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    7700 Ritchie Hwy Glen Burnie, MD 21061
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    Property profile & analytics

    7700 Ritchie Hwy Glen Burnie, MD 21061

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    • Grocery and convenience stores
    • 53,490 SF
    • 25.37 lot acres
    For Lease
    $15,165,000
    View Listing →
    Glen Burnie Shopping Center Space For Lease
    $15,165,000
    6,333 SF

    Glen Burnie Shopping Center Space

    217,619 SF shopping center with ample parking.

    7700 Ritchie Hwy, Glen Burnie, MD
    View Listing
    Property ID
    US40-1431275
    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
    $15,165,000
    Cap Rate Potential
    3.5%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Wells Fargo Bank / Bank / Loan Service
    • Lidl / Grocery & Convenience Store / Food Market
    • Photastic Booths / Photography Service / Party Supply Store
    • Wells Fargo ATM / Atm

    Property Details for 7700 Ritchie Hwy

    Year built
    1999
    Construction
    BRICK
    Lot size
    25.37 lot acres
    Property size
    53,490 SF
    Zone code
    C3
    Property type
    Grocery and convenience stores
    APN
    03-000-13292600
    APU
    300013292600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $11,660,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,620,000
      6.5%
      $11,650,000
      7%
      $10,815,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $13,010,000
      Market price range: $3.67M - $13.0M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $22,165,000
      Current use
      AUTO REPAIR, GARAGE
      $22,750,000
      Change: +3% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $22,410,000
      Change: +1% Conversion: Difficult
      MEDICAL BUILDING
      $19,585,000
      Change: -12% Conversion: Difficult
      WAREHOUSE, STORAGE
      $17,835,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Burnie
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6155
    Latitude
    39.1517
    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
    $178,815
    $14,953,700
    $1,421,300
    $16,375,000
    -
    $14,953,700
    $1,421,300
    $16,375,000

    Comparable in this City

    • Value Estimation by Request
      3,038 SF

      7179 Baltimore Annapolis Blvd

      CONVENIENCE STORE • 3,038 SF
      7179 Baltimore Annapolis Blvd, Glen Burnie, MD 21061-2639
      View Details
    • Value Estimation
      $2,040,000
      16,469 SF

      930 Cromwell Park Dr

      CONVENIENCE STORE • 16,469 SF
      930 Cromwell Park Dr, Glen Burnie, MD 21061-2589
      View Details
    • Value Estimation
      $600,000
      2,220 SF

      327 Hospital Dr

      CONVENIENCE STORE • 2,220 SF
      327 Hospital Dr, Glen Burnie, MD 21061-5566
      View Details
    • Value Estimation
      $995,000
      4,684 SF

      7908 Ritchie Hwy

      CONVENIENCE STORE • 4,684 SF
      7908 Ritchie Hwy, Glen Burnie, MD 21061-4340
      View Details
    • Value Estimation by Request
      1,104 SF

      6701 Ritchie Hwy

      CONVENIENCE STORE • 1,104 SF
      6701 Ritchie Hwy, Glen Burnie, MD 21061-2318
      View Details
    • Value Estimation
      $1,255,000
      5,461 SF

      6901 Ritchie Hwy

      CONVENIENCE STORE • 5,461 SF
      6901 Ritchie Hwy, Glen Burnie, MD 21061-2313
      View Details

    Similar Nearby for Sale

    • $1,100,000
      5,332 SF

      Glen Burnie Retail/Auto Shop

      Retail space with auto shop, showroom, and six bays.
      7423 Ritchie Hwy, Glen Burnie, MD 21061
      View Details
    • $1,600,000
      7,500 SF

      Glen Burnie Retail Opportunity

      Retail property in Glen Burnie with redevelopment potential.
      900 Crain Hwy S, Glen Burnie, MD 21061
      View Details
    • $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
    • $789,900
      0.07 Acres

      Established Tattoo Studio for Sale

      Turn-key tattoo studio with real estate in prime location.
      208 N Crain Hwy, Glen Burnie, MD 21061
      View Details
    • $499,900

      Commercial Opportunity in Glen Burnie

      Four-unit, tenant-occupied property with C2 zoning and off-street parking.
      404 Crain Hwy S, Glen Burnie, MD 21061
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      560 SF

      Retail Space in Glen Burnie

      Retail space available in Food Lion anchored shopping center.
      111-121 Crain Hwy N, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      2,500 SF

      Glen Burnie Retail Space Available

      Retail space for lease in Glen Burnie shopping center.
      7063 Baltimore Annapolis Blvd, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      9,600 SF

      Retail Space in Glen Burnie

      Retail space available in a busy Glen Burnie location.
      7968 Crain Hwy, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      2,270 SF

      Retail/Office Space Near Hospital

      Retail or office space available near University of Maryland.
      337 Hospital Dr, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      1,136 SF

      Retail Space in Cromwell Business Park

      Retail space for lease in a convenient business park.
      901 Cromwell Park Dr, Glen Burnie, MD 21061
      View Details

    Property Visit Statistics

    • Visits by month
      24.6k
    • Visitors by month
      13.7k
    • Avg Time on site
      22 min
    View Listing
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    Glen Burnie, MD 21061
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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.

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    7700 Ritchie Hwy, Glen Burnie, MD, 21061
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