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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Investment properties
188 Duke Of Gloucester St Annapolis, MD 21401-2515
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-0794379
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Construction
BRICK
Total area
2,670 SF
Lot
0.06 ac (2,400 SF)
Zoning code
C1
APN
06-000-07472008
UPID
US40-0794379
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
$500k
Comparable Approach
Comparable
$919k
Blend (final)
Blend
$780k
Owner & transaction history
Matthew August Hartman · 5 yrs held
Matthew August Hartman
since 2021
Last sale
$915,000
7 recorded transactions
Zoning & alternative use
C1 · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+22.8%
Retail stores
$1.1M
+19.6%
Medical building
$980,000
+5.7%
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 Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis 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%
$540,000
6.5%
$500,000
7%
$465,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$925,000
Current use
AUTO REPAIR, GARAGE
$1,135,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$1,105,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$980,000
Change: +6% · Conversion: Easy
WAREHOUSE, STORAGE
$890,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$780k
Range $702k – $858k · ±10% · vs last sale $915k (Jun 15 2021)
Last sale anchor
$915k
Jun 15 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
$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
$12,950
Tax year 2023
Assessed value
$901,800
Assessed 2023
Previous assessed
$896,767
+0.6% YoY
Effective rate
1.44%
On assessed value
Assessed land
$636,200
Assessed improvement
$265,600
Land market value
$636,200
Improvement market value
$265,600
Total market value
$901,800
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Construction
BRICK
Heating
HOT WATER
Cooling
YES
Stories
3
Units
1
Bathrooms
3
Total area
2,670 SF
Lot
0.06 ac (2,400 SF)
Zoning code
C1
APN
06-000-07472008
UPID
US40-0794379
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C1 · Annapolis, MD
Zoning C1 · permitted uses
C1 · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Annapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$925,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$980,000
WAREHOUSE, STORAGE
Est. value
$890,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
BRICK
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
1
Bathrooms
3
Lot
0.06 ac
Current owner
From public records · entity-resolved
Matthew August Hartman
Individual
Mailing address
188 DUKE OF GLOUCESTER ST, ANNAPOLIS, MD 21401-2515
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2021
$915,000
Matthew August Hartman
Christopher Douma
Deed
$732,000 · Crosscountry Mortgage LLC
May 25, 2021
—
Christopher Douma
—
Deed
related
$407,500 · Jpmorgan Chase Bank NA
Feb 5, 2015
$775,000
Christopher Douma
Christopher Underwood
Deed
$620,000 · Bay Capital Mortgage Corp
Apr 1, 2014
$330,000
Christopher Underwood
Wohlgemuth,thomas J SR
Grant Deed
—
Jun 22, 2011
—
Thomas J Wohlgemuth SR.
Wohlgemuth,thomas J SR
Quit Claim Deed
related
—
May 20, 2011
—
Thomas J Wohlgemuth SR.
Wohlgemuth,thomas J SR
Quit Claim Deed
related
—
Dec 7, 2009
—
Thomas J Wohlgemuth SR.
Wohlgemuth,thomas J SR
Quit Claim Deed
related
—
Oct 24, 2006
—
Thomas J Wohlgemuth SR.
Wohlgemuth,thomas J SR
Quit Claim Deed
related
—
—
—
Christopher Douma
—
Deed Of Trust
related
$618,000 · Bay Cap Mtg
—
—
Thomas J Wohlgemuth SR.
—
Deed Of Trust
related
$300,000 · Severn Savings Bank Fsb
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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