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Property profile & analytics
OFF-MARKET
Estimated value
$22,230,000
Warehouses
1 Joppa Rd 2, Baltimore, MD 21286-3119
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US40-0646170
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1966
Construction
BRICK
Total area
150,429 SF
Lot
3.46 ac (150,805 SF)
APN
09-2300001781
UPID
US40-0646170
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pure Barre Gym & Fitness Center
-
Free People Clothing & Fashion Store
-
The Medical Societe Spa & Massage Center Alternative Medicine Practice
-
Slaiid By Glaii Hair Salon
-
Drybar - Towson Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.98M
Blend (final)
Blend
$22.23M
Owner & transaction history
Towson Circle LLC · 7 yrs held
Towson Circle LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$34.7M
+51.7%
Restaurant
$34.2M
+49.5%
Office building
$30.9M
+35.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$22,885,000
Current use
AUTO REPAIR, GARAGE
$34,710,000
Change: +52% · Conversion: Easy
RESTAURANT
$34,210,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$30,890,000
Change: +35% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$27,550,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$24,805,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$21,860,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$20,955,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$22.23M
Range $20.01M – $24.45M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$148 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$160,275
Tax year 2023
Assessed value
$13,224,033
Assessed 2023
Previous assessed
$12,397,500
+6.7% YoY
Effective rate
1.21%
On assessed value
Land market value
$3,271,000
Improvement market value
$11,606,100
Total market value
$14,877,100
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1966
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Units
1
Total area
150,429 SF
Lot
3.46 ac (150,805 SF)
APN
09-2300001781
UPID
US40-0646170
Jurisdiction
BALTIMORE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$22.9M
AUTO REPAIR, GARAGE
Est. value
$34.7M
RESTAURANT
Est. value
$34.2M
OFFICE BUILDING
Est. value
$30.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$27.6M
COMMERCIAL (GENERAL)
Est. value
$24.8M
MEDICAL BUILDING
Est. value
$21.9M
RETAIL STORES
Est. value
$21.0M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
3
Units
1
Lot
3.46 ac
Current owner
From public records · entity-resolved
Towson Circle LLC
Entity
Free & Clear · 7 yrs held
Mailing address
6890 S 2300TH E, SALT LAKE CITY, UT 84171-6001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2019
$285,883
Towson Circle LLC
Esp Maryland Two LLC
Quit Claim Deed
related
—
Dec 23, 1997
$4,200,000
Susa Partnership LP
Towson Circle Joint Venture
Grant Deed
—
—
—
Esp Maryland Two LLC
—
Loan Modification
related
$67,000,000 · Td Bk NA
—
—
Esp Maryland Two LLC
—
Deed Of Trust
related
$3,810,000 · Susa Subsidiary LLC
—
—
Esp Maryland Two LLC
—
Deed Of Trust
related
$67,000,000 · Td Bk NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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