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Property profile & analytics
FOR LEASE
Community centers
1523 Rock Spring Rd, Forest Hill, MD 21050
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US40-0593773
For Lease
1 / 3
$740,000
1523 Rock Spring Rd, Forest Hill, MD 21050
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2008
Total area
13,732 SF
Lot
3.31 ac (144,184 SF)
Zoning code
AG
APN
03-064271
UPID
US40-0593773
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
-
Chung's Martial Arts Training Center Sports School
-
Chopstix Forest Hill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$740k
Blend (final)
Blend
$740k
Owner & transaction history
Ch Retail Fund I Of Baltimore Bel · 10 yrs held
Ch Retail Fund I Of Baltimore Bel
since 2015
6 recorded transactions
Zoning & alternative use
AG · Forest Hill, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.2M
+112.3%
Industrial (general)
$895,000
+62.7%
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 Forest Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Hill 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
NEIGHBORHOOD: SHOPPING CENTER
$550,000
Current use
WAREHOUSE, STORAGE
$1,165,000
Change: +112% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$895,000
Change: +63% · Conversion: Difficult
Blend value · Realmo final
$740k
Range $666k – $814k · ±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
$54 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$27,188
Tax year 2022
Assessed value
$2,570,500
Assessed 2023
Previous assessed
$2,494,500
+3.0% YoY
Effective rate
1.06%
On assessed value
Land market value
$1,200,500
Improvement market value
$1,522,000
Total market value
$2,722,500
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
2008
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
13,732 SF
Lot
3.31 ac (144,184 SF)
Zoning code
AG
APN
03-064271
UPID
US40-0593773
Jurisdiction
HARFORD
Zoning & alternative use
AG · Forest Hill, MD
Zoning AG · permitted uses
AG · Forest Hill, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$550,000
WAREHOUSE, STORAGE
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$895,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
2008
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
3.31 ac
Current owner
From public records · entity-resolved
Ch Retail Fund I Of Baltimore Bel
Entity
Mailing address
3520 PIEDMONT RD NE STE #410, ATLANTA, GA 30305-1512
Ownership since
2015
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
Sep 2, 2025
—
Ch Retail Fund I Baltimore Bel Air
—
Deed
related
$11,284,280 · Morgan Stanley Mortgage Capital Holdings
Sep 2, 2022
—
Ch Retail Fund I Baltimore Bel Air
—
Deed
related
$335,000,000 · Metlife Real Estate Lending LLC
Feb 7, 2017
—
Ch Retail Fund I Of Baltimore Bel
—
Grant Deed
related
$49,700,000 · Miscellaneous Ins Co
Dec 7, 2015
$16,500,000
Ch Retail Fund I Of Baltimore Bel
Ep Bel Air Holdings LLC
Grant Deed
—
Dec 29, 1999
$3,650,000
Hg Bel Air Holdings LLC
Streett,mary S
Grant Deed
related
—
—
—
Ep Bel Air Holdings LLC
—
Loan Modification
related
$10,750,000 · Susquehanna Bk
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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