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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Ritchie Hwy Pasadena, MD 21122

    • Community centers
    • 36,310 SF
    • 2.11 lot acres
    OFF-MARKET
    Last Sale
    Jan 20, 2023
    $6,507,125
    Value Estimations
    $7,795,000
    Show details
    Cap Rate Potential
    7.3%
    Community centers
    Location Intelligence
    Property ID
    US40-0884099
    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

    • Community centers

    Property Details for Ritchie Hwy

    Year built
    1987
    Construction
    BRICK
    Lot size
    2.11 lot acres
    Property size
    36,310 SF
    Zone code
    C3
    Property type
    Community centers
    APN
    03-000-90102124
    APU
    300090102124

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,930,000
      ML approach
      $7,580,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,620,000
      6.5%
      $8,880,000
      7%
      $8,245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,918,000
      Market price range: $4.69M - $13.1M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $8,585,000
      Current use
      WAREHOUSE, STORAGE
      $12,110,000
      Change: +41% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5868
    Latitude
    39.1239
    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
    $40,759
    $1,691,400
    $2,041,100
    $3,732,500
    -
    $1,691,400
    $2,041,100
    $3,732,500

    Comparable in this City

    • Value Estimation by Request
      44,314 SF

      8567 Ft Smallwood Rd

      MINI-MALL • 44,314 SF
      8567 Ft Smallwood Rd, Pasadena, MD 21122-2631
      View Details
    • Value Estimation
      $1,065,000
      21,750 SF

      8125 Ritchie Hwy

      MINI-MALL • 21,750 SF
      8125 Ritchie Hwy, Pasadena, MD 21122-6925
      View Details
    • Value Estimation
      $8,045,000
      209,143 SF

      8139 Ritchie Hwy

      MINI-MALL • 209,143 SF
      8139 Ritchie Hwy, Pasadena, MD 21122-6919
      View Details
    • Value Estimation
      $355,000
      5,000 SF

      8495 Ft Smallwood Rd

      MINI-MALL • 5,000 SF
      8495 Ft Smallwood Rd, Pasadena, MD 21122-2739
      View Details
    • Value Estimation by Request
      56,927 SF

      Magothy Bch Rd

      MINI-MALL • 56,927 SF
      Magothy Bch Rd, Pasadena, MD 21122
      View Details
    • Value Estimation by Request
      9,943 SF

      4191 Mtn Rd

      MINI-MALL • 9,943 SF
      4191 Mtn Rd, Pasadena, MD 21122-4455
      View Details

    Similar Nearby for Sale

    • $1,250,000

      Turnkey Auto Repair Shop For Sale

      Auto repair shop with equipment included, high visibility location.
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      Ritchie Highway Retail/Office Spaces

      Retail and office spaces available on Ritchie Highway.
      8221 Ritchie Hwy, Pasadena, MD 21122
      View Details
    • $2,150,000
      5,500 SF

      Commercial Building on Ritchie Highway

      5,500+/- SF commercial building on Ritchie Highway in Pasadena, MD.
      8230 Ritchie Hwy, Pasadena, MD 21122
      View Details
    • $429,900
      Pending

      Multi-Use Commercial Property For Sale

      Commercial property with high visibility, multiple offices, and ample parking.
      8185 Ritchie Hwy, Pasadena, MD 21122
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    • $729,000
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      Pasadena Mixed-Use Property - Prime Location

      Renovated 1,425 sq ft mixed-use building on 0.63 acres.
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      Updated Townhome with Finished Basement

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    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Retail Space For Lease

      Retail spaces available in Pasadena, Maryland shopping center.
      8108-8124 Ritchie Hwy, Pasadena, MD 21122
      View Details
    • Contact for pricing
      1,311 SF

      Retail Space in Pasadena Plaza

      Retail space available in Anne Arundel County shopping center.
      31 Magothy Beach Rd, Pasadena, MD 21122
      View Details
    • Contact for pricing
      960 SF

      Mixed-Use Property on Ritchie Highway

      Retail and office spaces available in Patriots Plaza.
      8039 Ritchie Hwy, Pasadena, MD 21122
      View Details
    • $20 SF/Yr
      23,400 SF

      Lippin's Corner: Dundalk Retail Space

      Prime Dundalk retail space, 23,400 sq ft.
      107 Mtn Rd, Dundalk, MD 21122
      View Details
    • Contact for pricing
      162,194 SF

      Lakeshore Plaza Retail Opportunity

      Prime Pasadena, MD Retail Space Available
      4103-4211 Mountain Rd, Pasadena, MD 21122
      View Details
    • Contact for pricing
      950 SF

      Retail Space Available in Pasadena

      Retail spaces available near Ritchie Highway and Jumpers Hole Road.
      8139-8145 Ritchie Hwy, Pasadena, MD 21122
      View Details
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    Ritchie Hwy
    Pasadena, MD 21122
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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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