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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Warehouses
111 Industry Ln, Forest Hill, MD 21050-1621
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US40-0329641
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
BRICK
Total area
5,000 SF
Lot
1.08 ac (47,045 SF)
Zoning code
CI
APN
03-204286
UPID
US40-0329641
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$770k
Owner & transaction history
Muhlers LLC · 17 yrs held
Muhlers LLC
since 2009
4 recorded transactions
Zoning & alternative use
CI · Forest Hill, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+40.5%
Commercial (general)
$1.1M
+29.1%
Office building
$1.0M
+13.7%
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 Forest Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Hill 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
$890,000
Current use
RETAIL STORES
$1,245,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,145,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$1,010,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$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 2022Property tax & assessments
Tax year 2022
Tax billed
$6,282
Tax year 2022
Assessed value
$588,300
Assessed 2023
Previous assessed
$576,400
+2.1% YoY
Effective rate
1.07%
On assessed value
Land market value
$262,000
Improvement market value
$350,100
Total market value
$612,100
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
BRICK
Heating
SPACE
Stories
1
Units
2
Total area
5,000 SF
Lot
1.08 ac (47,045 SF)
Zoning code
CI
APN
03-204286
UPID
US40-0329641
Jurisdiction
HARFORD
Zoning & alternative use
CI · Forest Hill, MD
Zoning CI · permitted uses
CI · Forest Hill, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$890,000
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1987
Construction
BRICK
Heating
SPACE
Stories
1
Units
2
Lot
1.08 ac
Current owner
From public records · entity-resolved
Muhlers LLC
Entity
Free & Clear · 17 yrs held
Mailing address
1 BROCSTER CT, PHOENIX, MD 21131-1922
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2009
$660,000
Muhlers LLC
Griggs,james J
Grant Deed
—
—
—
James J Griggs
—
Deed Of Trust
related
$263,000 · Forest Hill State Bank
—
—
James J Griggs
—
Deed Of Trust
related
$295,000 · Farmers Bank Of Maryland
—
—
Muhlers LLC
—
Deed Of Trust
related
$609,495 · Gary S & Mary J Muhler
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.
Try Rey
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