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Property profile & analytics
OFF-MARKET
Estimated value
$8,735,000
Hotels
2 Read St, Baltimore, MD 21202-2412
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-1131089
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1920
Construction
BRICK
Total area
48,024 SF
Lot
0.29 ac (12,730 SF)
Zoning code
C-2
APN
11-12-0512 -019
UPID
US40-1131089
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
-
Maryland Community Foundations Association Association / Organization
-
Baltimore Neighborhood Collaborative Moving Company
-
US Neighborhood Reinvestment Federal Courthouse
-
Association of Baltimore Area Grantmakers Charitable Organization Social Service Agency
-
Ash—Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.51M
Blend (final)
Blend
$8.74M
Owner & transaction history
Hmcharmcity LLC · 5 yrs held
Hmcharmcity LLC
since 2020
Last sale
$11,360
6 recorded transactions
Zoning & alternative use
C-2 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.1M
+49.7%
Restaurant
$10.9M
+47.5%
Neighborhood: shopping center
$8.8M
+18.8%
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 Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore 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
HOTEL/MOTEL
$7,405,000
Current use
AUTO REPAIR, GARAGE
$11,080,000
Change: +50% · Conversion: Difficult
RESTAURANT
$10,920,000
Change: +48% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,795,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,920,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,305,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$6,980,000
Change: -6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,210,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$8.74M
Range $7.86M – $9.61M · ±10% · vs last sale $11k (Oct 1 2020)
Last sale anchor
$11k
Oct 1 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
$182 / 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
$375,628
Tax year 2023
Assessed value
$15,916,433
Assessed 2023
Previous assessed
$15,037,000
+5.8% YoY
Effective rate
2.36%
On assessed value
Land market value
$636,500
Improvement market value
$17,038,800
Total market value
$17,675,300
Applied tax rate
11.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1920
Construction
BRICK
Heating
HEAT PUMP
Cooling
YES
Stories
9
Units
1
Total area
48,024 SF
Lot
0.29 ac (12,730 SF)
Zoning code
C-2
APN
11-12-0512 -019
UPID
US40-1131089
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-2 · Baltimore, MD
Zoning C-2 · permitted uses
C-2 · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$11.1M
RESTAURANT
Est. value
$10.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.8M
COMMERCIAL (GENERAL)
Est. value
$7.9M
WAREHOUSE, STORAGE
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.2M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1920
Construction
BRICK
Heating
HEAT PUMP
Cooling
Yes
Stories
9
Units
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Hmcharmcity LLC
Entity
Mailing address
153 LAFAYETTE ST FL 5TH, NEW YORK, NY 10013-3139
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2021
—
Hmcharmcity LLC
—
Deed
related
$16,000,000 · Mainstreet Bk
Oct 1, 2020
$11,360
Hmcharmcity LLC
Denise A Sanders
Grant Deed
—
Jun 12, 2017
$2,992,500
Hmcharmcity LLC
Wbcmt 2006-c27 North Charles S
Grant Deed
$2,992,500 · Hmcharmcity Investors LLC
Mar 8, 2017
$3,200,000
Wbcmt 2006-c27 North Charles S
Bushnnaq Darek S|latrobe Building LLC
Trustees Deed
—
Mar 15, 2006
—
Latrobe Building LLC
Duncan,james W JR
Grant Deed
related
—
—
—
Hmcharmcity LLC
—
Deed Of Trust
related
$16,000,000 · Mainstreet Bk
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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