New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,480,000
Office buildings
2117 Maryland Ave, Baltimore, MD 21218-5614
Individually Owned
14-yr Hold
Free & Clear
Property ID
US40-1390343
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
BRICK
Total area
11,946 SF
Lot
0.19 ac (8,175 SF)
Zoning code
C-1
APN
12-07-3610 -024
UPID
US40-1390343
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
-
Man Alive Counselor
-
Barnes Nickol D Counselor
-
Dorsey Gilda A Counselor
-
Dorsey Doris A Counselor
-
Meehling James O Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.48M
Owner & transaction history
Margaret M Forrester · 14 yrs held
Margaret M Forrester
since 2011
7 recorded transactions
Zoning & alternative use
C-1 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.2M
+63.3%
Warehouse, storage
$1.8M
+35.6%
Medical building
$1.7M
+29.6%
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
$1,340,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,190,000
Change: +63% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,815,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$1,735,000
Change: +30% · Conversion: Easy
RETAIL STORES
$1,665,000
Change: +24% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,545,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±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
$124 / 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
$895,433
Assessed 2023
Previous assessed
$627,500
+42.7% YoY
Land market value
$163,500
Improvement market value
$1,267,800
Total market value
$1,431,300
Applied tax rate
12.0000
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
1900
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
4
Units
1
Total area
11,946 SF
Lot
0.19 ac (8,175 SF)
Zoning code
C-1
APN
12-07-3610 -024
UPID
US40-1390343
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-1 · Baltimore, MD
Zoning C-1 · permitted uses
C-1 · 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
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
MEDICAL BUILDING
RETAIL STORES
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
1900
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Margaret M Forrester
Individual
Free & Clear · 14 yrs held
Mailing address
2117 MARYLAND AVE #404, BALTIMORE, MD 21218-5614
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2011
—
Margaret M Forrester
Noeth William R
Grant Deed
—
Jan 28, 2003
—
Man Alive Research INC
—
Trustees Deed
related
$684,000 · Waypoint Bank
—
—
Marva C Graham
—
Deed Of Trust
related
$94,100 · Us Bank
—
—
Man Alive INC
—
Deed Of Trust
related
$434,336 · M & T Bank
—
—
Man Alive INC
—
Deed Of Trust
related
$125,000 · M & T Bank
—
—
Men Alive Research INC
—
Deed Of Trust
related
$200,000 · Provident Savings Bank
—
—
Man Alive INC
—
Deed Of Trust
related
$50,000 · Provident Bank INC
—
—
Man Alive INC
—
Deed Of Trust
related
$19,800 · Allen N Walpert & Son INC
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 2117 Maryland Ave?
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.
