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    Property profile & analytics

    9615 Deereco Rd Lutherville, MD 21093-6903

    • Hotels
    • 76,946 SF
    • 3.63 lot acres
    OFF-MARKET
    Last Sale
    Apr 08, 2024
    Value Estimations
    $6,640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0416247
    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

    • Hotels

    Property Details for 9615 Deereco Rd

    Year built
    1988
    Lot size
    3.63 lot acres
    Property size
    76,946 SF
    Property type
    Hotels
    APN
    08-2500018343
    APU
    82500018343

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,805,000
      6.5%
      $6,285,000
      7%
      $5,835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,000,000
      Market price range: $1.33M - $13.0M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $7,580,000
      Current use
      AUTO REPAIR, GARAGE
      $10,795,000
      Change: +42% Conversion: Difficult
      OFFICE BUILDING
      $10,760,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $9,750,000
      Change: +29% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $6,575,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lutherville
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6409
    Latitude
    39.4542
    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
    $49,404
    $2,129,900
    $6,022,500
    $8,152,400
    -
    $2,129,900
    $6,022,500
    $8,152,400

    Comparable in this City

    • Value Estimation
      $9,785,000
      145,211 SF

      2004 Greenspring Dr

      HOTEL • 145,211 SF
      2004 Greenspring Dr, Timonium, MD 21093-4114
      View Details
    • Value Estimation
      $1,680,000
      76,946 SF

      9625 Deereco Rd

      HOTEL • 76,946 SF
      9625 Deereco Rd, Lutherville, MD 21093-6987
      View Details
    • Value Estimation
      $4,385,000
      45,450 SF

      9704 Beaver Dm Rd

      HOTEL • 45,450 SF
      9704 Beaver Dm Rd, Lutherville Timonium, MD 21093-2228
      View Details
    • Value Estimation
      $7,465,000
      73,500 SF

      11 Texas Sta Ct

      HOTEL • 73,500 SF
      11 Texas Sta Ct, Timonium, MD 21093-8263
      View Details
    • Value Estimation
      $4,720,000
      42,912 SF

      111 Timonium Rd

      MOTEL • 42,912 SF
      111 Timonium Rd, Lutherville Timonium, MD 21093-3117
      View Details
    • Value Estimation by Request
      2,488 SF

      Fairgrounds Ctr

      Lifestyle centers • 2,488 SF
      0 Fairgrounds Ctr, Timonium, MD 21093
      View Details

    Similar Nearby for Sale

    • $450,000

      Residential Office Building on Corner

      Residential office building on corner lot with parking.
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    • New
      $749,999
      4,242 SF

      Spacious Colonial on Two Acres

      Multi-generational home with pool, in-law suite, and ample space.
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    • Contact for pricing
      2,349 SF

      Boutique Office/Retail Building For Sale

      Boutique office/retail building in Greenspring Valley, renovated in 2000.
      10829 Falls Rd, Lutherville Timonium, MD 21093
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      1629 York Rd, Timonium, MD 21093

      Office buildings
      1629 York Rd, Timonium, MD 21093
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail spaces available for lease.
      12200-12254 Tullamore Rd, Timonium, MD 21093
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    • Contact for pricing
      15,634 SF

      Lutherville Timonium Warehouse Space Available

      Warehouse/industrial property with easy access to major transportation routes.
      2032 Greenspring Dr, Lutherville Timonium, MD 21093
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    • Contact for pricing
      5,916 SF

      Greenspring Station Office/Medical Building

      Office/medical building in Greenspring Station area, excellent signage opportunities.
      10801 Tony Dr, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      3,269 SF

      12216-12240 Tullamore Rd, Lutherville-Timonium, MD

      Retail space • 3,269 SF
      12216-12240 Tullamore Rd, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      2,000 SF

      Office Space with Ample Parking

      Office space for rent with high visibility and access.
      1544 York Rd, Lutherville Timonium, MD 21093
      View Details
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    9615 Deereco Rd
    Lutherville, MD 21093-6903
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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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