7234 Ridge RdHanover, MD 21076

Property Details for 7234 Ridge Rd

Year built

1920

Construction

FRAME

Lot size

5.00 AC

Property size (Sq ft)

1,260 SF

Zone code

W1

Property type

Investment properties

Property subtype

Live-work space

APN

05-000-06853000

APU

500006853000

Description

This exceptional 5-acre commercial and industrial land parcel is located at 7234 Ridge Rd, Hanover, Maryland, 21076, within Anne Arundel County. The property is zoned W-1 and offers significant development potential. The site boasts convenient access to Baltimore-Washington International Thurgood Marshall Airport (BWI) and benefits from existing infrastructure including public water and septic. While there are approximately 1,260 square feet of existing structures on the property, these are secondary to the significant land value. The expansive lot size presents a unique opportunity for various industrial or commercial ventures. This prime location in a thriving area offers excellent visibility and accessibility, making it an ideal investment for businesses seeking a strategic foothold in the Baltimore-Washington corridor. The W-1 zoning allows for a range of potential uses, subject to county approvals. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. Detailed site plans and zoning information are available upon request. This is a rare opportunity to acquire a substantial land parcel in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $271,685

  6.5%

  $250,786

  7%

  $232,873

• Comparable approach

  Method

  Valuation

  Relative Method

  $79,267

  Geo Method

  $79,267

• Alternative Use

  Use

  Valuation

  Residential

  $310,975

  Hospitality

  $284,851

  Educational

  $236,993

  Medical

  $245,144

  Retail

  $368,656

Location Insight

City

Hanover

County

Anne Arundel

State

Maryland

Latitude

39.1765

Longitude

-76.711

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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