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Property profile & analytics
OFF-MARKET
Estimated value
$7,560,000
Medical Office Space
11 Chase St, Baltimore, MD 21202-2516
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US40-0169979
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1900
Construction
BRICK
Total area
56,776 SF
Lot
0.18 ac (7,982 SF)
Zoning code
OR-2
APN
11-12-0506 -017
UPID
US40-0169979
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
-
Algonquin Apartments Apartment Building
-
Zipcar Car Rental Facility
-
Bushelers of Baltimore (Bike/Boat/Book/etc) Store
-
American Institute of Architects - Baltimore Chapter Charitable Organization Social Service Agency
-
Chieftain Associates Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.21M
Blend (final)
Blend
$7.56M
Owner & transaction history
Shoetan Brothers Limited · 2 yrs held
Shoetan Brothers Limited
since 2024
7 recorded transactions
Zoning & alternative use
OR-2 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$10.4M
+26.0%
Commercial (general)
$9.4M
+13.5%
Warehouse, storage
$8.6M
+4.7%
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
MEDICAL BUILDING
$8,250,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$10,400,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,360,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$8,635,000
Change: +5% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,340,000
Change: -11% · Conversion: Moderate
OFFICE BUILDING
$6,665,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$7.56M
Range $6.80M – $8.32M · ±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
$133 / 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
$185,247
Tax year 2023
Assessed value
$7,849,467
Assessed 2023
Previous assessed
$7,812,000
+0.5% YoY
Effective rate
2.36%
On assessed value
Land market value
$239,400
Improvement market value
$7,685,000
Total market value
$7,924,400
Applied tax rate
11.0000
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
1900
Construction
BRICK
Heating
STEAM
Stories
9
Units
1
Total area
56,776 SF
Lot
0.18 ac (7,982 SF)
Zoning code
OR-2
APN
11-12-0506 -017
UPID
US40-0169979
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
OR-2 · Baltimore, MD
Zoning OR-2 · permitted uses
OR-2 · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$8.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.4M
COMMERCIAL (GENERAL)
Est. value
$9.4M
WAREHOUSE, STORAGE
Est. value
$8.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.3M
OFFICE BUILDING
Est. value
$6.7M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1900
Construction
BRICK
Heating
STEAM
Stories
9
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Shoetan Brothers Limited
Individual
Mailing address
1651 CONEY IS AVE STE #4, BROOKLYN, NY 11230-5856
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2024
$477,000
Shoetan Brothers Limited
Marie Ransome
Deed
—
Mar 2, 2022
—
Marie Ransome
—
Deed
related
$360,000 · M & T Bank
Nov 17, 2021
—
Daejan 11 E Chase LLC
—
Deed
related
$6,207,000 · Capital One Bank NA
Feb 2, 2021
$450,000
Marie Ransome
Baltimore Chapter Amer Inst Of Arch
Deed
$382,500 · Baltimore Chapter American Istitute
Jun 28, 2016
—
Daejan 11 E Chase LLC
—
Deed
related
$8,190,000 · Customers Bank
Dec 18, 2002
$2,850,000
Daejan 11 E Chase LLC
11 E Chase Associates Lllp
Grant Deed
related
$2,400,000 · Arasta Finances USA INC
—
—
11 E Chase Associates Lllp
—
Deed Of Trust
related
$150,000 · 11 E Chase LLC
—
—
W Gary Gray Trustee
—
Deed Of Trust
related
$8,000 · Taylor Trust
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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