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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Manufacturing properties
318 Washington St, Berlin, MD 21811-1502
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US40-0818226
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1910
Construction
BRICK
Total area
16,588 SF
Lot
1.24 ac (54,014 SF)
Zoning code
M-1
APN
03-120260
UPID
US40-0818226
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.65M
Blend (final)
Blend
$2.60M
Owner & transaction history
Two Sons Berlin LLC · 7 yrs held
Two Sons Berlin LLC
since 2018
1 recorded transaction
Zoning & alternative use
M-1 · Berlin, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.1M
+26.5%
Warehouse, storage
$3.9M
+19.6%
Commercial (general)
$3.6M
+11.9%
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 Berlin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berlin 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
INDUSTRIAL (GENERAL)
$3,225,000
Current use
OFFICE BUILDING
$4,080,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,860,000
Change: +20% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,610,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±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
$157 / 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
$11,629
Tax year 2023
Assessed value
$651,667
Assessed 2023
Previous assessed
$625,600
+4.2% YoY
Effective rate
1.78%
On assessed value
Land market value
$217,000
Improvement market value
$486,800
Total market value
$703,800
Applied tax rate
3.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1910
Construction
BRICK
Heating
NONE
Buildings
2
Stories
3
Units
2
Total area
16,588 SF
Lot
1.24 ac (54,014 SF)
Zoning code
M-1
APN
03-120260
UPID
US40-0818226
Jurisdiction
WORCESTER
Zoning & alternative use
M-1 · Berlin, MD
Zoning M-1 · permitted uses
M-1 · Berlin, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berlin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.2M
OFFICE BUILDING
Est. value
$4.1M
WAREHOUSE, STORAGE
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1910
Construction
BRICK
Heating
NONE
Stories
3
Buildings
2
Units
2
Lot
1.24 ac
Current owner
From public records · entity-resolved
Two Sons Berlin LLC
Entity
Mailing address
PO BOX 309, SECRETARY, MD 21664-0309
Ownership since
2018
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
Dec 19, 2018
$195,000
Two Sons Berlin LLC
Ocean City Ice & Seafood INC
Grant Deed
$185,000 · Ocean City Ice & Seafood INC
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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