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    Property profile & analytics

    670 Ritchie Hwy Severna Park, MD 21146-3979

    • Office buildings
    • 4,740 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $1,150,000
    Show details
    Cap Rate Potential
    9.3%
    Office buildings
    Location Intelligence
    Property ID
    US40-0893389
    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

    • Golden Touch Reiki, LLC / Alternative Medicine Practice
    • Memberofthefamily.NET / Nursing Home
    • Watters III Edward C MD / Ophthalmologist
    • Severna Park Chiropractic / Alternative Medicine Practice
    • Mia Moon Creations / Alternative Medicine Practice

    Property Details for 670 Ritchie Hwy

    Construction
    BRICK
    Lot size
    0.42 lot acres
    Property size
    4,740 SF
    Zone code
    C2
    Property type
    Office buildings
    APN
    03-000-90043566
    APU
    300090043566

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,501,000
      Market price range: $419k - $2.33M

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

    Location Insight

    • Map
    • Local Demand
    City
    Severna Park
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5402
    Latitude
    39.0706
    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
    $7,807
    $512,900
    $202,000
    $714,900
    -
    $512,900
    $202,000
    $714,900

    Comparable in this City

    • Value Estimation
      $4,850,000
      11,830 SF

      485 Ritchie Hwy

      OFFICE BUILDING • 11,830 SF
      485 Ritchie Hwy, Severna Park, MD 21146-2918
      View Details
    • Value Estimation
      $2,015,000
      3,245 SF

      678 Ritchie Hwy

      OFFICE BUILDING • 3,245 SF
      678 Ritchie Hwy, Severna Park, MD 21146-3936
      View Details
    • Value Estimation
      $865,000
      1,294 SF

      86 Kennedy Dr

      OFFICE BUILDING • 1,294 SF
      86 Kennedy Dr, Severna Park, MD 21146-3008
      View Details
    • Value Estimation
      $1,745,000
      8,544 SF

      195 Ritchie Hwy

      OFFICE BUILDING • 8,544 SF
      195 Ritchie Hwy, Severna Park, MD 21146-1116
      View Details
    • Value Estimation
      $5,375,000
      21,256 SF

      815 Ritchie Hwy

      OFFICE BUILDING • 21,256 SF
      815 Ritchie Hwy, Severna Park, MD 21146-4118
      View Details
    • Value Estimation
      $2,020,000
      9,096 SF

      537 Baltimore Annapolis Blvd

      OFFICE BUILDING • 9,096 SF
      537 Baltimore Annapolis Blvd, Severna Park, MD 21146-3812
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,415 SF

      Severna Park Office/Medical Condo

      Two contiguous units ideal for office or medical use.
      692 Ritchie Hwy, Severna Park, MD 21146
      View Details
    • Contact for pricing
      597 SF

      Severna Park Office Space Available

      Office space for sale in the heart of Severna Park.
      645 Baltimore Annapolis Blvd, Severna Park, MD 21146
      View Details
    • Contact for pricing

      Chart Towne Executive Offices Suites

      Professional office suites available in a multi-story building.
      479 Jumpers Hole Rd, Severna Park, MD 21146
      View Details
    • $389,125

      Severna Park Office/Medical Condo Units

      Two contiguous office/medical condo units in Severna Park, MD.
      692 Ritchie Hwy, Severna Park, MD 21146
      View Details
    • $45,000

      Magothy River Marina Slip

      Marina slip with easy access to Chesapeake Bay.
      360 Magothy Rd, Severna Park, MD 21146
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Severna Park Office Space Available

      Contemporary office complex near Annapolis with wellness focus and parking.
      760 Ritchie Hwy, Severna Park, MD 21146
      View Details
    • Contact for pricing
      886 SF

      Severna Park Office Space Available

      Office space for rent in Severna Park, Maryland.
      650 Ritchie Hwy, Severna Park, MD 21146
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space available for lease in Severna Park, MD.
      156 Ritchie Hwy, Severna Park, MD 21146
      View Details
    • Contact for pricing
      4,050 SF

      Retail Space in Shopping Plaza

      Retail space available in a 77,000 square foot shopping plaza.
      541-587 Baltimore Annapolis Blvd, Severna Park, MD 21146
      View Details
    • Contact for pricing
      3,428 SF

      Retail Space on Ritchie Highway

      Retail space with high visibility and strong traffic counts.
      572 Ritchie Hwy, Severna Park, MD 21146
      View Details
    • Contact for pricing
      2,004 SF

      Retail Space in Severna Park

      Neighborhood shopping center anchored by Giant, Kohl's, Office Depot, Petco.
      543-575 Ritchie Hwy, Severna Park, MD 21146
      View Details
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    Severna Park, MD 21146-3979
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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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