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Property profile & analytics
OFF-MARKET
Estimated value
$9,065,000
Manufacturing properties
2225 Pulaski Hwy Havre De Grace, MD 21078-2145
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1381453
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1940
Construction
BRICK
Total area
111,803 SF
Lot
8.84 ac (385,070 SF)
Zoning code
CI
APN
06-004075
UPID
US40-1381453
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
-
Harford Systems Inc Production Facility Metal Fabrication Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.27M
CAP Approach
CAP
$10.46M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.07M
Owner & transaction history
Fip Master Funding II LLC · 4 yrs held
Fip Master Funding II LLC
since 2021
Last sale
$7.8M
4 recorded transactions
Zoning & alternative use
CI · Havre De Grace, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.7M
+101.8%
Office building
$13.7M
+88.0%
Restaurant
$13.3M
+82.3%
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 Havre De Grace submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Havre De Grace 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
$10,035,000
ML approach
$9,265,000
CAP Approach
CAP Return
Estimation
6%
$11,330,000
6.5%
$10,455,000
7%
$9,710,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,275,000
Current use
AUTO REPAIR, GARAGE
$14,680,000
Change: +102% · Conversion: Easy
OFFICE BUILDING
$13,675,000
Change: +88% · Conversion: Difficult
RESTAURANT
$13,265,000
Change: +82% · Conversion: Difficult
WAREHOUSE, STORAGE
$9,490,000
Change: +30% · Conversion: Easy
MEDICAL BUILDING
$7,275,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$9.07M
Range $8.16M – $9.97M · ±10% · vs last sale $7.79M (Nov 15 2021)
Last sale anchor
$7.79M
Nov 15 2021
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
$81 / 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
$44,223
Tax year 2022
Assessed value
$4,081,500
Assessed 2024
Previous assessed
$4,081,500
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,856,400
Assessed improvement
$2,225,100
Land market value
$1,856,400
Improvement market value
$2,225,100
Total market value
$4,081,500
Applied tax rate
6.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1940
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
111,803 SF
Lot
8.84 ac (385,070 SF)
Zoning code
CI
APN
06-004075
UPID
US40-1381453
Jurisdiction
HARFORD
Zoning & alternative use
CI · Havre De Grace, MD
Zoning CI · permitted uses
CI · Havre De Grace, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Havre De Grace. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$14.7M
OFFICE BUILDING
Est. value
$13.7M
RESTAURANT
Est. value
$13.3M
WAREHOUSE, STORAGE
Est. value
$9.5M
MEDICAL BUILDING
Est. value
$7.3M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RESTAURANT
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
1940
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
8.84 ac
Current owner
From public records · entity-resolved
Fip Master Funding II LLC
Entity
Mailing address
2425 E CAMELBACK RD STE #700, PHOENIX, AZ 85016-4220
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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 15, 2021
$7,785,714
Fip Master Funding II LLC
Harford Systems LLC
Special Warranty Deed
$7,785,714 · Citibank NA
Nov 15, 2021
—
Fip Master Funding II LLC
—
Deed
related
$7,785,714 · Citibank NA
Jan 22, 2021
—
Harford Systems LLC
—
Deed
related
$72,000 · First Midwest Bank
Mar 27, 2002
—
Harford Systems INC
Dbb LLC
Quit Claim Deed
related
—
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
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