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Property profile & analytics
FOR LEASE
Office buildings
229 Main St, Westminster, MD 21157-5269
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US40-0777894
For Lease
1 / 24
$1,200/Mo
229 Main St, Westminster, MD 21157-5269
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1870
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,658 SF
Lot
0.12 ac (5,345 SF)
Zoning code
DOWNT
APN
07-065205
UPID
US40-0777894
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
-
Robert M Stahl Law Offices Law Firm Financial Advisor
-
Couples Counselor Counselor
-
Andersen Harold K DDS Dental Office
-
PT Title Company Title Company
-
MAESP MD Association of Elementary School Principals Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$618k
Blend (final)
Blend
$610k
Owner & transaction history
Rrd Properties LLC · 9 yrs held
Rrd Properties LLC
since 2016
4 recorded transactions
Zoning & alternative use
DOWNT · Westminster, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Westminster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westminster 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
WAREHOUSE, STORAGE
$1,015,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$70 / 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
$8,264
Tax year 2023
Assessed value
$489,000
Assessed 2023
Previous assessed
$480,333
+1.8% YoY
Effective rate
1.69%
On assessed value
Assessed land
$74,400
Assessed improvement
$414,600
Land market value
$74,400
Improvement market value
$414,600
Total market value
$489,000
Applied tax rate
71.0000
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
For Lease
Year built
1870
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
8,658 SF
Lot
0.12 ac (5,345 SF)
Zoning code
DOWNT
APN
07-065205
UPID
US40-0777894
Jurisdiction
CARROLL
Zoning & alternative use
DOWNT · Westminster, MD
Zoning DOWNT · permitted uses
DOWNT · Westminster, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Westminster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$1.0M
WAREHOUSE, STORAGE
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
1870
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Rrd Properties LLC
Entity
Mailing address
2320 S KAYS ML RD, FINKSBURG, MD 21048-2171
Ownership since
2016
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
Aug 23, 2016
$415,000
Rrd Properties LLC
George O Sparks
Deed
$374,000 · New Windsor State Bank
Mar 28, 2003
$150,000
George O Sparks
Moses,howard
Grant Deed
$83,000 · Bank Of Hanover & Trust Co
Mar 28, 2003
—
Howard Moses
Mospar Realty
Grant Deed
related
—
—
—
George O Sparks
—
Deed Of Trust
related
$92,000 · Bank Of Hanover
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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