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    Property profile & analytics

    17 Lgt St Baltimore, MD 21202-1228

    • Hotels
    • 135,360 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $13,360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0340334
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • 17 Light Restaurant / Restaurant
    • Residence Inn Baltimore Downtown/ Inner Harbor / Hotel & Motel
    • Brook's Kids / Tanning Salon
    • Urban Roost Sports Bar and Grill / Restaurant
    • Penn station / Freight Service / Logistics Company

    Property Details for 17 Lgt St

    Year built
    2005
    Lot size
    0.23 lot acres
    Property size
    135,360 SF
    Zone code
    C-5TO
    Property type
    Hotels
    APN
    04-11-0661 -016
    APU
    4110661016

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,580,000
      6.5%
      $12,535,000
      7%
      $11,640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $11,005,000
      Market price range: $1.85M - $16.8M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $20,865,000
      Current use
      WAREHOUSE, STORAGE
      $20,590,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $19,670,000
      Change: -6% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $17,495,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.6132
    Latitude
    39.2887
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $457,193
    $3,476,200
    $15,896,400
    $19,372,600
    -
    $3,476,200
    $15,896,400
    $19,372,600

    Comparable in this City

    • Value Estimation by Request
      621,210 SF

      700 Aliceanna St

      HOTEL • 621,210 SF
      700 Aliceanna St, Baltimore, MD 21202-4339
      View Details
    • Value Estimation
      $1,530,000
      21,240 SF

      20 Fayette St

      HOTEL • 21,240 SF
      20 Fayette St, Baltimore, MD 21202-1706
      View Details
    • Value Estimation
      $700,000
      12,684 SF

      50 Albemarle St

      HOTEL • 12,684 SF
      50 Albemarle St, Baltimore, MD 21202-4602
      View Details
    • Value Estimation by Request
      43,141 SF

      221 Gay St

      HOTEL • 43,141 SF
      221 Gay St, Baltimore, MD 21202-4811
      View Details
    • Value Estimation
      $6,365,000
      82,115 SF

      711 Eastern Ave

      HOTEL • 82,115 SF
      711 Eastern Ave, Baltimore, MD 21202-4694
      View Details
    • Value Estimation
      $10,530,000
      200,921 SF

      550 Lgt St

      HOTEL • 200,921 SF
      550 Lgt St, Baltimore, MD 21202-6001
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Renaissance Baltimore Harborplace Hotel

      Full-service Marriott hotel with 622 guestrooms in Baltimore, Maryland.
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      View Details
    • $1,700,000

      Prime Downtown Baltimore Development Opportunity

      Development site approved for a 155-room hotel.
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    • $1,200,000
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      Baltimore Bed & Breakfast Opportunity

      Licensed bed & breakfast in Little Italy with investment potential.
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    • $850,000
      5,625 SF

      15 Center St

      Retail space • 5,625 SF
      15 Center St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      0.02 Acres

      Baltimore Land Development Opportunity

      Unimproved end-of-group lot in a prime Baltimore location.
      401 Pitman Pl, Baltimore, MD 21202
      View Details
    • $899,998
      4,915 SF

      Mount Vernon Multi-Family Investment

      Four-unit property in Baltimore's historic Mount Vernon neighborhood.
      1113 N Calvert St, Baltimore, MD 21202
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    Similar Nearby for Lease

    • $17 SF/Yr

      Office Space Available For Lease

      9,687 square foot office space for lease.
      300 Albemarle St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      28,609 SF

      Office Space in Baltimore, MD

      Office space available for rent in Baltimore, Maryland.
      1000 Lancaster St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space Available For Rent

      5000 square feet of retail space for lease.
      1108 Light St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      820 SF

      Retail Space Near University

      Grocery-anchored retail space with abundant parking and on-site security.
      1203-1209 W Pratt St, Baltimore, MD 21202
      View Details
    • Contact for pricing

      Turn-Key Retail Space Available

      Prime location retail spaces with ground level access and amenities.
      10 Light St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      2,220 SF

      Restaurant Space in Central Baltimore

      Second generation restaurant space with existing infrastructure in downtown Baltimore.
      7 N Calvert St, Baltimore, MD 21202
      View Details
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    17 Lgt St
    Baltimore, MD 21202-1228
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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