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Property profile & analytics
OFF-MARKET
Estimated value
$32,225,000
Medical Office Space
2002 Medical Pkwy Annapolis, MD 21401-3046
Individually Owned
27-yr Hold
Free & Clear
Property ID
US40-0974365
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Construction
BRICK
Total area
154,891 SF
Lot
11.56 ac (503,554 SF)
Zoning code
C2
APN
02-000-90089722
UPID
US40-0974365
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
-
Reid Raleigh, PA Physician
-
AAMG Annapolis Primary Care Medical Clinic
-
Chesapeake Eye Care and Laser Center Ophthalmologist
-
Anne arundel medical group Medical Group
-
Kure Smart Pain Management Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$32.23M
Owner & transaction history
William P Beatson · 27 yrs held
William P Beatson
since 1998
4 recorded transactions
Zoning & alternative use
C2 · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C2 Conservation Business district is designed to encourage the preservation of the old city by allowing a compatible mixture of business and home crafts and shops, unique to the early development of the city
Zone name
Conservation Business
General category
COMMERCIAL
Zone area
20.46 ac
Source
Realmo
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 Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis 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
COMMERCIAL (GENERAL)
$53,670,000
Change: -5% · Conversion: Easy
WAREHOUSE, STORAGE
$51,650,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$32.23M
Range $29.00M – $35.45M · ±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
$208 / 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
$434,230
Tax year 2023
Assessed value
$39,764,633
Assessed 2023
Previous assessed
$39,761,300
+0.0% YoY
Effective rate
1.09%
On assessed value
Land market value
$10,100,300
Improvement market value
$29,671,000
Total market value
$39,771,300
Applied tax rate
2.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2001
Construction
BRICK
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
2
Stories
6
Units
2
Total area
154,891 SF
Lot
11.56 ac (503,554 SF)
Zoning code
C2
APN
02-000-90089722
UPID
US40-0974365
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C2 · Annapolis, MDZoning C2 · permitted uses
C2 · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C2 Conservation Business district is designed to encourage the preservation of the old city by allowing a compatible mixture of business and home crafts and shops, unique to the early development of the city
Zone name
Conservation Business
General category
COMMERCIAL
Zone area
20.46 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$53.7M
WAREHOUSE, STORAGE
Est. value
$51.7M
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2001
Construction
BRICK
Heating
HOT WATER
Cooling
Yes
Stories
6
Buildings
2
Units
2
Lot
11.56 ac
Current owner
From public records · entity-resolved
William P Beatson
Individual
Free & Clear · 27 yrs held
Mailing address
2001 MEDICAL PKWY, ANNAPOLIS, MD 21401-3773
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1998
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
Nov 2, 1998
$50,000
William P Beatson
Anne Arundel Medical Ctr INC
Grant Deed
—
—
—
Anne Arundel Medical Center
—
Deed Of Trust
related
$24,967,896 · Maryland Health & Higher Educa
—
—
Pavilion Park INC
—
Deed Of Trust
related
$15,247,793 · Maryland Health & Higher Educa
—
—
Medical Office LLC
—
Deed Of Trust
related
$85,000,000 · Branch Banking & Trust Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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