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    Property profile & analytics

    7010 Ritchie Hwy Glen Burnie, MD 21061-2902

    • Medical Office Space
    • 4,055 SF
    • 0.67 lot acres
    OFF-MARKET
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1545703
    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

    • Personal Insurance Agency LLC / Insurance Agency
    • Immediate Care Medical Center: Constantino Kimberly M / Physician
    • Brinley Yungran Agn / Medical Clinic
    • Johnson Yeneisha S MD / Physician
    • Dr. Michael D. Martin, MD / Pediatrician / Physician

    Property Details for 7010 Ritchie Hwy

    Year built
    1981
    Construction
    BRICK
    Lot size
    0.67 lot acres
    Property size
    4,055 SF
    Zone code
    C3
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    05-326-90008847
    APU
    532690008847

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $980,000
      6.5%
      $905,000
      7%
      $840,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $493,000
      Market price range: $190k - $925k

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Burnie
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6137
    Latitude
    39.1825
    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
    $9,282
    $528,100
    $321,900
    $850,000
    -
    $528,100
    $321,900
    $850,000

    Comparable in this City

    • Value Estimation
      $2,160,000
      6,370 SF

      7116 Ritchie Hwy

      MEDICAL BUILDING • 6,370 SF
      7116 Ritchie Hwy, Glen Burnie, MD 21061-2904
      View Details
    • Value Estimation
      $1,470,000
      8,012 SF

      7801 Elvaton Ct

      MEDICAL BUILDING • 8,012 SF
      7801 Elvaton Ct, Glen Burnie, MD 21061-6763
      View Details
    • Value Estimation
      $1,675,000
      12,756 SF

      1720 Crain S Hwy

      MEDICAL BUILDING • 12,756 SF
      1720 Crain S Hwy, Glen Burnie, MD 21061-5629
      View Details
    • Value Estimation
      $625,000
      3,016 SF

      7706 Quarterfield Rd

      MEDICAL BUILDING • 3,016 SF
      7706 Quarterfield Rd, Glen Burnie, MD 21061-4428
      View Details
    • Value Estimation by Request
      1,092 SF

      7450 Baltimore Annapolis Blvd

      MEDICAL BUILDING • 1,092 SF
      7450 Baltimore Annapolis Blvd, Glen Burnie, MD 21061-3547
      View Details
    • Value Estimation
      $11,955,000
      80,076 SF

      1600 Crain S Hwy

      MEDICAL BUILDING • 80,076 SF
      1600 Crain S Hwy, Glen Burnie, MD 21061-5577
      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
      3,350 SF

      Glen Burnie Leased Office Building

      3,350 SF office building fully leased through 2028.
      7346-7352 Ritchie Hwy, Glen Burnie, MD 21061
      View Details
    • Contact for pricing

      Office Space on Crain Highway

      Office space for sale with high visibility and ample parking.
      447 Crain Hwy N, Glen Burnie, MD 21061
      View Details
    • New
      $650,000
      0.40 Acres

      Glen Burnie Commercial Property

      C3 zoned property suitable for retail or office use.
      402 Crain Hwy N, Glen Burnie, MD 21061
      View Details
    • $899,900
      1.43 Acres

      Glen Burnie C-2 Opportunity Land

      Highly visible 1.43 acre C-2 land near Marley Station Mall.
      7911 Ritchie Hwy, Glen Burnie, MD 21061
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo

      Turnkey Medical Office Condo

      Shared medical office space in Glen Burnie, MD.
      325 Hospital Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      11,988 SF

      Glen Burnie Medical Office Suite

      Class A Medical Office, 11,988 SF Total
      7671 Quarterfield Rd, Glen Burnie, MD 21061
      View Details
    • $22 SF/Yr
      27,000 SF

      Glen Burnie Medical Office Space

      Prime Medical Office Suites Available in Glen Burnie, MD
      7845 Oakwood Rd, Glen Burnie, MD 21061
      View Details
    • $20 SF/Yr
      10,956 SF

      Crain Hwy Office Space Available

      Versatile Office Space, Prime Location
      5 Crain Hwy, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      181,440 SF

      Quarterfield Center: Glen Burnie Medical Office

      Glen Burnie medical office space available. Multiple suites.
      801-810 Landmark Dr, Glen Burnie, MD 21061
      View Details
    • $20 SF/Yr
      2,000 SF

      Medical Suite in Glen Burnie

      First floor medical suite near Route 100 and Crain Highway.
      1411 Madison Park Dr, Glen Burnie, MD 21061
      View Details
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    Glen Burnie, MD 21061-2902
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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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