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Property profile & analytics
FOR LEASE
Medical Office Space
2801 Foster Ave, Baltimore, MD 21224
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US40-2279082
For Lease
1 / 3
$965,000
2801 Foster Ave, Baltimore, MD 21224
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1965
Construction
BRICK
Total area
7,140 SF
Lot
1 ac (43,500 SF)
Zoning code
R-8
APN
01-12-1859 -001
UPID
US40-2279082
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
-
Amazon Locker - Malakan Postal Service Courier Service
-
MedStar Health: Heart and Vascular at Patterson Park Medical Building Medical Clinic
-
Coinhub Bitcoin ATM Teller Atm
-
higi Physician
-
Quoc an T. Nguyen, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$965k
Owner & transaction history
2801 Foster Ave LLC · 23 yrs held
2801 Foster Ave LLC
since 2003
1 recorded transaction
Zoning & alternative use
R-8 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+36.7%
Neighborhood: shopping center
$1.3M
+26.0%
Warehouse, storage
$1.1M
+4.7%
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
MEDICAL BUILDING
$1,040,000
Current use
RESTAURANT
$1,420,000
Change: +37% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,310,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,085,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,040,000
Change: +0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$925,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$135 / 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
$24,044
Tax year 2023
Assessed value
$1,018,800
Assessed 2023
Previous assessed
$1,003,700
+1.5% YoY
Effective rate
2.36%
On assessed value
Assessed land
$722,500
Assessed improvement
$296,300
Land market value
$722,500
Improvement market value
$296,300
Total market value
$1,018,800
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1965
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
2
Total area
7,140 SF
Lot
1 ac (43,500 SF)
Zoning code
R-8
APN
01-12-1859 -001
UPID
US40-2279082
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
R-8 · Baltimore, MD
Zoning R-8 · permitted uses
R-8 · 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
MEDICAL BUILDING Current
Est. value
$1.0M
RESTAURANT
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$925,000
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1965
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
2
Lot
1 ac
Current owner
From public records · entity-resolved
2801 Foster Ave LLC
Entity
Mailing address
9654 BELAIR RDA, BALTIMORE, MD 21236-1129
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2003
$650,000
2801 Foster Ave LLC
Massing,joan F Tr
Grant Deed
$600,000 · Joan Fink Massing Trustee
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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