New search
Property profile & analytics
OFF-MARKET
Estimated value
$22,880,000
Apartment buildings
2111 Piney Br Cir, Hanover, MD 21076-1821
Individually Owned
Absentee Owner
Property ID
US40-0637683
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2007
Total area
126,600 SF
Lot
13.26 ac (577,606 SF)
Zoning code
MXDE
APN
04-000-90222157
UPID
US40-0637683
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$27.00M
Blend (final)
Blend
$22.88M
Owner & transaction history
Arundel Preserve Apartments Ll
Arundel Preserve Apartments Ll
1 recorded transaction
Zoning & alternative use
MXDE · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$29.2M
+78.5%
Restaurant
$28.8M
+75.9%
Office building
$26.0M
+58.9%
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 Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover 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
APARTMENT HOUSE (5+ UNITS)
$16,365,000
Current use
AUTO REPAIR, GARAGE
$29,210,000
Change: +79% · Conversion: Difficult
RESTAURANT
$28,790,000
Change: +76% · Conversion: Difficult
OFFICE BUILDING
$26,000,000
Change: +59% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$23,185,000
Change: +42% · Conversion: Difficult
WAREHOUSE, STORAGE
$19,260,000
Change: +18% · Conversion: Difficult
MEDICAL BUILDING
$18,395,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$22.88M
Range $20.59M – $25.17M · ±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
$181 / 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
$1,201,493
Tax year 2023
Assessed value
$110,026,833
Assessed 2023
Previous assessed
$110,026,833
+0.0% YoY
Effective rate
1.09%
On assessed value
Land market value
$24,800,000
Improvement market value
$101,655,300
Total market value
$126,455,300
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2007
Heating
HEAT PUMP
Buildings
9
Stories
5
Units
501
Total area
126,600 SF
Lot
13.26 ac (577,606 SF)
Zoning code
MXDE
APN
04-000-90222157
UPID
US40-0637683
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
MXDE · Hanover, MD
Zoning MXDE · permitted uses
MXDE · Hanover, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hanover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$16.4M
AUTO REPAIR, GARAGE
Est. value
$29.2M
RESTAURANT
Est. value
$28.8M
OFFICE BUILDING
Est. value
$26.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$23.2M
WAREHOUSE, STORAGE
Est. value
$19.3M
MEDICAL BUILDING
Est. value
$18.4M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
2007
Heating
HEAT PUMP
Stories
5
Buildings
9
Units
501
Lot
13.26 ac
Current owner
From public records · entity-resolved
Arundel Preserve Apartments Ll
Individual
Mailing address
6406 IVY LN STE #700, GREENBELT, MD 20770-1435
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Arundel Preserve Apartments Ll
—
Deed Of Trust
related
$82,500,000 · Walker & Dunlop
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2111 Piney Br Cir?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
