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Property profile & analytics
OFF-MARKET
Estimated value
$4,815,000
Outlet malls
130 Ridgely Rd Lutherville, MD 21093-5114
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-2398845
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1997
Construction
BRICK
Total area
24,711 SF
Lot
12.77 ac (556,261 SF)
Zoning code
BL
APN
08-0801013450
UPID
US40-2398845
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
$5.38M
Comparable Approach
Comparable
$4.92M
Blend (final)
Blend
$4.82M
Owner & transaction history
Lutherville Station LLC · 3 yrs held
Lutherville Station LLC
since 2023
6 recorded transactions
Zoning & alternative use
BL · Lutherville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$6.4M
+21.3%
Office building
$5.9M
+11.3%
Medical building
$5.6M
+6.6%
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 Lutherville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lutherville 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%
$5,830,000
6.5%
$5,380,000
7%
$4,995,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,265,000
Current use
WAREHOUSE, STORAGE
$6,390,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$5,860,000
Change: +11% · Conversion: Easy
MEDICAL BUILDING
$5,615,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$4.82M
Range $4.33M – $5.30M · ±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
$195 / 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
$103,981
Tax year 2023
Assessed value
$8,474,200
Assessed 2023
Previous assessed
$9,000,000
-5.8% YoY
Effective rate
1.23%
On assessed value
Assessed land
$7,981,200
Assessed improvement
$493,000
Land market value
$7,981,200
Improvement market value
$493,000
Total market value
$8,474,200
Applied tax rate
8.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1997
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
5
Stories
1
Units
7
Total area
24,711 SF
Lot
12.77 ac (556,261 SF)
Zoning code
BL
APN
08-0801013450
UPID
US40-2398845
Jurisdiction
BALTIMORE
Zoning & alternative use
BL · Lutherville, MD
Zoning BL · permitted uses
BL · Lutherville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lutherville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.3M
WAREHOUSE, STORAGE
Est. value
$6.4M
OFFICE BUILDING
Est. value
$5.9M
MEDICAL BUILDING
Est. value
$5.6M
RETAIL STORES Current
WAREHOUSE, STORAGE
OFFICE BUILDING
MEDICAL 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
1997
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
5
Units
7
Lot
12.77 ac
Current owner
From public records · entity-resolved
Lutherville Station LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2328 W JOPPA RD STE #200, LUTHERVILLE, MD 21093-4674
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 14, 2026
—
Ls Be LLC
—
Deed
related
$3,145,625 · Univest Bank & Trust Co
Jan 25, 2023
—
Lutherville Station LLC
Schwaber Ls LLC
Deed
—
Feb 10, 2021
$9,000,000
Schwaber Ls LLC
170 West Ridgely Road Holdings LLC
Special Warranty Deed
—
Jun 29, 2006
$30,750,000
Hri Of Lutherville Station LLC
Lutherville Station Business Tru
Grant Deed
—
Jan 21, 2005
$667,000
Lutherville Station Business Trust
Ridgely Road LLC
Grant Deed
—
—
—
Lutherville Station Business Trust
—
Deed Of Trust
related
$59,263,400 · Bear Stearns Commercial Mtg
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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