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Property profile & analytics
OFF-MARKET
Estimated value
$2,125,000
Office Spaces
3201 Rogers Ave Ste 301, Ellicott City, MD 21043-4589
Entity Owned
1-yr Hold
Free & Clear
Property ID
US40-1104576
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2002
Total area
5,338 SF
Lot
1.98 ac (86,249 SF)
Zoning code
B2
APN
02-402947
UPID
US40-1104576
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
$1.97M
Blend (final)
Blend
$2.13M
Owner & transaction history
Rogers 40 II LLC · 1 yrs held
Rogers 40 II LLC
since 2025
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
B2 · Ellicott City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+52.2%
Retail stores
$1.6M
+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
$2,140,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,295,000
Current use
AUTO REPAIR, GARAGE
$1,965,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$1,595,000
Change: +23% · Conversion: Moderate
Blend value · Realmo final
$2.13M
Range $1.91M – $2.34M · ±10% · vs last sale $2.20M (Jan 31 2025)
Last sale anchor
$2.20M
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
$398 / 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
$11,420
Tax year 2022
Assessed value
$1,174,333
Assessed 2023
Previous assessed
$1,014,167
+15.8% YoY
Effective rate
0.97%
On assessed value
Land market value
$533,800
Improvement market value
$800,700
Total market value
$1,334,500
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
5,338 SF
Lot
1.98 ac (86,249 SF)
Zoning code
B2
APN
02-402947
UPID
US40-1104576
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
$1.3M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.6M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
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 #302, ELLICOTT CITY, MD 21043-4589
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
8 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
$125,000
Rogers 40 II LLC
Bonita Moxley Reaver
Deed
related
—
Jan 31, 2025
$25,000
Rogers 40 II LLC
Jeb D Butler
Deed
related
—
Feb 16, 2022
—
Rogers 40 II LLC
—
Deed
related
$340,000 · Sandy Spring Bank
Feb 24, 2017
—
Rogers 40 II LLC
—
Deed
related
$871,010 · Columbia Bk
—
—
Rogers 40 II LLC
—
Loan Modification
related
$971,961 · Columbia Bank
—
—
Rogers 40 II LLC
—
Loan Modification
related
$871,010 · Columbia Bk
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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