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Property profile & analytics
OFF-MARKET
Estimated value
$13,615,000
Outlet malls
3750 Commerce Dr, Baltimore, MD 21227-1638
Entity Owned
23-yr Hold
Free & Clear
Property ID
US40-2376991
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Construction
BRICK
Total area
110,500 SF
Lot
12.28 ac (534,917 SF)
Zoning code
BL
APN
13-2300011957
UPID
US40-2376991
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
-
Pro Desk at The Home Depot Big Box & Wholesale Store Building Supply
-
Garden Center at The Home Depot Garden Center
-
KeyExpress Locksmiths Locksmith (Bike/Boat/Book/etc) Store
-
Home Services at The Home Depot General Contractor
-
Compact Power Equipment Rental (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.02M
Blend (final)
Blend
$13.62M
Owner & transaction history
Home Depot USA INC · 23 yrs held
Home Depot USA INC
since 2003
1 recorded transaction
Zoning & alternative use
BL · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$20.2M
+31.5%
Commercial (general)
$17.5M
+13.9%
Warehouse, storage
$16.8M
+9.2%
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 Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore 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
RETAIL STORES
$15,390,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$20,235,000
Change: +31% · Conversion: Moderate
COMMERCIAL (GENERAL)
$17,525,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$16,810,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$16,055,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$13.62M
Range $12.25M – $14.98M · ±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
$123 / 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
$186,917
Tax year 2023
Assessed value
$9,293,367
Assessed 2023
Previous assessed
$8,389,500
+10.8% YoY
Effective rate
2.01%
On assessed value
Land market value
$3,764,200
Improvement market value
$7,336,900
Total market value
$11,101,100
Applied tax rate
13.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
110,500 SF
Lot
12.28 ac (534,917 SF)
Zoning code
BL
APN
13-2300011957
UPID
US40-2376991
Jurisdiction
BALTIMORE
Zoning & alternative use
BL · Baltimore, MD
Zoning BL · permitted uses
BL · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$15.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$20.2M
COMMERCIAL (GENERAL)
Est. value
$17.5M
WAREHOUSE, STORAGE
Est. value
$16.8M
MEDICAL BUILDING
Est. value
$16.1M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
12.28 ac
Current owner
From public records · entity-resolved
Home Depot USA INC
Entity
Free & Clear · 23 yrs held
Mailing address
PO BOX 105842, ATLANTA, GA 30348-5842
Ownership since
2003
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
Jun 27, 2003
$5,469,410
Home Depot USA INC
Merritt-031 LLC
Grant Deed
—
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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