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Property profile & analytics
OFF-MARKET
Estimated value
$1,885,000
Office buildings
1965 Greenspring Dr Lutherville, MD 21093-4137
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-0970735
Property summary
AI-generated overview
This exceptional Class A office building, located at 1965 Greenspring Drive in Timonium, Maryland, 21093, offers 19 fully furnished executive and traditional office suites within a 7,000 square foot building. Recently renovated in 2023, the two-story building provides a modern and efficient workspace. Suite sizes range from 135 to 277 square feet, catering to various business needs and offering flexible lease terms. The building features shared amenities, designed to enhance productivity and collaboration. Conveniently located in the Timonium submarket, this property boasts easy access to major transportation routes. Building amenities include a single elevator for convenient access to both floors. Property taxes are $0 per square foot. Ideal for businesses seeking a professional and well-equipped office environment in a thriving location. The building consists of one structure with a total of 19 suites. This is a multi-tenant property.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Construction
BRICK
Total area
14,240 SF
Lot
0.65 ac (28,270 SF)
Zoning code
ML
APN
08-1700005874
UPID
US40-0970735
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
$1.64M
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.89M
Owner & transaction history
Axios Greenspring LLC · 3 yrs held
Axios Greenspring LLC
since 2023
Last sale
$2.0M
7 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
$2,145,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,775,000
6.5%
$1,640,000
7%
$1,520,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,035,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$1.89M
Range $1.70M – $2.07M · ±10% · vs last sale $2.00M (Jun 2 2023)
Last sale anchor
$2.00M
Jun 2 2023
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
$132 / 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
$12,090
Tax year 2023
Assessed value
$1,955,700
Assessed 2023
Previous assessed
$1,771,000
+10.4% YoY
Effective rate
0.62%
On assessed value
Land market value
$708,200
Improvement market value
$1,616,900
Total market value
$2,325,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1976
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
14,240 SF
Lot
0.65 ac (28,270 SF)
Zoning code
ML
APN
08-1700005874
UPID
US40-0970735
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
RETAIL STORES
Est. value
$3.0M
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
1976
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Axios Greenspring LLC
Entity
Free & Clear · 3 yrs held
Mailing address
57 W TIMONIUM RD STE 105A, LUTHERVILLE TIMONIUM, MD 21093-3104
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2023
$2,000,000
Axios Greenspring LLC
1965 Greenspring Drive LLC
Special Warranty Deed
—
Nov 23, 2016
—
195 Greenspring Drive LLC
—
Deed
related
$2,550,000 · Suntrust Bank
Jun 27, 2008
—
1965 Greenspring Drive LLC
—
Deed Of Trust
related
$1,580,000 · Susquehanna Bank
Jun 27, 2005
—
1965 Greenspring Drive LLC
Green Spring Drive Joint Venture
Quit Claim Deed
—
—
—
1965 Greenspring Drive LLC
—
Deed Of Trust
related
$1,729,794 · Susquehanna Bank
—
—
1965 Greenspring Drive LLC
—
Deed Of Trust
related
$1,900,000 · Private Lender
—
—
1965 Greenspring Drive LLC
—
Deed Of Trust
related
$1,389,654 · Susquehanna Bank
—
—
1965 Greenspring Drive LLC
—
Deed Of Trust
related
$1,424,000 · Chesapeake Business Fin'l Corp
—
—
Greenspring Drive LLC
—
Deed Of Trust
related
$250,000 · Baltimore County (md)
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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