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Property profile & analytics
FOR LEASE
Grocery and convenience stores
1906 Towne Centre Blvd Annapolis, MD 21401
Entity Owned
~
Est. High Equity
Property ID
US40-0609913
For Lease
1 / 2
$21,820,000
1906 Towne Centre Blvd, Annapolis, MD 21401
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2009
Total area
69,668 SF
Lot
4.79 ac (208,652 SF)
Zoning code
TC
APN
02-010-90225785
UPID
US40-0609913
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
-
Include Software (Bike/Boat/Book/etc) Store Corporate Office
-
Howes Mark W Law Firm
-
Tempur-Pedic Flagship Store Furniture & Home Goods
-
The Law Offices of Thomas A Pavlinic Law Firm
-
Charlotte K. Weinstein, Esquire Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.17M
Comparable Approach
Comparable
$24.77M
Blend (final)
Blend
$21.82M
Owner & transaction history
Fr Annapolis Tc LLC
Fr Annapolis Tc LLC
since 2026
7 recorded transactions
Zoning & alternative use
TC · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$33.8M
+17.2%
Industrial (general)
$31.7M
+9.9%
Auto repair, garage
$29.6M
+2.6%
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%
$16,435,000
6.5%
$15,170,000
7%
$14,085,000
Alternative Use
Use
Estimation
RETAIL STORES
$28,870,000
Current use
RESTAURANT
$33,845,000
Change: +17% · Conversion: Easy
INDUSTRIAL (GENERAL)
$31,735,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$29,630,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$25,510,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$24,140,000
Change: -16% · Conversion: Easy
WAREHOUSE, STORAGE
$23,230,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$21.82M
Range $19.64M – $24.00M · ±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
$313 / 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
$767,959
Tax year 2023
Assessed value
$70,325,900
Assessed 2023
Previous assessed
$92,575,800
-24.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$6,706,000
Assessed improvement
$63,619,900
Land market value
$6,706,000
Improvement market value
$63,619,900
Total market value
$70,325,900
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
2009
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
2
Units
4
Total area
69,668 SF
Lot
4.79 ac (208,652 SF)
Zoning code
TC
APN
02-010-90225785
UPID
US40-0609913
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
RETAIL STORES Current
Est. value
$28.9M
RESTAURANT
Est. value
$33.8M
INDUSTRIAL (GENERAL)
Est. value
$31.7M
AUTO REPAIR, GARAGE
Est. value
$29.6M
MEDICAL BUILDING
Est. value
$25.5M
COMMERCIAL (GENERAL)
Est. value
$24.1M
WAREHOUSE, STORAGE
Est. value
$23.2M
RETAIL STORES Current
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2009
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
4
Lot
4.79 ac
Current owner
From public records · entity-resolved
Fr Annapolis Tc LLC
Entity
Mailing address
1906 TOWNE CTR BLVD, ANNAPOLIS, MD 21401-3676
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2026
$13,450,365
Fr Annapolis Tc LLC
Atc At Parole Business Trust
Special Warranty Deed
—
Jan 12, 2026
$173,549,635
Fr Annapolis Tc LLC
Annapolis Towne Centre At Parole Ll
Special Warranty Deed
—
Sep 8, 2025
$1,175,000
265 Towne Centre Holdings LLC
Thomas A Pavlinic
Deed
$910,000 · Thomas A Pavlinic Etal
Jun 6, 2024
—
Thomas A Pavlinic
—
Deed
related
$389,698 · Pnc Bank NA
Sep 22, 2022
$580,000
Tanyard Holdings LLC
Mark W Howes
Deed
$493,000 · Cfg Community Bank
Jun 22, 2022
—
Thomas A Pavlinic
Thomas A Pavlinic
Deed
—
May 9, 2021
$1,500,000
Atc280hq LLC
Yesok LLC
Deed
$1,275,000 · Provident State Bank INC
Nov 18, 2020
—
Yesok LLC
—
Deed
related
$950,000 · Sandy Spring Bk
Mar 30, 2017
$15,650,000
Village Greens Sc LLC
Basin Investments LLC
Trust Deed
$11,737,500 · Burke & Herbert Bk&tr
Nov 14, 2016
—
Ballast Partners LLC
—
Deed
related
$763,000 · Business Fin Grp
May 9, 2016
$1,915,636
Ballast Partners Tlc
Atc At Parole Business Trust
Deed
$930,000 · Sandy Spring Bank
Oct 26, 2012
$429,800
Mark W Howes
Atc Of Parole Business Trust
Grant Deed
$190,340 · Severn Savings Bank Fsb
Jan 4, 2011
$1,187,670
1906 Tcb LLC
Annapolis Towne Centre Of Parole
Grant Deed
$600,000 · Commerce First Bank
Jul 1, 2010
$1,151,500
Yesok LLC
Annapolis Towne Centre Of Parole
Grant Deed
$650,000 · Commerce First Bank
—
—
Mark W Howes
—
Deed Of Trust
related
$159,000 · Business Finance Group INC
—
—
Yesok LLC
—
Deed Of Trust
related
$950,000 · Sandy Spring Bk
—
—
Yesok LLC
—
Deed Of Trust
related
$709,220 · Commerce First 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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