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Property profile & analytics
OFF-MARKET
Estimated value
$2,245,000
Office buildings
12155 Elm St, Princess Anne, MD 21853-1348
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0243772
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Total area
17,786 SF
Lot
8.95 ac (389,775 SF)
Zoning code
C-2
APN
01-003852
UPID
US40-0243772
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
-
Somerset County Maryland District Court Corporate Office
-
Juvenile Services Department Prison
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.12M
Blend (final)
Blend
$2.25M
Owner & transaction history
Collegiate Rental LLC · 4 yrs held
Collegiate Rental LLC
since 2022
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
C-2 · Princess Anne, 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 Princess Anne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Princess Anne 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
$2,395,000
ML approach
$2,260,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,995,000
Current use
COMMERCIAL (GENERAL)
$2,980,000
Change: 0% · Conversion: Easy
RETAIL STORES
$2,465,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$2.25M
Range $2.02M – $2.47M · ±10% · vs last sale $2.17M (Apr 11 2022)
Last sale anchor
$2.17M
Apr 11 2022
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
$126 / 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
$22,696
Tax year 2023
Assessed value
$2,041,000
Assessed 2023
Previous assessed
$2,041,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$637,600
Assessed improvement
$1,403,400
Land market value
$637,600
Improvement market value
$1,403,400
Total market value
$2,041,000
Applied tax rate
2.0000
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
1984
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
17,786 SF
Lot
8.95 ac (389,775 SF)
Zoning code
C-2
APN
01-003852
UPID
US40-0243772
Jurisdiction
SOMERSET
Zoning & alternative use
C-2 · Princess Anne, MD
Zoning C-2 · permitted uses
C-2 · Princess Anne, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Princess Anne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$3.0M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING Current
COMMERCIAL (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
1984
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
8.95 ac
Current owner
From public records · entity-resolved
Collegiate Rental LLC
Entity
Mailing address
318 W CARROLL ST STE #28, SALISBURY, MD 21801-5305
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2022
$2,165,000
Collegiate Rental LLC
A & A Realty Of Somerset County INC
Deed
$1,800,000 · County Bank
Sep 19, 2019
—
A & A Realty Of Somerset Cnty Mar
—
Deed
related
—
Sep 1, 2016
$425,000
Paula K Green & Associates INC
A & A Realty Of Somerset County INC
Grant Deed
$450,000 · A&a Realty/somerset County INC
May 10, 2010
$300,000
Sai Partners LP
A & A Realty Of Somerset County I
Grant Deed
$750,000 · Manufacturers Traders & Trust
Dec 12, 2002
$125,000
Three Lower Counties Comm Svcs
A & A Realty Of Somerset Count
Grant Deed
—
Jul 26, 2002
$950,000
A & A Realty Of Somerset Cty
Eastern Shore Markets INC
Grant Deed
$1,350,000 · Peninsula Bank
—
—
A & A Realty Of Somerset Cnty Mar
—
Loan Modification
related
—
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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