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Property profile & analytics
OFF-MARKET
Estimated value
$22,360,000
Apartment buildings
1903 Towne Ctr Blvd Annapolis, MD 21401-3179
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US40-1565903
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2013
Total area
223,239 SF
Lot
1.82 ac (79,105 SF)
Zoning code
TC
APN
02-010-90235153
UPID
US40-1565903
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
-
Crosswinds at Annapolis Town Center Real Estate Agency
-
EVgo Charging Station Electric Vehicle Charging Station
-
Fowler and Fowler Law, LLC Law Firm
-
Puricleanse - Annapolis Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.38M
Blend (final)
Blend
$22.36M
Owner & transaction history
Land Bay 15 Apartments Atc II · 14 yrs held
Land Bay 15 Apartments Atc II
since 2012
1 recorded transaction
Zoning & alternative use
TC · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$36.2M
+159.4%
Auto repair, garage
$26.9M
+92.9%
Warehouse, storage
$24.3M
+74.5%
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$13,950,000
Current use
RESTAURANT
$36,195,000
Change: +159% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,910,000
Change: +93% · Conversion: Difficult
WAREHOUSE, STORAGE
$24,340,000
Change: +74% · Conversion: Difficult
Blend value · Realmo final
$22.36M
Range $20.12M – $24.60M · ±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
$100 / 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
$587,556
Tax year 2023
Assessed value
$53,805,500
Assessed 2023
Previous assessed
$53,805,500
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$10,750,000
Assessed improvement
$43,055,500
Land market value
$10,750,000
Improvement market value
$43,055,500
Total market value
$53,805,500
Applied tax rate
2.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2013
Heating
YES
Cooling
YES
Stories
5
Units
215
Total area
223,239 SF
Lot
1.82 ac (79,105 SF)
Zoning code
TC
APN
02-010-90235153
UPID
US40-1565903
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
TC · Annapolis, MD
Zoning TC · permitted uses
TC · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$14.0M
RESTAURANT
Est. value
$36.2M
AUTO REPAIR, GARAGE
Est. value
$26.9M
WAREHOUSE, STORAGE
Est. value
$24.3M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
Year built
2013
Heating
YES
Cooling
Yes
Stories
5
Units
215
Lot
1.82 ac
Current owner
From public records · entity-resolved
Land Bay 15 Apartments Atc II
Individual
Mailing address
6406 IVY LN STE #700, GREENBELT, MD 20770-1435
Ownership since
2012
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
Mar 7, 2012
$7,500,000
Land Bay 15 Apartments Atc II
Atc Of Parole Business Trust
Grant Deed
related
$32,400,000 · Pnc 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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