Value Estimation
      $12,620,000
      27,826 SF

      883 Airport Park Rd

      INDUSTRIAL LOFT BUILDING • 27,826 SF
      883 Airport Park Rd, Glen Burnie, MD 21061-2556
      View Details
    • Value Estimation
      $790,000
      1,408 SF

      160 Penrod Ct

      INDUSTRIAL LOFT BUILDING • 1,408 SF
      160 Penrod Ct, Glen Burnie, MD 21061-2830
      View Details
    • Value Estimation
      $965,000
      1,716 SF

      1007 Crain S Hwy

      INDUSTRIAL LOFT BUILDING • 1,716 SF
      1007 Crain S Hwy, Glen Burnie, MD 21061-3948
      View Details
    • Value Estimation
      $12,615,000
      49,860 SF

      520 Mccormick Dr

      INDUSTRIAL LOFT BUILDING • 49,860 SF
      520 Mccormick Dr, Glen Burnie, MD 21061-3284
      View Details
    • Value Estimation
      $13,960,000
      53,280 SF

      530 Mccormick Dr

      INDUSTRIAL LOFT BUILDING • 53,280 SF
      530 Mccormick Dr, Glen Burnie, MD 21061-8200
      View Details
    • Value Estimation
      $39,555,000
      70,508 SF

      802 Cromwell Park Dr

      INDUSTRIAL LOFT BUILDING • 70,508 SF
      802 Cromwell Park Dr, Glen Burnie, MD 21061-2563
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,339 SF

      Ritchie Hwy Commercial Portfolio

      Glen Burnie, MD: 3-building investment.
      7346-7352 Ritchie Hwy, Glen Burnie, MD 21061
      View Details
    • Contact for pricing

      Contractor's Yard Near BWI Airport

      Contractor's yard with easy access to Baltimore and DC.
      1107 Dorsey Rd, Glen Burnie, MD 21061
      View Details
    • $295,000
      972 SF

      Glen Burnie Residential Property

      Residential property in Glen Burnie, Maryland, totaling 972 square feet.
      520 Bend Circle Rd, Glen Burnie, MD 21061
      View Details
    • $380,000

      Glen Burnie Specialty Property

      Specialty property available for sale in Glen Burnie.
      393 Jaybea Ct, Glen Burnie, MD 21061
      View Details
    • $1,250,000

      Commercial Land Near I-97

      Commercial land with quick access to I-97 and Route 3.
      7940 EAST Park Dr, Glen Burnie, MD 21061
      View Details
    • $385,000

      Glen Burnie Specialty Property

      Specialty property available for sale in Glen Burnie, Maryland.
      516 Joy Cir, Glen Burnie, MD 21061
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,520 SF

      Glen Burnie Flex Space Available

      Flex space in Cromwell Business Park near BWI Airport.
      798 Cromwell Park Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      7,560 SF

      Glen Burnie Flex Space Available

      Flex space near BWI Airport with easy highway access.
      797 Cromwell Park Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      2,400 SF

      Flex Space Near BWI Airport

      Flex/R&D space in a convenient location near major routes.
      504 Mccormick Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      2,760 SF

      Flex Space Near BWI Airport

      Flex/R&D space with easy access to major transportation routes.
      799 Cromwell Park Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      9,000 SF

      Glen Burnie Office/Warehouse Space

      9,000 SF Flex Space Available Now
      810 Cromwell Park Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      430,810 SF

      International Trade Center, Glen Burnie

      Prime Flex/R&D Space, Anne Arundel County
      500-530 Peppermill Dr, Glen Burnie, MD 21061
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509 Mccormick Dr
    Glen Burnie, MD 21061
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.