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Property profile & analytics
OFF-MARKET
Estimated value
$8,560,000
Hospitals
1601 Belvedere Ave Baltimore, MD 21239-3004
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US40-0975546
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1996
Construction
BRICK
Total area
51,788 SF
Lot
9.08 ac (395,525 SF)
Zoning code
H
APN
27-10-5256 -002
UPID
US40-0975546
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
-
FutureCare - Good Samaritian Rehabilitation Center
-
Future Care Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.56M
Blend (final)
Blend
$8.56M
Owner & transaction history
Woodbourne Woods INC · 23 yrs held
Woodbourne Woods INC
since 2002
6 recorded transactions
Zoning & alternative use
H · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
H Hospital Campus Zoning Districts are intended to address the special needs and impacts of large-scale, multi-functional hospitals and medical campuses, including hospital-related and support service uses, such as offices and commercial uses
Zone name
Hospital Campus
General category
CIVIC_INSTITUTIONAL
Zone area
605.29 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$12.0M
+58.8%
Restaurant
$11.8M
+56.5%
Office building
$10.6M
+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
$7,525,000
Current use
AUTO REPAIR, GARAGE
$11,950,000
Change: +59% · Conversion: Difficult
RESTAURANT
$11,775,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$10,635,000
Change: +41% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$9,485,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,540,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$7,880,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$7,215,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$8.56M
Range $7.70M – $9.42M · ±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
$165 / 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
$209,666
Tax year 2023
Assessed value
$8,884,133
Assessed 2023
Previous assessed
$7,692,067
+15.5% YoY
Effective rate
2.36%
On assessed value
Land market value
$1,815,800
Improvement market value
$8,260,400
Total market value
$10,076,200
Applied tax rate
27.0000
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1996
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
146
Total area
51,788 SF
Lot
9.08 ac (395,525 SF)
Zoning code
H
APN
27-10-5256 -002
UPID
US40-0975546
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
H · Baltimore, MDZoning H · permitted uses
H · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
H Hospital Campus Zoning Districts are intended to address the special needs and impacts of large-scale, multi-functional hospitals and medical campuses, including hospital-related and support service uses, such as offices and commercial uses
Zone name
Hospital Campus
General category
CIVIC_INSTITUTIONAL
Zone area
605.29 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$12.0M
RESTAURANT
Est. value
$11.8M
OFFICE BUILDING
Est. value
$10.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.5M
COMMERCIAL (GENERAL)
Est. value
$8.5M
WAREHOUSE, STORAGE
Est. value
$7.9M
RETAIL STORES
Est. value
$7.2M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
1996
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
146
Lot
9.08 ac
Current owner
From public records · entity-resolved
Woodbourne Woods INC
Entity
Mailing address
8028 RITCHIE HWY STE #118, PASADENA, MD 21122-1069
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2002
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
Mar 15, 2019
—
1601 East Belvedere LLC
—
Deed
related
$12,000,000 · Pnc Bk
Aug 26, 2016
—
1601 East Belvedere LLC
—
Deed
related
$8,480,000 · Pnc Bk
Aug 7, 2002
—
Woodbourne Woods INC
Good Samaritan Nursing Center
Grant Deed
$5,616,000 · Hud
—
—
1601 East Belvedere LLC
—
Loan Modification
related
$12,000,000 · Pnc Bk
—
—
1601 East Belvedere LLC
—
Deed Of Trust
related
$8,480,000 · Pnc Bk
—
—
Woodbourne Woods INC
—
Deed Of Trust
related
$190,000 · Department Housing Comm Dev Md
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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