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Property profile & analytics
OFF-MARKET
Estimated value
$3,040,000
Distribution centers
1919 Greenspring Dr Lutherville, MD 21093-4113
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US40-1015773
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1964
Construction
BRICK
Total area
18,836 SF
Lot
1.79 ac (77,972 SF)
Zoning code
ML
APN
08-1700011520
UPID
US40-1015773
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
$1.91M
Comparable Approach
Comparable
$2.28M
Blend (final)
Blend
$3.04M
Owner & transaction history
1919 Greenspring LLC · 6 yrs held
1919 Greenspring LLC
since 2020
Last sale
$3.4M
4 recorded transactions
Zoning & alternative use
ML · Lutherville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lutherville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lutherville 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
$4,215,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,070,000
6.5%
$1,910,000
7%
$1,770,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,870,000
Current use
OFFICE BUILDING
$4,470,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$4,280,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$4,015,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$3.04M
Range $2.74M – $3.34M · ±10% · vs last sale $3.40M (Feb 25 2020)
Last sale anchor
$3.40M
Feb 25 2020
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
$161 / 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
$18,124
Tax year 2023
Assessed value
$2,855,700
Assessed 2023
Previous assessed
$2,592,600
+10.1% YoY
Effective rate
0.63%
On assessed value
Land market value
$682,800
Improvement market value
$2,699,100
Total market value
$3,381,900
Applied tax rate
8.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1964
Construction
BRICK
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Units
2
Total area
18,836 SF
Lot
1.79 ac (77,972 SF)
Zoning code
ML
APN
08-1700011520
UPID
US40-1015773
Jurisdiction
BALTIMORE
Zoning & alternative use
ML · Lutherville, MD
Zoning ML · permitted uses
ML · Lutherville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lutherville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.9M
OFFICE BUILDING
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$4.3M
RETAIL STORES
Est. value
$4.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1964
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
1.79 ac
Current owner
From public records · entity-resolved
1919 Greenspring LLC
Entity
Mailing address
5621 OLD FREDERICK RD, CATONSVILLE, MD 21228-1554
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2022
—
1919 Greenspring LLC
—
Deed
related
$2,500,000 · Sandy Spring Bank
Feb 25, 2020
$3,400,000
1919 Greenspring LLC
Anne Davidson Kern
Deed
$2,040,000 · Howard Bank
Jan 24, 2020
—
Anne D Kern
Greenspring Ltd
Grant Deed
—
Oct 30, 1997
—
Greenspring Ltd
Roeder,virginia
Grant Deed
related
—
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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