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Property profile & analytics
OFF-MARKET
Estimated value
$4,925,000
Office buildings
2328 Joppa Rd, Lutherville Timonium, MD 21093-4612
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US40-1307368
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
BRICK
Total area
33,170 SF
Lot
1.76 ac (76,666 SF)
Zoning code
O3
APN
08-0802001301
UPID
US40-1307368
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
-
Dr. Sukumar Balachandran, DMD Dental Office
-
Moreno Michael DDS Dental Office
-
Dr. Charles Mann, DMD Dental Office
-
Jeffrey Gardyn D.D.S. Dental Office
-
Endodontics Inc Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.82M
Comparable Approach
Comparable
$5.56M
Blend (final)
Blend
$4.93M
Owner & transaction history
Green Lllp Joppa II · 13 yrs held
Green Lllp Joppa II
since 2012
3 recorded transactions
Zoning & alternative use
O3 · Lutherville Timonium, 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 Lutherville Timonium submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lutherville Timonium 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%
$4,135,000
6.5%
$3,815,000
7%
$3,545,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,870,000
Current use
MEDICAL BUILDING
$7,540,000
Change: -4% · Conversion: Easy
RETAIL STORES
$7,070,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$4.93M
Range $4.43M – $5.42M · ±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
$148 / 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
$42,011
Tax year 2023
Assessed value
$6,603,500
Assessed 2023
Previous assessed
$6,713,000
-1.6% YoY
Effective rate
0.64%
On assessed value
Assessed land
$881,500
Assessed improvement
$5,722,000
Land market value
$881,500
Improvement market value
$5,722,000
Total market value
$6,603,500
Applied tax rate
8.0000
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
1985
Construction
BRICK
Heating
YES
Cooling
YES
Stories
3
Units
1
Total area
33,170 SF
Lot
1.76 ac (76,666 SF)
Zoning code
O3
APN
08-0802001301
UPID
US40-1307368
Jurisdiction
BALTIMORE
Zoning & alternative use
O3 · Lutherville Timonium, MD
Zoning O3 · permitted uses
O3 · Lutherville Timonium, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lutherville Timonium. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.5M
RETAIL STORES
Est. value
$7.1M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1985
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
3
Units
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Green Lllp Joppa II
Entity
Mailing address
2328 W JOPPA RD STE #200, LUTHERVILLE TIMONIUM, MD 21093-4674
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2025
—
Joppa Green II Limited Partnership
—
Deed
related
$500,000 · Orrstown Bank
Jul 27, 2021
—
Joppa Green II Imited Partnershiup
—
Deed
related
$3,200,000 · Orrstown Bank
Dec 4, 2012
—
Green Lllp Joppa II
Joppa Green II LP
Quit Claim Deed
related
$2,835,000 · General Electric Capital Corp
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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