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Property profile & analytics
OFF-MARKET
Estimated value
$3,065,000
Medical Office Space
1501 Division St Baltimore, MD 21217-3121
Entity Owned
Free & Clear
Property ID
US40-1142188
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1979
Construction
BRICK
Total area
15,606 SF
Lot
1.52 ac (66,080 SF)
Zoning code
R-8
APN
14-12-0362 -021
UPID
US40-1142188
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
-
Division Health Center Community Health Centre Health Care Facility
-
Clinica dental Hospital
-
Total Health Care Medical Clinic
-
Dr. Ademiposi A. Adegbulugbe, MD Physician
-
Wedlake Tiffany M Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.22M
Blend (final)
Blend
$3.07M
Owner & transaction history
WEST BALTIMORE COMMUNITY
WEST BALTIMORE COMMUNITY
Zoning & alternative use
R-8 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The R-8 Rowhouse Residential Zoning District is intended to accommodate and maintain the traditional form of urban rowhouse development typical of many of the City's inner neighborhoods, which contain continuous, block-long rowhouse development built to or only modestly set back from the street.
Zone name
Row House And Multifamily Residential
General category
RESIDENTIAL
Zone area
4,119.54 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$3.6M
+58.8%
Restaurant
$3.6M
+56.5%
Office building
$3.2M
+41.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,270,000
Current use
AUTO REPAIR, GARAGE
$3,600,000
Change: +59% · Conversion: Difficult
RESTAURANT
$3,550,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$3,205,000
Change: +41% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,860,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,375,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$2,175,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,015,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$3.07M
Range $2.76M – $3.37M · ±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
$196 / 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
Assessed value
$3,341,133
Assessed 2023
Previous assessed
$3,179,900
+5.1% YoY
Land market value
$660,800
Improvement market value
$3,002,800
Total market value
$3,663,600
Applied tax rate
14.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1979
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
15,606 SF
Lot
1.52 ac (66,080 SF)
Zoning code
R-8
APN
14-12-0362 -021
UPID
US40-1142188
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
R-8 · Baltimore, MDZoning R-8 · permitted uses
R-8 · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The R-8 Rowhouse Residential Zoning District is intended to accommodate and maintain the traditional form of urban rowhouse development typical of many of the City's inner neighborhoods, which contain continuous, block-long rowhouse development built to or only modestly set back from the street.
Zone name
Row House And Multifamily Residential
General category
RESIDENTIAL
Zone area
4,119.54 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$3.6M
RESTAURANT
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1979
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
WEST BALTIMORE COMMUNITY
Individual
Free & Clear · 0 yrs held
Mailing address
1501 DIVISION ST, BALTIMORE, MD 21217-3121
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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