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    Property profile & analytics

    7351 Assateague Dr Jessup, MD 20794

    • Community centers
    • 157,672 SF
    • 14.16 lot acres
    For Lease
    View listing
    Last Sale
    Sep 14, 2021
    $38,750,000
    Value Estimations
    $34,050,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1441509
    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

    • Panda Express / Chinese Restaurant / Asian Restaurant
    • Dale McGee Sherri J DDS / Dentist
    • Robert MCcane Immigration Attorneys / Immigration Attorney
    • Hair Expressions / Beauty Salon
    • Enterprise Rent-A-Car / Car Rental Agency / Van Rental Agency

    Property Details for 7351 Assateague Dr

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    14.16 lot acres
    Property size
    157,672 SF
    Zone code
    B2
    Property type
    Community centers
    APN
    06-467695
    APU
    6467695

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $30,585,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $30,460,000
      6.5%
      $28,120,000
      7%
      $26,110,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $24,120,000
      OFFICE BUILDING
      $20,505,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Jessup
    County
    Howard
    State
    Maryland
    Longitude
    -76.7854
    Latitude
    39.1695
    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
    2022
    $287,995
    $0.00
    $0.00
    $29,517,633
    -
    $5,551,200
    $31,848,100
    $37,399,300

    Comparable in this City

    • Value Estimation by Request
      900 SF

      10545 Guilford Rd

      Lifestyle centers • 900 SF
      10545 Guilford Rd, Jessup, MD 20794
      View Details
    • Value Estimation by Request
      17,090 SF

      7916 Dorsey Run Rd

      SHOPPING CENTER, STRIP CENTER • 17,090 SF
      7916 Dorsey Run Rd, Jessup, MD 20794-9442
      View Details
    • Value Estimation
      $1,585,000
      11,250 SF

      7698 Dorchester Blvd

      SHOPPING CENTER, STRIP CENTER • 11,250 SF
      7698 Dorchester Blvd, Jessup, MD 20794
      View Details
    • Value Estimation
      $1,585,000
      11,250 SF

      7690 Dorchester Blvd

      SHOPPING CENTER, STRIP CENTER • 11,250 SF
      7690 Dorchester Blvd, Jessup, MD 20794
      View Details
    • Value Estimation by Request
      44,619 SF

      Rte 1st 1

      SHOPPING CENTER, STRIP CENTER • 44,619 SF
      Rte 1st 1, Jessup, MD 20794
      View Details
    • Value Estimation
      $725,000
      4,007 SF

      7692 Dorchester Blvd

      FINANCIAL BUILDING • 4,007 SF
      7692 Dorchester Blvd, Jessup, MD 20794
      View Details

    Similar Nearby for Sale

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      Spacious Mobile Home in Jessup

      Updated 3-bedroom, 2-bath mobile home near major commuter routes.
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    • $75,000
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      Land in Jessup, Maryland

      Land with potential in Howard County under $100,000.
      10075 Guilford Rd, Jessup, MD 20794
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    • $1,600,000
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      Jessup Office Building - $1.6M

      ±6,000 SF Office, 2.03 Acres, High Visibility
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    • $479,900

      Glen Court Specialty Property

      Specialty property available for sale in Jessup, Maryland.
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    • $1,200,000
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      Land Parcel for Sale

      Land available for sale in Jessup, Maryland.
      Dorsey Run Rd, Jessup, MD 20794
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    • $999,999

      Commercial Land in High Development Area

      Two commercial lots available in a dynamic growth area.
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    Similar Nearby for Lease

    • Contact for pricing
      7,443 SF

      Retail Space in Anchored Center

      Retail space in a well-located, high-traffic shopping center.
      7351 Assateague Dr, Jessup, MD 20794
      View Details
    • Contact for pricing
      18,000 SF

      Retail Space Near Route 1

      Retail property for lease near Route 1 in Jessup.
      8520 Washington Blvd, Jessup, MD 20794
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    • Contact for pricing
      4,763 SF

      Retail Space in Jessup, MD

      Retail space available in Mom’s Organic Market anchored shopping center.
      7351-7361 Assateague Dr, Jessup, MD 20794
      View Details
    • Contact for pricing
      23,000 SF

      Mission Place Executive Offices

      Laurel, MD: Prime Office Suites Available
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      Retail Space with Route 1 Visibility

      Flexible retail space with signage visibility on Route 1.
      8610 Washington Blvd, Jessup, MD 20794
      View Details
    • Contact for pricing
      1,494 SF

      Retail Space in Mixed-Use Project

      Retail space available in Jessup, MD, mixed-use development.
      8150-8160 Washington Blvd, Jessup, MD 20794
      View Details
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    Jessup, MD 20794
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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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