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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Office buildings
24 Pennsylvania Ave, Bel Air, MD 21014-3727
Entity Owned
9-yr Hold
Free & Clear
Property ID
US40-0096622
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1814
Construction
BRICK
Total area
4,424 SF
Lot
0.21 ac (9,147 SF)
Zoning code
B2A
APN
03-025373
UPID
US40-0096622
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
-
Michael S. Birch, Attorney at Law Law Firm
-
The Law Office of Douglas R. Dolan, LLC Law Firm
-
Atkinson Law Law Firm
-
Compassionate Mental Health, LLC Physician
-
Evergreen Equity Partners, LLC Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$726k
Blend (final)
Blend
$640k
Owner & transaction history
Lfsjas-23-24 LLC · 9 yrs held
Lfsjas-23-24 LLC
since 2016
5 recorded transactions
Zoning & alternative use
B2A · Bel Air, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+5.8%
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 Bel Air submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bel Air 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
$950,000
Current use
COMMERCIAL (GENERAL)
$1,005,000
Change: +6% · Conversion: Easy
WAREHOUSE, STORAGE
$785,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$145 / 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
$4,940
Tax year 2022
Assessed value
$532,433
Assessed 2023
Previous assessed
$518,200
+2.7% YoY
Effective rate
0.93%
On assessed value
Land market value
$282,600
Improvement market value
$278,300
Total market value
$560,900
Applied tax rate
300.0000
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
1814
Construction
BRICK
Heating
HEAT PUMP
Stories
2
Units
1
Total area
4,424 SF
Lot
0.21 ac (9,147 SF)
Zoning code
B2A
APN
03-025373
UPID
US40-0096622
Jurisdiction
HARFORD
Zoning & alternative use
B2A · Bel Air, MD
Zoning B2A · permitted uses
B2A · Bel Air, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bel Air. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$950,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$785,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1814
Construction
BRICK
Heating
HEAT PUMP
Stories
2
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Lfsjas-23-24 LLC
Entity
Free & Clear · 9 yrs held
Mailing address
24 E PENNSYLVANIA AVE, BEL AIR, MD 21014-3727
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2017
—
Lfsjas-23-24 LLC
—
Deed
related
$225,000 · Pnc Bk
Oct 27, 2016
$512,500
Lfsjas-23-24 LLC
24 Penn Central LLC
Grant Deed
—
Aug 2, 2007
$800,000
Penn Central LLC
Stuart J Robinson
Deed
$760,000 · Baltimore County Savings Bank Fsb
—
—
Stuart J Robinson
—
Deed Of Trust
related
$405,000 · Suntrust Bank NA
—
—
Lfsjas-23-24 LLC
—
Deed Of Trust
related
$225,000 · Pnc Bk
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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