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Property profile & analytics
OFF-MARKET
Estimated value
$5,945,000
Office Spaces
2 Park Ctr Ct Ste 1, Owings Mills, MD 21117-4265
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US40-0321462
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Total area
8,603 SF
Lot
0.2 ac (8,603 SF)
Zoning code
2
APN
03-2500000286
UPID
US40-0321462
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
$5.95M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.95M
Owner & transaction history
Park Center Properties LLC · 1 yrs held
Park Center Properties LLC
since 2024
Last sale
$5.9M
4 recorded transactions
Zoning & alternative use
2 · Owings Mills, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.9M
+89.8%
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 Owings Mills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Owings Mills 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
$5,945,000
ML approach
$5,945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,875,000
Change: +90% · Conversion: Difficult
Blend value · Realmo final
$5.95M
Range $5.35M – $6.54M · ±10% · vs last sale $5.94M (Aug 21 2024)
Last sale anchor
$5.94M
Aug 21 2024
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
$691 / 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
$9,499
Tax year 2023
Assessed value
$1,144,100
Assessed 2023
Previous assessed
$1,376,400
-16.9% YoY
Effective rate
0.83%
On assessed value
Assessed land
$400,400
Assessed improvement
$743,700
Land market value
$400,400
Improvement market value
$743,700
Total market value
$1,144,100
Applied tax rate
3.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Heating
NONE
Units
1
Total area
8,603 SF
Lot
0.2 ac (8,603 SF)
Zoning code
2
APN
03-2500000286
UPID
US40-0321462
Jurisdiction
BALTIMORE
Zoning & alternative use
2 · Owings Mills, MD
Zoning 2 · permitted uses
2 · Owings Mills, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Owings Mills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.9M
AUTO REPAIR, GARAGE
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
Heating
NONE
Units
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Park Center Properties LLC
Entity
Mailing address
25 S CHARLES ST STE #102, BALTIMORE, MD 21201-3330
Ownership since
2024
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
Aug 21, 2024
$5,942,500
Park Center Properties LLC
2 Park Center LLC
Special Warranty Deed
$3,246,500 · Eagle Bank
Jan 5, 2023
—
Sdk 2 Park Center LLC
Sheila D Kettlewell
Deed
$3,926,000 · Arundel Federal Savings Bank
May 19, 2022
$900,000
2 Park Center LLC
Chesapeake Park Center LLC
Special Warranty Deed
—
Jan 19, 2007
$1,568,294
Chesapeake Park Center LLC
2 Park Center Court LLC
Deed Of Trust
$1,255,200 · Bank Of America
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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