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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office Spaces
3201 Rogers Ave Ste 102, Ellicott City, MD 21043-4249
Entity Owned
1-yr Hold
Free & Clear
Property ID
US40-1096423
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2002
Total area
2,650 SF
Lot
1.98 ac (86,249 SF)
Zoning code
B2
APN
02-402904
UPID
US40-1096423
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
$305k
Comparable Approach
Comparable
$417k
Blend (final)
Blend
$505k
Owner & transaction history
Rogers 40 II LLC · 1 yrs held
Rogers 40 II LLC
since 2025
Last sale
$608,000
5 recorded transactions
Zoning & alternative use
B2 · Ellicott City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$790,000
+23.2%
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 Ellicott City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ellicott City 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
$590,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$330,000
6.5%
$305,000
7%
$285,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$640,000
Current use
RETAIL STORES
$790,000
Change: +23% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $608k (Jan 31 2025)
Last sale anchor
$608k
Jan 31 2025
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
$191 / 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
$6,465
Tax year 2022
Assessed value
$618,333
Assessed 2023
Previous assessed
$574,167
+7.7% YoY
Effective rate
1.05%
On assessed value
Land market value
$265,000
Improvement market value
$397,500
Total market value
$662,500
Applied tax rate
2.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2002
Heating
NONE
Units
1
Total area
2,650 SF
Lot
1.98 ac (86,249 SF)
Zoning code
B2
APN
02-402904
UPID
US40-1096423
Jurisdiction
HOWARD
Zoning & alternative use
B2 · Ellicott City, MD
Zoning B2 · permitted uses
B2 · Ellicott City, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ellicott City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$640,000
RETAIL STORES
Est. value
$790,000
OFFICE BUILDING Current
RETAIL STORES
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
Heating
NONE
Units
1
Lot
1.98 ac
Current owner
From public records · entity-resolved
Rogers 40 II LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3201 ROGERS AVE STE #102, ELLICOTT CITY, MD 21043-4249
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Mar 5, 2025
$125,000
Rogers 40 II LLC
Bonita Moxley Reaver
Deed
related
—
Mar 5, 2025
$25,000
Rogers 40 II LLC
Jeb D Butler
Deed
related
—
Jan 31, 2025
$25,000
Rogers 40 II LLC
Jeb D Butler
Deed
related
—
Jan 31, 2025
$125,000
Rogers 40 II LLC
Bonita Moxley Reaver
Deed
related
—
Jan 23, 2013
$608,000
Nara Investments LLC
Rogers 40 II LLC
Assignment Of Deed
$304,000 · Suntrust Bank
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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