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Property profile & analytics
OFF-MARKET
Estimated value
$2,245,000
Medical Office Space
108 Forbes St Annapolis, MD 21401-1545
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US40-1132926
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1991
Construction
BRICK
Total area
14,549 SF
Lot
0.51 ac (22,133 SF)
Zoning code
P
APN
06-000-00959400
UPID
US40-1132926
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
-
John Pietropaoli Physician Hospital
-
Ferris Mary-Helen Physician
-
Anar Modi, MD Physician
-
Theresa Grasing, PA-C Physician
-
Lauren Usilton, CRNP Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.25M
Owner & transaction history
Terra Properties I LLC · 16 yrs held
Terra Properties I LLC
since 2010
3 recorded transactions
Zoning & alternative use
P · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Professional Office district is designed to accommodate office and institutional uses of a nature that will be compatible with the character of adjoining residential or business properties, it is not designed for retail or service activities generating customer traffic or delivery of goods
Zone name
Professional Office
General category
CIVIC_INSTITUTIONAL
Zone area
76.18 ac
Source
Realmo
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 Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$154 / 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
$45,546
Tax year 2023
Assessed value
$3,171,700
Assessed 2023
Previous assessed
$3,169,467
+0.1% YoY
Effective rate
1.44%
On assessed value
Assessed land
$899,500
Assessed improvement
$2,272,200
Land market value
$899,500
Improvement market value
$2,272,200
Total market value
$3,171,700
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1991
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Units
1
Total area
14,549 SF
Lot
0.51 ac (22,133 SF)
Zoning code
P
APN
06-000-00959400
UPID
US40-1132926
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
P · Annapolis, MDZoning P · permitted uses
P · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Professional Office district is designed to accommodate office and institutional uses of a nature that will be compatible with the character of adjoining residential or business properties, it is not designed for retail or service activities generating customer traffic or delivery of goods
Zone name
Professional Office
General category
CIVIC_INSTITUTIONAL
Zone area
76.18 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1991
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
3
Units
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Terra Properties I LLC
Entity
Mailing address
PO BOX 345, DAVIDSONVILLE, MD 21035-0345
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2010
$3,750,000
Terra Properties I LLC
108 Forbes Street LLC
Grant Deed
$2,812,500 · Severn Savings Bank Fsb
Sep 25, 2000
$2,500,000
108 Forbes Street Associates
108 Forbes Street LLC
Grant Deed
related
$1,875,000 · Fcnb Bank
—
—
104 Forbes Street Unit D LLC
—
Deed Of Trust
related
$561,850 · Bank Of America
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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