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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Office buildings
37 Main St, Westminster, MD 21157-5006
Entity Owned
22-yr Hold
Free & Clear
Property ID
US40-0973282
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1865
Construction
BRICK
Total area
11,340 SF
Lot
0.2 ac (8,682 SF)
Zoning code
CENTR
APN
07-060521
UPID
US40-0973282
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
-
Lyte Tax Service Accounting Firm Tax Preparation
-
OX Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.65M
Owner & transaction history
Locust Lane Center LLC · 22 yrs held
Locust Lane Center LLC
since 2004
7 recorded transactions
Zoning & alternative use
CENTR · Westminster, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.4M
+42.2%
Auto repair, garage
$2.0M
+19.0%
Industrial (general)
$1.8M
+10.7%
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 Westminster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westminster 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%
$1,415,000
6.5%
$1,305,000
7%
$1,210,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,655,000
Current use
RETAIL STORES
$2,355,000
Change: +42% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,970,000
Change: +19% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,835,000
Change: +11% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,325,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±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
$146 / 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
$34,626
Tax year 2023
Assessed value
$2,048,900
Assessed 2023
Previous assessed
$1,937,033
+5.8% YoY
Effective rate
1.69%
On assessed value
Assessed land
$109,600
Assessed improvement
$1,939,300
Land market value
$109,600
Improvement market value
$1,939,300
Total market value
$2,048,900
Applied tax rate
71.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1865
Construction
BRICK
Heating
HEAT PUMP
Stories
3
Units
2
Total area
11,340 SF
Lot
0.2 ac (8,682 SF)
Zoning code
CENTR
APN
07-060521
UPID
US40-0973282
Jurisdiction
CARROLL
Zoning & alternative use
CENTR · Westminster, MD
Zoning CENTR · permitted uses
CENTR · Westminster, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Westminster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.3M
OFFICE BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1865
Construction
BRICK
Heating
HEAT PUMP
Stories
3
Units
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
Locust Lane Center LLC
Entity
Free & Clear · 22 yrs held
Mailing address
PO BOX 345, WESTMINSTER, MD 21158-0345
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2024
—
Locust Lane Centre LLC
—
Deed
related
$125,000 · Acnb Bank
Dec 12, 2023
—
Locust Lane Centre LLC
—
Deed
related
$179,000 · Acnb Bank
Jan 15, 2020
—
Locust Lane Centre LLC
—
Deed
related
$90,000 · Nwsb Bk
Aug 14, 2019
—
Locust Lane Centre LLC
—
Deed
related
$100,000 · Nwsb Bk
Mar 10, 2004
—
Locust Lane Center LLC
Covington Propertes Lllc
Grant Deed
related
—
—
—
Locust Lane Center LLC
—
Deed Of Trust
related
$327,500 · New Windsor State Bank
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$1,800,000 · New Windsor State Bank
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$100,000 · New Windsor State Bank
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$60,000 · New Windsor State Bank
—
—
Covington Properties Ltd
—
Deed Of Trust
related
$750,000 · Windsor State Bank
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$150,000 · New Windsor State Bank
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
—
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$100,000 · Nwsb Bk
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$90,000 · Nwsb Bk
—
—
Locust Lane Centre LLC
—
Deed Of Trust
related
$360,000 · New Windsor St 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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