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Property profile & analytics
OFF-MARKET
Estimated value
$17,300,000
Outlet malls
2701 Prt Covington Dr, Baltimore, MD 21230-5004
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US40-0606781
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
143,040 SF
Lot
12.4 ac (540,144 SF)
Zoning code
3
APN
24-06-1053 -010A
UPID
US40-0606781
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
-
AT&T Digital Life Home Security High School
-
Da-Vi Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.37M
Blend (final)
Blend
$17.30M
Owner & transaction history
UA PORT COVINGTON HOLDINGS LLC
UA PORT COVINGTON HOLDINGS LLC
Zoning & alternative use
3 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$26.2M
+31.5%
Commercial (general)
$25.3M
+26.9%
Medical building
$20.8M
+4.3%
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 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
RETAIL STORES
$19,925,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$26,195,000
Change: +31% · Conversion: Moderate
COMMERCIAL (GENERAL)
$25,275,000
Change: +27% · Conversion: Easy
MEDICAL BUILDING
$20,785,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$18,635,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$17.30M
Range $15.57M – $19.03M · ±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
$121 / 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
$447,022
Tax year 2023
Assessed value
$18,941,600
Assessed 2023
Previous assessed
$18,651,467
+1.6% YoY
Effective rate
2.36%
On assessed value
Assessed land
$6,200,000
Assessed improvement
$12,741,600
Land market value
$6,200,000
Improvement market value
$12,741,600
Total market value
$18,941,600
Applied tax rate
24.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Units
1
Total area
143,040 SF
Lot
12.4 ac (540,144 SF)
Zoning code
3
APN
24-06-1053 -010A
UPID
US40-0606781
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
3 · Baltimore, MD
Zoning 3 · permitted uses
3 · 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
RETAIL STORES Current
Est. value
$19.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.2M
COMMERCIAL (GENERAL)
Est. value
$25.3M
MEDICAL BUILDING
Est. value
$20.8M
WAREHOUSE, STORAGE
Est. value
$18.6M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Units
1
Lot
12.4 ac
Current owner
From public records · entity-resolved
UA PORT COVINGTON HOLDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1000 E KEY HWY, BALTIMORE, MD 21230-5122
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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