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Property profile & analytics
OFF-MARKET
Estimated value
$20,285,000
Distribution centers
1940 Greenspring Dr Timonium, MD 21093-4148
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-0997131
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1983
Construction
BRICK
Total area
74,900 SF
Lot
8.15 ac (355,014 SF)
Zoning code
ML-IM
APN
08-1900002183
UPID
US40-0997131
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.29M
Owner & transaction history
Merritt Of Bavar-td1 LLC
Merritt Of Bavar-td1 LLC
1 recorded transaction
Zoning & alternative use
ML-IM · Timonium, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$33.7M
+74.2%
Restaurant
$29.6M
+53.0%
Commercial (general)
$24.9M
+28.6%
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 Timonium submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Timonium 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
WAREHOUSE, STORAGE
$19,360,000
Current use
AUTO REPAIR, GARAGE
$33,730,000
Change: +74% · Conversion: Easy
RESTAURANT
$29,630,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$24,900,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$17,770,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$17,025,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$15,965,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$20.29M
Range $18.26M – $22.31M · ±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
$271 / 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
$182,762
Tax year 2023
Assessed value
$13,303,267
Assessed 2023
Previous assessed
$12,918,800
+3.0% YoY
Effective rate
1.37%
On assessed value
Land market value
$5,075,000
Improvement market value
$8,997,200
Total market value
$14,072,200
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
1983
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
74,900 SF
Lot
8.15 ac (355,014 SF)
Zoning code
ML-IM
APN
08-1900002183
UPID
US40-0997131
Jurisdiction
BALTIMORE
Zoning & alternative use
ML-IM · Timonium, MD
Zoning ML-IM · permitted uses
ML-IM · Timonium, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Timonium. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$19.4M
AUTO REPAIR, GARAGE
Est. value
$33.7M
RESTAURANT
Est. value
$29.6M
COMMERCIAL (GENERAL)
Est. value
$24.9M
OFFICE BUILDING
Est. value
$17.8M
MEDICAL BUILDING
Est. value
$17.0M
RETAIL STORES
Est. value
$16.0M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
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
1983
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
8.15 ac
Current owner
From public records · entity-resolved
Merritt Of Bavar-td1 LLC
Entity
Mailing address
2066 LORD BALTIMORE DR, BALTIMORE, MD 21244-2501
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Merritt Of Bavar-td1 LLC
—
Deed Of Trust
related
$13,200,000 · Life Insurance Of Southwest
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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