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Property profile & analytics
FOR LEASE
Warehouses
1533 Progress Way Eldersburg, MD 21784
Entity Owned
8-yr Hold
Free & Clear
Property ID
US40-1767837
For Lease
1 / 2
$11,125,000
1533 Progress Way, Eldersburg, MD 21784
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Total area
200,000 SF
Lot
14.62 ac (636,847 SF)
Zoning code
I-1
APN
05-070384
UPID
US40-1767837
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
$13.28M
Blend (final)
Blend
$11.13M
Owner & transaction history
Merritt El4 LLC · 8 yrs held
Merritt El4 LLC
since 2017
4 recorded transactions
Zoning & alternative use
I-1 · Sykesville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Eldersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eldersburg 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
Blend value · Realmo final
$11.13M
Range $10.01M – $12.24M · ±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
$56 / 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
$79,998
Tax year 2023
Assessed value
$7,079,433
Assessed 2023
Previous assessed
$6,553,367
+8.0% YoY
Effective rate
1.13%
On assessed value
Land market value
$2,487,700
Improvement market value
$5,117,800
Total market value
$7,605,500
Applied tax rate
5.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2004
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
200,000 SF
Lot
14.62 ac (636,847 SF)
Zoning code
I-1
APN
05-070384
UPID
US40-1767837
Jurisdiction
CARROLL
Zoning & alternative use
I-1 · Sykesville, MD
Zoning I-1 · permitted uses
I-1 · Sykesville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sykesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2004
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
14.62 ac
Current owner
From public records · entity-resolved
Merritt El4 LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2066 LORD BALTIMORE DR, BALTIMORE, MD 21244-2501
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2017
—
Merritt El4 LLC
Merritt-el4 LLC
Quit Claim Deed
related
—
Jun 7, 2005
$10,150,000
Merritt-old Baynorth-el4 LLC
Eldersburg Business Center INC
Grant Deed
—
—
—
Eldersburg Business Center INC
—
Deed Of Trust
related
$6,412,000 · Manufacturers Traders & Trust
—
—
Merritt-old Baynorth El4 LLC
—
Deed Of Trust
related
$7,200,000 · Nationwide Life Insurance Co
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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