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    7715 Assateague Dr Jessup, MD 20794

    • Refrigerated & Cold Storage
    • 15,000 SF
    • 3.00 lot acres
    For Lease
    View listing
    Last Sale
    Jul 07, 2025
    $3,800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0906124
    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

    • Baldor Specialty Foods / Grocery & Convenience Store / Distribution Center

    Property Details for 7715 Assateague Dr

    Year built
    1989
    Construction
    STEEL FRAME
    Lot size
    3.00 lot acres
    Property size
    15,000 SF
    Zone code
    M2
    Property type
    Refrigerated & Cold Storage
    APN
    06-486746
    APU
    6486746

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,979,000
      Market price range: $1.61M - $4.04M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,740,000
      Current use
      AUTO REPAIR, GARAGE
      $5,530,000
      Change: +102% Conversion: Easy
      RETAIL STORES
      $4,480,000
      Change: +63% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,575,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $2,525,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jessup
    County
    Howard
    State
    Maryland
    Longitude
    -76.7804
    Latitude
    39.1591
    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
    $21,615
    $0.00
    $0.00
    $1,925,233
    -
    $653,400
    $1,283,100
    $1,936,500

    Comparable in this City

    • Value Estimation
      $31,135,000
      177,962 SF

      8000 Dorsey Run Rd

      COLD STORAGE • 177,962 SF
      8000 Dorsey Run Rd, Jessup, MD 20794-9482
      View Details
    • Value Estimation
      $19,105,000
      235,466 SF

      7950 Oceano Ave

      COLD STORAGE • 235,466 SF
      7950 Oceano Ave, Jessup, MD 20794-9412
      View Details
    • Value Estimation by Request
      489,896 SF

      8580 Old Dorsey Run Rd

      COLD STORAGE • 489,896 SF
      8580 Old Dorsey Run Rd, Jessup, MD 20794-9419
      View Details
    • Value Estimation
      $645,000
      3,300 SF

      7950 Tarbay Dr

      COLD STORAGE • 3,300 SF
      7950 Tarbay Dr, Jessup, MD 20794-9416
      View Details
    • Value Estimation
      $10,200,000
      53,000 SF

      7805 Rappahanock Ave

      COLD STORAGE • 53,000 SF
      7805 Rappahanock Ave, Jessup, MD 20794-3210
      View Details
    • Value Estimation
      $7,845,000
      61,487 SF

      7855 Rappahanock Ave

      COLD STORAGE • 61,487 SF
      7855 Rappahanock Ave, Jessup, MD 20794-9420
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Office Building on Washington Blvd

      6,000 SF office building on 2.03 acres.
      8826 Washington Blvd, Jessup, MD 20794
      View Details
    • $999,999

      Commercial Land in High Development Area

      Two commercial lots available in a dynamic growth area.
      2860 Jessup Rd, Jessup, MD 20794
      View Details
    • $1,200,000

      Land Parcel for Sale

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

      Commercial Lots in High Development Area

      Two commercial lots for sale in a dynamic growth area.
      2858 Jessup Rd, Jessup, MD 20794
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      193,500 SF

      Jessup Warehouse Space Available

      193,500 sqft warehouse space for lease in Jessup, MD.
      8231 Stayton Dr, Jessup, MD 20794
      View Details
    • Contact for pricing
      29,843 SF

      Jessup Flex / Warehouse Space

      Flex/warehouse space available in Jessup, Maryland.
      10621 Iron Bridge Rd, Jessup, MD 20794
      View Details
    • Contact for pricing
      16,960 SF

      Jessup Warehouse Space Available

      16,960 sqft warehouse/industrial space for lease in Jessup, MD.
      8230 Preston Ct, Jessup, MD 20794
      View Details
    • Contact for pricing
      18,054 SF

      Jessup Warehouse and Office Space

      18,054 SF office and warehouse with planned improvements.
      8588 Old Dorsey Run Rd, Jessup, MD 20794
      View Details
    • Contact for pricing
      32,640 SF

      Jessup Warehouse Space For Lease

      Up to 51,540 SF warehouse space available for lease.
      8221 Preston Ct, Jessup, MD 20794
      View Details
    • Contact for pricing
      51,000 SF

      Jessup Warehouse with Excess Land

      121,211 SF warehouse with modernized office and robust power.
      7510 Montevideo Rd, 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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