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Property profile & analytics
FOR SALE
Investment properties
225 W Read St Baltimore, MD 21201
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US40-2215966
For Sale
1 / 25
$640,000
225 W Read St, Baltimore, MD 21201
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
BRICK
Total area
3,600 SF
Lot
0.03 ac (1,200 SF)
Zoning code
C-1
APN
11-09-0509 -083
UPID
US40-2215966
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
-
Bluestone Goldsmithing (Bike/Boat/Book/etc) Store Metal Fabrication Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$588k
Blend (final)
Blend
$545k
Owner & transaction history
Read Street West LLC · 9 yrs held
Read Street West LLC
since 2017
5 recorded transactions
Zoning & alternative use
C-1 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$830,000
+91.3%
Neighborhood: shopping center
$660,000
+51.8%
Warehouse, storage
$550,000
+26.1%
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
COMMERCIAL (GENERAL)
$435,000
Current use
AUTO REPAIR, GARAGE
$830,000
Change: +91% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$660,000
Change: +52% · Conversion: Difficult
WAREHOUSE, STORAGE
$550,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$525,000
Change: +20% · Conversion: Easy
OFFICE BUILDING
$350,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$151 / 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
$9,320
Tax year 2023
Assessed value
$394,900
Assessed 2023
Previous assessed
$479,500
-17.6% YoY
Effective rate
2.36%
On assessed value
Assessed land
$72,000
Assessed improvement
$322,900
Land market value
$72,000
Improvement market value
$322,900
Total market value
$394,900
Applied tax rate
11.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1900
Construction
BRICK
Heating
HOT WATER
Stories
3
Units
1
Total area
3,600 SF
Lot
0.03 ac (1,200 SF)
Zoning code
C-1
APN
11-09-0509 -083
UPID
US40-2215966
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
COMMERCIAL (GENERAL) Current
Est. value
$435,000
AUTO REPAIR, GARAGE
Est. value
$830,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$660,000
WAREHOUSE, STORAGE
Est. value
$550,000
MEDICAL BUILDING
Est. value
$525,000
OFFICE BUILDING
Est. value
$350,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
MEDICAL BUILDING
OFFICE 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
1900
Construction
BRICK
Heating
HOT WATER
Stories
3
Units
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
Read Street West LLC
Entity
Mailing address
225 W READ ST, BALTIMORE, MD 21201-4808
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2017
$495,000
Read Street West LLC
Lamont,joseph A
Grant Deed
$360,000 · Joseph A Lamont
Jul 14, 2005
$250,000
Joseph A Lamont
Ramax Realty Co INC
Grant Deed
$160,000 · First Tennessee Bank National
Dec 13, 2002
$129,500
Ramax Realty Co
Glazer,eugene I
Grant Deed
$150,000 · Carrollton Bank
—
—
Joseph A Lamont
—
Deed Of Trust
related
$76,598 · First Horizon Bank
—
—
Joseph A Lamont
—
Deed Of Trust
related
$80,000 · Wells Fargo Bank
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?”
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