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Property profile & analytics
OFF-MARKET
Estimated value
$3,635,000
Medical Office Space
201 Plumtree Rd Bel Air, MD 21015-6053
Entity Owned
20-yr Hold
Free & Clear
Property ID
US40-2385733
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2009
Total area
34,338 SF
Lot
2.05 ac (89,298 SF)
Zoning code
RO
APN
01-023748
UPID
US40-2385733
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
-
Brian D. Mulliken, MD Physician
-
Brad Lerner, M.D. - Chesapeake Urology Physician Medical Clinic
-
Chesapeake Urology - Bel Air Medical Clinic Physician
-
Towson Orthopaedic Associates Medical Clinic
-
Mark V. Clough, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$3.64M
Owner & transaction history
Plumtree Orthopaedic Associates · 20 yrs held
Plumtree Orthopaedic Associates
since 2006
6 recorded transactions
Zoning & alternative use
RO · Bel Air, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Applicable regulations for architecture and site design contained in RO Residential Office District, § 165-28B shall apply in the B-1 Limited Business District. Certain uses are subject to performance standards specified in Article VII of this Part 2 . [Amended 4-3-2017 by Ord. No. 780-17 ; 7-17-2023 by Ord. No. 813-23 ] [2]
Zone name
Residential Office
General category
MIXED_USE
Zone area
34.32 ac
Top alternative use upside
Retail stores
$5.1M
+128.3%
Auto repair, garage
$4.5M
+101.9%
Restaurant
$4.1M
+82.4%
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 Bel Air submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bel Air 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
MEDICAL BUILDING
$2,235,000
Current use
RETAIL STORES
$5,100,000
Change: +128% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,510,000
Change: +102% · Conversion: Difficult
RESTAURANT
$4,075,000
Change: +82% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,915,000
Change: +31% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,235,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$3.64M
Range $3.27M – $4.00M · ±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
$106 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$106,421
Tax year 2022
Assessed value
$9,764,300
Assessed 2023
Previous assessed
$9,764,300
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,742,500
Assessed improvement
$8,021,800
Land market value
$1,742,500
Improvement market value
$8,021,800
Total market value
$9,764,300
Applied tax rate
1.0000
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
2009
Heating
YES
Cooling
YES
Stories
3
Units
1
Bathrooms
1
Total area
34,338 SF
Lot
2.05 ac (89,298 SF)
Zoning code
RO
APN
01-023748
UPID
US40-2385733
Jurisdiction
HARFORD
Zoning & alternative use
RO · Bel Air, MDZoning RO · permitted uses
RO · Bel Air, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Applicable regulations for architecture and site design contained in RO Residential Office District, § 165-28B shall apply in the B-1 Limited Business District. Certain uses are subject to performance standards specified in Article VII of this Part 2 . [Amended 4-3-2017 by Ord. No. 780-17 ; 7-17-2023 by Ord. No. 813-23 ] [2]
Zone name
Residential Office
General category
MIXED_USE
Zone area
34.32 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
RETAIL STORES
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.5M
RESTAURANT
Est. value
$4.1M
WAREHOUSE, STORAGE
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
MEDICAL BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
RESTAURANT
WAREHOUSE, STORAGE
INDUSTRIAL (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
2009
Heating
YES
Cooling
Yes
Stories
3
Units
1
Bathrooms
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Plumtree Orthopaedic Associates
Entity
Free & Clear · 20 yrs held
Mailing address
8322 BELLONA AVE, BALTIMORE, MD 21204-2065
Ownership since
2006
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
Jul 27, 2020
—
Plumtree Orthopaedic Associates LLC
—
Deed
related
$7,300,000 · Atlantic Union Bank
Apr 12, 2006
$1,720,000
Plumtree Orthopaedic Associates
Park Centre Of Plumtree LLC
Grant Deed
—
Oct 24, 2003
—
Park Centre/plumtree LLC
Turner,clark P & Deborah M
Grant Deed
related
—
Sep 30, 1999
$324,000
Clak P Turner
Mays,samuel F
Grant Deed
—
May 4, 1998
$105,000
Samuel F Mays
Lagnese,john M & Anne M
Grant Deed
$94,500 · First Republic Mortgage
—
—
Plumtree Orthopaedic Associate
—
Loan Modification
related
$6,493,572 · Manufacturers & Traders Tr
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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