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Property profile & analytics
OFF-MARKET
Estimated value
$2,365,000
Medical Office Space
1515 Wn Ave Baltimore, MD 21217-1735
Individually Owned
Free & Clear
Property ID
US40-0905987
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1960
Construction
BRICK
Total area
26,648 SF
Lot
0.63 ac (27,239 SF)
Zoning code
TOD-1
APN
14-05-0295 -002
UPID
US40-0905987
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
by Request
Comparable Approach
Comparable
$3.19M
Blend (final)
Blend
$2.37M
Owner & transaction history
MAYOR & CITY COUNCIL
MAYOR & CITY COUNCIL
Zoning & alternative use
TOD-1 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of TOD Transit-Oriented Development Zoning Districts is to encourage the location of uses and forms of development conducive to increased transit usage. This District is intended to promote new, well-integrated residential and commercial development around transit stations, to ensure that new development occurs in the form of compatible, higher d…
Zone name
Transit Oriented Development
General category
COMMERCIAL
Zone area
48.94 ac
Source
Realmo
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
$3,870,000
Current use
RETAIL STORES
$3,710,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,445,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$2.37M
Range $2.13M – $2.60M · ±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
$89 / 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
$2,454,633
Assessed 2023
Previous assessed
$2,327,700
+5.5% YoY
Land market value
$272,300
Improvement market value
$2,436,200
Total market value
$2,708,500
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
1960
Construction
BRICK
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
26,648 SF
Lot
0.63 ac (27,239 SF)
Zoning code
TOD-1
APN
14-05-0295 -002
UPID
US40-0905987
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
TOD-1 · Baltimore, MDZoning TOD-1 · permitted uses
TOD-1 · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of TOD Transit-Oriented Development Zoning Districts is to encourage the location of uses and forms of development conducive to increased transit usage. This District is intended to promote new, well-integrated residential and commercial development around transit stations, to ensure that new development occurs in the form of compatible, higher density, transit-friendly design in close proximity to transit systems, to encourage a pedestrian-orientation in new development, to decrease reliance on motor vehicles by increasing transit uses, and to encourage a mix of buildings and activities that provides settings for social interaction and active community life
Zone name
Transit Oriented Development
General category
COMMERCIAL
Zone area
48.94 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.9M
RETAIL STORES
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
MEDICAL BUILDING Current
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
1960
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
MAYOR & CITY COUNCIL
Individual
Free & Clear · 0 yrs held
Mailing address
1515 WN AVE, BALTIMORE, MD 21217-1735
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.
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