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Property profile & analytics
OFF-MARKET
Estimated value
$1,765,000
Retail space
1408 Merritt Blvd Baltimore, MD 21222-2110
Entity Owned
1-yr Hold
Free & Clear
Property ID
US40-1718235
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Construction
BRICK
Total area
8,593 SF
Lot
2.63 ac (114,563 SF)
Zoning code
BM
APN
12-1800004817
UPID
US40-1718235
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
-
Dundalk PLaza Business Service Center Corporate Office
-
AutoZone Auto Parts Auto Parts Store
-
Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.87M
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$1.77M
Owner & transaction history
Towne Centre LLC · 1 yrs held
Towne Centre LLC
since 2024
2 recorded transactions
Zoning & alternative use
BM · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+65.7%
Restaurant
$2.0M
+63.3%
Office building
$1.8M
+47.4%
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 Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore 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%
$2,025,000
6.5%
$1,870,000
7%
$1,735,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,195,000
Current use
AUTO REPAIR, GARAGE
$1,985,000
Change: +66% · Conversion: Difficult
RESTAURANT
$1,955,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$1,765,000
Change: +47% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,575,000
Change: +31% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,415,000
Change: +18% · Conversion: Easy
WAREHOUSE, STORAGE
$1,305,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$1,250,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.77M
Range $1.59M – $1.94M · ±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
$205 / 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
$10,330
Tax year 2023
Assessed value
$1,552,400
Assessed 2023
Previous assessed
$1,552,400
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$889,000
Assessed improvement
$663,400
Land market value
$889,000
Improvement market value
$663,400
Total market value
$1,552,400
Applied tax rate
12.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
8,593 SF
Lot
2.63 ac (114,563 SF)
Zoning code
BM
APN
12-1800004817
UPID
US40-1718235
Jurisdiction
BALTIMORE
Zoning & alternative use
BM · Baltimore, MD
Zoning BM · permitted uses
BM · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RESTAURANT
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2001
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
2.63 ac
Current owner
From public records · entity-resolved
Towne Centre LLC
Entity
Free & Clear · 1 yrs held
Mailing address
9627 PHILADELPHIA RD STE #100, BALTIMORE, MD 21237-4155
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2024
—
Towne Centre LLC
Towne Centre Properties LP
Deed
—
May 1, 2017
$175,000
Merritt Apartments LLC
Towne Centre LLC
Deed
—
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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