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Property profile & analytics
OFF-MARKET
Estimated value
$820,000
Outlet malls
15513 Hanover Pike, Upperco, MD 21155-9740
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US40-0906053
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Construction
FRAME
Total area
2,808 SF
Lot
8.5 ac (370,260 SF)
APN
04-2300006587
UPID
US40-0906053
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
-
Spring Meadow Farms Hotel & Motel Resort
-
Farmer Stan's Plants & Produce Food Market Specialty Food Shop
-
The Bus Stop Grocery & Convenience Store Specialty Food Shop
-
Char’d Barbecue Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$610k
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$820k
Owner & transaction history
M&s Land LLC · 1 yrs held
M&s Land LLC
since 2025
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+111.3%
Commercial (general)
$935,000
+56.0%
Warehouse, storage
$725,000
+21.3%
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 Upperco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Upperco 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%
$660,000
6.5%
$610,000
7%
$570,000
Alternative Use
Use
Estimation
RETAIL STORES
$600,000
Current use
AUTO REPAIR, GARAGE
$1,265,000
Change: +111% · Conversion: Difficult
COMMERCIAL (GENERAL)
$935,000
Change: +56% · Conversion: Easy
WAREHOUSE, STORAGE
$725,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$665,000
Change: +11% · Conversion: Easy
MEDICAL BUILDING
$640,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$820k
Range $738k – $902k · ±10% · vs last sale $1.00M (Apr 30 2025)
Last sale anchor
$1.00M
Apr 30 2025
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
$292 / 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
$2,893
Tax year 2023
Assessed value
$477,333
Assessed 2023
Previous assessed
$467,100
+2.2% YoY
Effective rate
0.61%
On assessed value
Land market value
$278,700
Improvement market value
$219,100
Total market value
$497,800
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Construction
FRAME
Heating
NONE
Stories
1
Units
1
Total area
2,808 SF
Lot
8.5 ac (370,260 SF)
APN
04-2300006587
UPID
US40-0906053
Jurisdiction
BALTIMORE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$600,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$935,000
WAREHOUSE, STORAGE
Est. value
$725,000
OFFICE BUILDING
Est. value
$665,000
MEDICAL BUILDING
Est. value
$640,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
OFFICE BUILDING
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
Construction
FRAME
Heating
NONE
Stories
1
Units
1
Lot
8.5 ac
Current owner
From public records · entity-resolved
M&s Land LLC
Entity
Mailing address
15513 HANOVER PIKE, UPPERCO, MD 21155-9740
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2025
$1,000,000
M&s Land LLC
Dabkowski Real Estate LLC
Deed
$1,000,000 · Farmers & Merchants Bank
Jan 22, 2021
$500,000
Dabkowski Real Estate LLC
Spring Meadow Station LLC
Grant Deed
$520,000 · Farmers & Merchants Nat'l Bk
Jun 16, 2017
—
Spring Meadow Station LLC
—
Deed
related
$350,000 · Howard Bank
Jan 10, 2014
$350,000
Spring Meadow Station LLC
Four Parcels INC
Deed
—
May 21, 2013
$658,500
Four Parcels INC
Schuster Eric S
Trustees Deed
related
—
Jun 8, 2011
$1,250,000
Regency Properties LLC
Dabkowski,stanley J & Kelly J
Grant Deed
$1,390,000 · Susquehanna Bank
Jun 29, 1999
$300,000
Stanley J Dabkowski
Lippy Brothers INC
Grant Deed
$250,000 · Farmers & Mechanics Bank
—
—
Stanley Dabkowski
—
Deed Of Trust
related
$38,154 · Farmers & Merchants Bk & Tr
—
—
Spring Meadow Farms
—
Deed Of Trust
related
$40,000 · Farmers & Merchants Bk & Tr
—
—
Stanley J Dabkowski
—
Deed Of Trust
related
$50,000 · New Windsor State Bank
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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