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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31 Main St Westminster, MD 21157-4887

    • Investment properties
    • 8,580 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2021
    $985,000
    Value Estimations
    $970,000
    Show details
    Cap Rate Potential
    9.3%
    Investment properties
    Location Intelligence
    Property ID
    US40-0496946
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Autonomous Robotics Innovation Center (ARIC) / Trade School
    • Kipp's Auto / Auto Repair Shop
    • Westminster New & Used Furniture / Furniture Store

    Property Details for 31 Main St

    Year built
    1929
    Construction
    BRICK
    Lot size
    0.25 lot acres
    Property size
    8,580 SF
    Zone code
    CENTR
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    07-060270
    APU
    7060270

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $950,000
      ML approach
      $995,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,032,000
      Market price range: $630k - $1.14M
      AI Estimate
      $1,229,000
      Market price range: $670k - $1.67M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $875,000
      Current use
      AUTO REPAIR, GARAGE
      $1,490,000
      Change: +70% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,385,000
      Change: +58% Conversion: Moderate
      OFFICE BUILDING
      $1,255,000
      Change: +43% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,005,000
      Change: +15% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Westminster
    County
    Carroll
    State
    Maryland
    Longitude
    -76.9969
    Latitude
    39.5756
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,143
    $127,100
    $828,100
    $955,200
    -
    $127,100
    $828,100
    $955,200

    Comparable in this City

    • Value Estimation
      $240,000
      1,482 SF

      121 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,482 SF
      121 Main St, Westminster, MD 21157-4409
      View Details
    • Value Estimation
      $230,000
      1,400 SF

      283 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,400 SF
      283 Main St, Westminster, MD 21157-5536
      View Details
    • Value Estimation
      $260,000
      2,880 SF

      183 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,880 SF
      183 Main St, Westminster, MD 21157-5371
      View Details
    • Value Estimation
      $140,000
      2,306 SF

      78 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,306 SF
      78 Main St, Westminster, MD 21157-4982
      View Details
    • Value Estimation
      $460,000
      4,720 SF

      54 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,720 SF
      54 Main St, Westminster, MD 21157-5094
      View Details
    • Value Estimation
      $235,000
      1,380 SF

      236 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,380 SF
      236 Main St, Westminster, MD 21157-5358
      View Details

    Similar Nearby for Sale

    • $750,000

      Mixed-Use Property with Rental Income

      Mixed-use property featuring commercial space and five residential units.
      172 E Main St, Westminster, MD 21157
      View Details
    • $350,000
      5,480 SF

      Westminster Mixed-Use Investment Property

      High-yield storage units, prime location.
      137 Westminster Ave, Westminster, MD 21157
      View Details
    • $254,900
      3,720 SF

      Westminster Mixed-Use Property

      Historic District gem, multiple uses.
      21 Green St, Westminster, MD 21157
      View Details
    • $999,000
      26.20 Acres

      Land in Prime Carroll County

      Two lots totaling 33.72 acres in Westminster, Maryland.
      Bear Branch Rd, Westminster, MD 21157
      View Details
    • $599,000

      Carroll County Raw Land Parcel

      Expansive 18+ acre raw land parcel in Carroll County.
      NW Of Smallwood, Westminster, MD 21157
      View Details
    • $1,200,000

      Land Available For Sale

      Land available for sale at $14.
      970 Oak Tree Rd, Westminster, MD 21157
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      3,467 SF

      Carroll Plaza Office Suites Available

      Prime Carroll County Office Space, Flexible Sizes
      250 Englar Rd, Westminster, MD 21157
      View Details
    • Contact for pricing
      2,096 SF

      Westminster Flex/Warehouse Space Available

      Flex, office, and warehouse spaces for lease in Westminster.
      125 Airport Dr, Westminster, MD 21157
      View Details
    • Contact for pricing
      111,493 SF

      Westminster Flex Space Available

      Flex, office, and warehouse spaces available for lease.
      and Business Pky Airport Dr, Westminster, MD 21157
      View Details
    • Contact for pricing
      4,622 SF

      Westminster Flex/Industrial Space Available

      Flex, industrial, warehouse, and office spaces for lease.
      1135 Business Pkwy S, Westminster, MD 21157
      View Details
    • $300 /Mo
      4,000 SF

      Westminster Office Space For Rent

      Office space available for lease in Westminster, Maryland.
      205 E Main St, Westminster, MD 21157
      View Details
    • $20 SF/Yr
      37,580 SF

      Winchester Exchange: Westminster Office Space

      Downtown Westminster Office Suite - 1,050 SF Available
      15 Main St, Westminster, MD 21157
      View Details
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    31 Main St
    Westminster, MD 21157-4887
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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