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    520 E Ridgeville Blvd Mount Airy, MD 21771

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    520 E Ridgeville Blvd Mount Airy, MD 21771

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    • Strip malls
    • 10,738 SF
    • 1.89 lot acres
    For Lease
    $4,200,000
    View Listing →
    Retail Space in Mt. Airy For Lease
    $4,200,000
    2,108 SF

    Retail Space in Mt. Airy

    Retail space available in affluent Mt. Airy trade area.

    520 E Ridgeville Blvd, Mount Airy, MD
    View Listing
    Property ID
    US40-1675664
    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.
    Value Estimations
    $4,200,000
    Cap Rate Potential
    3%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 520 E Ridgeville Blvd

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.89 lot acres
    Property size
    10,738 SF
    Zone code
    CC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    13-030766
    APU
    13030766

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,125,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Airy
    County
    Carroll
    State
    Maryland
    Longitude
    -77.1592
    Latitude
    39.3624
    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
    $28,791
    $0.00
    $0.00
    $2,221,167
    -
    $857,200
    $1,533,800
    $2,391,000

    Comparable in this City

    • Value Estimation by Request
      11,120 SF

      309 Ridgeville Blvd

      SHOPPING CENTER, STRIP CENTER • 11,120 SF
      309 Ridgeville Blvd, Mount Airy, MD 21771-5201
      View Details
    • Value Estimation by Request
      4,000 SF

      4339 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 4,000 SF
      4339 Rdg Rd, Mount Airy, MD 21771-8925
      View Details
    • Value Estimation
      $1,100,000
      34,402 SF

      1502 Main St

      SHOPPING CENTER, STRIP CENTER • 34,402 SF
      1502 Main St, Mount Airy, MD 21771-5325
      View Details
    • Value Estimation
      $1,875,000
      18,888 SF

      301 Century Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 18,888 SF
      301 Century Dr, Mount Airy, MD 21771-4135
      View Details
    • Value Estimation
      $1,180,000
      34,800 SF

      1311 Main St

      REGIONAL SHOPPING CENTER, MALL • 34,800 SF
      1311 Main St, Mount Airy, MD 21771-5447
      View Details
    • Value Estimation by Request
      732 SF

      919 Watersville Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 732 SF
      919 Watersville Rd, Mount Airy, MD 21771-3318
      View Details

    Similar Nearby for Sale

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      Historic Downtown Mount Airy Retail

      Two retail buildings in historic Mount Airy downtown.
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      Commercial Property in Mt. Airy

      Commercial property with redevelopment potential in a prime location.
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    • $774,900
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      Mixed-Use Investment Portfolio, Mt. Airy

      Mixed-use portfolio with income potential in Mt. Airy, MD.
      16700 Frederick Rd, Mount Airy, MD 21771
      View Details
    • Contact for pricing
      2,730 SF

      Free Standing Retail Building

      Two-story retail building with open floor plan and parking.
      104 W Ridgeville Blvd, Mount Airy, MD 21771
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,108 SF

      Retail Space in Mt. Airy

      Retail space available in affluent Mt. Airy trade area.
      520 E Ridgeville Blvd, Mount Airy, MD 21771
      View Details
    • Contact for pricing
      1,475 SF

      Retail/Office Space Available Now

      Inline retail/office space in destination center, anchored by Weis.
      1001 Twin Arch Rd, Mount Airy, MD 21771
      View Details
    • $19 SF/Yr

      Historic Retail Space in Mount Airy

      Retail space in walkable downtown Mount Airy, Maryland.
      233-239 South Main St, Mount Airy, MD 21771
      View Details
    • $1,500 /Mo

      Updated Office Space with Garage

      Commercial office space with garage and outdoor storage in Mt. Airy.
      13146 Old National Pike, Mount Airy, MD 21771
      View Details

    Property Visit Statistics

    • Visits by month
      3.0k
    • Visitors by month
      3.5k
    • Avg Time on site
      34 min
    View Listing
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    Mount Airy, MD 21771
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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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