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    Property profile & analytics

    Old Eastern Ave Essex, MD 21221

    • Grocery and convenience stores
    • 2,790 SF
    • 2.31 lot acres
    OFF-MARKET
    Value Estimations
    $495,000
    Show details
    Cap Rate Potential
    8.3%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US40-1607621
    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

    • Grocery and convenience stores

    Property Details for Old Eastern Ave

    Year built
    2019
    Lot size
    2.31 lot acres
    Property size
    2,790 SF
    Property type
    Grocery and convenience stores
    APN
    15-2400005660
    APU
    152400005660

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $660,000
      6.5%
      $610,000
      7%
      $565,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $762,000
      Market price range: $282k - $763k
      AI Estimate
      $473,000
      Market price range: $126k - $474k

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

    Location Insight

    • Map
    • Local Demand
    City
    Essex
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.4505
    Latitude
    39.3163
    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
    $15,520
    $1,008,300
    $1,391,100
    $2,399,400
    -
    $1,008,300
    $1,391,100
    $2,399,400

    Comparable in this City

    • Value Estimation
      $560,000
      3,248 SF

      6036 Rossville Blvd

      CONVENIENCE STORE • 3,248 SF
      6036 Rossville Blvd, Essex, MD 21221-3158
      View Details
    • Value Estimation
      $360,000
      3,283 SF

      Philadelphia Rd

      CONVENIENCE STORE • 3,283 SF
      Philadelphia Rd, Essex, MD 21221
      View Details
    • Value Estimation
      $525,000
      2,800 SF

      100 Back Riv Nck Rd

      CONVENIENCE STORE • 2,800 SF
      100 Back Riv Nck Rd, Baltimore, MD 21221-3919
      View Details
    • Value Estimation
      $795,000
      24,000 SF

      10 Stemmers Run Rd

      GROCERY, SUPERMARKET • 24,000 SF
      10 Stemmers Run Rd, Essex, MD 21221-3630
      View Details
    • Value Estimation
      $380,000
      2,400 SF

      1918 Eastern Blvd

      GROCERY, SUPERMARKET • 2,400 SF
      1918 Eastern Blvd, Essex, MD 21221
      View Details
    • Value Estimation
      $330,000
      2,763 SF

      200 Back Riv Nck Rd

      GROCERY, SUPERMARKET • 2,763 SF
      200 Back Riv Nck Rd, Baltimore, MD 21221-3927
      View Details

    Similar Nearby for Sale

    • $1,700,000
      12,052 SF

      Retail Property with On-Site Parking

      Retail property in Charles Village with on-site parking available.
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    • Contact for pricing
      3,500 SF

      Turn-Key Liquor Store and Bar

      3,500 SF building with liquor license and parking.
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    • New
      $899,999
      9,668 SF

      Versatile Mixed-Use Property For Sale

      Mixed-use property with income potential, featuring residential and retail spaces.
      1700 Old Eastern Ave, Essex, MD 21221
      View Details
    • $80,000
      1,250 SF

      Essex Restaurant - $80K

      Established Chinese eatery, strong profits.
      1221 Eastern Blvd, Essex, MD 21221
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    • $375,000
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      Essex Retail Space - High Potential

      Versatile Retail Building, Vacant Possession
      412 Eastern Blvd, Essex, MD 21221
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    • Contact for pricing
      0.46 Acres

      Prime Essex Retail Opportunity

      0.46-acre Retail Lot in Essex, MD
      25 Eastern Ave, Essex, MD 21221
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,342 SF

      Retail Space in Waterview Center

      Retail space available in high-traffic Waterview Town Center.
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      3,600 SF

      Retail Space Near MVA

      Retail space available for lease near high-traffic MVA.
      1400 Eastern Blvd, Baltimore, MD 21221
      View Details
    • Contact for pricing

      Retail Space in Waterview Center

      Retail space available in a busy shopping center.
      107 Orville Rd, Essex, MD 21221
      View Details
    • Contact for pricing

      Retail Space in Waterview Center

      Retail space available in a busy shopping center.
      1800 Earhart Rd, Essex, MD 21221
      View Details
    • Contact for pricing
      13,126 SF

      Essex Retail Space - 13,000 SF

      High-visibility retail space in prime Essex location.
      1600 Eastern Blvd, Essex, MD 21221
      View Details
    • $15 SF/Yr
      780 SF

      Bar/Lounge Space in Charles Village

      Second generation bar/lounge space with on-site parking available for lease.
      2129 Maryland Ave, Baltimore, MD 21221
      View Details
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    Old Eastern Ave
    Essex, MD 21221
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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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