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Property profile & analytics
FOR LEASE
Medical Office Space
1812 Ashland Ave, Baltimore, MD 21205
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1879240
For Lease
Contact for pricing
1812 Ashland Ave, Baltimore, MD 21205
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2016
Total area
170,000 SF
Lot
0.67 ac (29,316 SF)
Zoning code
BSC
APN
07-05-1585 -001A
UPID
US40-1879240
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
-
Starbucks Cafe & Coffee Shop
-
Thrive Earlier Detection Medical Group
-
WindMIL Therapeutics Corporate Office
-
FastForward Business Service Center
-
Third eye knowledge, LLC Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$45.92M
Blend (final)
Blend
$64.39M
Owner & transaction history
Vtr Ls 1812 Ashland LLC · 4 yrs held
Vtr Ls 1812 Ashland LLC
since 2021
Last sale
$86.3M
1 recorded transaction
Zoning & alternative use
BSC · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$39.2M
+58.8%
Restaurant
$38.7M
+56.5%
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
AUTO REPAIR, GARAGE
$39,225,000
Change: +59% · Conversion: Difficult
RESTAURANT
$38,660,000
Change: +56% · Conversion: Difficult
Blend value · Realmo final
$64.39M
Range $57.95M – $70.82M · ±10% · vs last sale $86.30M (Jul 20 2021)
Last sale anchor
$86.30M
Jul 20 2021
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
$379 / 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
$1,128,591
Tax year 2023
Assessed value
$47,821,667
Assessed 2023
Previous assessed
$31,411,400
+52.2% YoY
Effective rate
2.36%
On assessed value
Land market value
$879,400
Improvement market value
$79,762,800
Total market value
$80,642,200
Applied tax rate
7.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2016
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
7
Units
1
Total area
170,000 SF
Lot
0.67 ac (29,316 SF)
Zoning code
BSC
APN
07-05-1585 -001A
UPID
US40-1879240
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
BSC · Baltimore, MD
Zoning BSC · permitted uses
BSC · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$39.2M
RESTAURANT
Est. value
$38.7M
AUTO REPAIR, GARAGE
RESTAURANT
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
2016
Heating
HOT WATER
Cooling
Yes
Stories
7
Units
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Vtr Ls 1812 Ashland LLC
Entity
Mailing address
PO BOX 71970, PHOENIX, AZ 85050-1017
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2021
$86,300,000
Vtr Ls 1812 Ashland LLC
Fc 1812 Ashland LLC
Deed
$56,389,800 · Vlshre Op LP
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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