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Property profile & analytics
FOR LEASE
Industrial properties
1135 Business Pkwy S, Westminster, MD 21157
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-1462157
For Lease
1 / 2
$7,840,000
1135 Business Pkwy S, Westminster, MD 21157
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,875 SF
Lot
2.83 ac (123,275 SF)
Zoning code
INDUS
APN
07-081510
UPID
US40-1462157
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
-
Culinary Services Group Food And Beverage Consultant Contractor
-
Forbush School At Westminster Special Education Facility
-
Pamela Schneider Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.84M
Owner & transaction history
Rojen LP · 5 yrs held
Rojen LP
since 2021
Last sale
$8.0M
3 recorded transactions
Zoning & alternative use
INDUS · Westminster, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.6M
+28.5%
Auto repair, garage
$5.5M
+7.6%
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 Westminster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westminster 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
$7,735,000
ML approach
$7,615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,150,000
Current use
RETAIL STORES
$6,620,000
Change: +29% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,540,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$7.84M
Range $7.06M – $8.62M · ±10% · vs last sale $8.00M (Mar 10 2021)
Last sale anchor
$8.00M
Mar 10 2021
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
$246 / 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
$28,838
Tax year 2023
Assessed value
$1,706,400
Assessed 2023
Previous assessed
$1,605,833
+6.3% YoY
Effective rate
1.69%
On assessed value
Assessed land
$279,000
Assessed improvement
$1,427,400
Land market value
$279,000
Improvement market value
$1,427,400
Total market value
$1,706,400
Applied tax rate
71.0000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
For Lease
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
31,875 SF
Lot
2.83 ac (123,275 SF)
Zoning code
INDUS
APN
07-081510
UPID
US40-1462157
Jurisdiction
CARROLL
Zoning & alternative use
INDUS · Westminster, MD
Zoning INDUS · permitted uses
INDUS · Westminster, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Westminster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.2M
RETAIL STORES
Est. value
$6.6M
AUTO REPAIR, GARAGE
Est. value
$5.5M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
2.83 ac
Current owner
From public records · entity-resolved
Rojen LP
Entity
Mailing address
751 FREDERICK ST, HANOVER, PA 17331-9215
Ownership since
2021
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 10, 2021
$8,000,000
Rojen LP
Airpark Square LLC
Deed
$5,600,000 · Standard Insurance Co
Jan 16, 1998
$2,921,000
Butera Properties LLC
Gateway West LP IV
Grant Deed
—
—
—
Airpark Square LLC
—
Deed Of Trust
related
$4,425,000 · Sandy Spring Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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