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Property profile & analytics
OFF-MARKET
Estimated value
$9,745,000
Office buildings
1121 Benfield Blvd Millersville, MD 21108-2638
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1057374
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Construction
BRICK
Total area
15,234 SF
Lot
18.7 ac (814,572 SF)
Zoning code
W1
APN
04-000-90070353
UPID
US40-1057374
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
-
L3Harris Technologies Industrial Manufacturer Production Facility
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.75M
Owner & transaction history
Ritche At Cypress Associates LLC · 4 yrs held
Ritche At Cypress Associates LLC
since 2022
3 recorded transactions
Zoning & alternative use
W1 · Millersville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Millersville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millersville 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
OFFICE BUILDING
$7,630,000
Current use
RESTAURANT
$7,400,000
Change: -3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,480,000
Change: -15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,385,000
Change: -16% · Conversion: Difficult
RETAIL STORES
$6,315,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$9.75M
Range $8.77M – $10.72M · ±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
$640 / 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
$195,060
Tax year 2023
Assessed value
$17,862,633
Assessed 2023
Previous assessed
$17,861,300
+0.0% YoY
Effective rate
1.09%
On assessed value
Land market value
$3,933,200
Improvement market value
$13,932,100
Total market value
$17,865,300
Applied tax rate
4.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1994
Construction
BRICK
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
6
Total area
15,234 SF
Lot
18.7 ac (814,572 SF)
Zoning code
W1
APN
04-000-90070353
UPID
US40-1057374
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1 · Millersville, MD
Zoning W1 · permitted uses
W1 · Millersville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millersville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.6M
RESTAURANT
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$6.5M
INDUSTRIAL (GENERAL)
Est. value
$6.4M
RETAIL STORES
Est. value
$6.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1994
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
6
Lot
18.7 ac
Current owner
From public records · entity-resolved
Ritche At Cypress Associates LLC
Entity
Mailing address
2560 LORD BALTIMORE DR, BALTIMORE, MD 21244-2677
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jun 2, 2022
—
Ritche At Cypress Associates LLC
—
Deed
related
$39,000,000 · Great West Life & Annuity Insurance Co
—
—
Ritchie At Cypress Assocs LLC
—
Deed Of Trust
related
$21,700,000 · Security Benefit Life Ins Co
—
—
Ritchie Of Cypress Assocs LLC
—
Deed Of Trust
related
$17,300,000 · Travelers Insurance
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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