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Property profile & analytics
OFF-MARKET
Estimated value
$18,360,000
Office buildings
200 Baltimore St, Baltimore, MD 21201-2549
Entity Owned
Free & Clear
Property ID
US40-1072967
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1911
Construction
BRICK
Total area
187,500 SF
Lot
0.45 ac (19,734 SF)
Zoning code
C-5DC
APN
04-10-0633 -012
UPID
US40-1072967
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 Learning Links High School
-
IAC High School
-
Nancy S. Grasmick State Education Building Government Office
-
Maryland Department Of Education - Food Distribution Center Food Bank Charitable Organization
-
Maryland Association of Student Councils Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.80M
Blend (final)
Blend
$18.36M
Owner & transaction history
STATE MARYLAND DEPT GENERAL SERVICES
STATE MARYLAND DEPT GENERAL SERVICES
Zoning & alternative use
C-5DC · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$28.5M
+57.2%
Medical building
$27.2M
+50.2%
Apartment house (5+ units)
$24.2M
+33.6%
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 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
OFFICE BUILDING
$18,140,000
Current use
WAREHOUSE, STORAGE
$28,525,000
Change: +57% · Conversion: Difficult
MEDICAL BUILDING
$27,245,000
Change: +50% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$24,235,000
Change: +34% · Conversion: Easy
COMMERCIAL (GENERAL)
$22,615,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$18.36M
Range $16.52M – $20.20M · ±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
$98 / 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
Assessed value
$15,422,600
Assessed 2023
Previous assessed
$15,422,600
+0.0% YoY
Assessed land
$1,973,400
Assessed improvement
$13,449,200
Land market value
$1,973,400
Improvement market value
$13,449,200
Total market value
$15,422,600
Applied tax rate
4.0000
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
1911
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
14
Units
1
Total area
187,500 SF
Lot
0.45 ac (19,734 SF)
Zoning code
C-5DC
APN
04-10-0633 -012
UPID
US40-1072967
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-5DC · Baltimore, MD
Zoning C-5DC · permitted uses
C-5DC · 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
OFFICE BUILDING Current
Est. value
$18.1M
WAREHOUSE, STORAGE
Est. value
$28.5M
MEDICAL BUILDING
Est. value
$27.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.2M
COMMERCIAL (GENERAL)
Est. value
$22.6M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1911
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
14
Units
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
STATE MARYLAND DEPT GENERAL SERVICES
Individual
Free & Clear · 0 yrs held
Mailing matches property
Yes
Owner-occupied
Yes
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
No recorded transactions
No recorded transactions found for this property.
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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