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Property profile & analytics
FOR LEASE
Retail properties & Spaces
400 N Center St, Westminster, MD 21157
Entity Owned
5-yr Hold
Free & Clear
Property ID
US40-0892399
For Lease
1 / 3
$6,875,000
400 N Center St, Westminster, MD 21157
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Property summary
AI-generated overview
This thriving pizzeria and Italian restaurant in Westminster, MD, presents a unique turnkey opportunity. Located in the heart of the Westminster Mall, this single-unit, 1-story establishment boasts a prime location with high foot traffic and a loyal customer base. The spacious interior offers ample seating and includes a private bathroom. The asking price is $85,000, and the sale includes all necessary equipment and furniture for immediate operation. The current monthly lease for the mall space is $1,100. This well-established business is zoned for commercial use and represents an affordable investment for entrepreneurs seeking to enter the restaurant industry or expand their existing portfolio. The property is situated at 400 N Center St, Westminster, MD 21157, within Carroll County. This is a rare chance to acquire a profitable, established restaurant in a vibrant community. Serious inquiries only.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
81,212 SF
Lot
52.8 ac (2,299,881 SF)
Zoning code
PLANN
APN
07-090390
UPID
US40-0892399
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
-
Gifts To Go (Bike/Boat/Book/etc) Store
-
Jills (Bike/Boat/Book/etc) Store
-
The Gym - Westminster Gym & Fitness Center
-
Ho'on Dojo Training Center Sports School
-
Movement Disorder Education and Exercise, Inc Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.13M
Blend (final)
Blend
$6.88M
Owner & transaction history
Town Mall Pad Sites LLC · 5 yrs held
Town Mall Pad Sites LLC
since 2021
7 recorded transactions
Zoning & alternative use
PLANN · Westminster, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.88M
Range $6.19M – $7.56M · ±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
$85 / 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
$55,885
Tax year 2023
Assessed value
$3,306,800
Assessed 2023
Previous assessed
$3,306,800
+0.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$1,934,000
Assessed improvement
$1,372,800
Land market value
$1,934,000
Improvement market value
$1,372,800
Total market value
$3,306,800
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
23
Stories
1
Units
23
Total area
81,212 SF
Lot
52.8 ac (2,299,881 SF)
Zoning code
PLANN
APN
07-090390
UPID
US40-0892399
Jurisdiction
CARROLL
Zoning & alternative use
PLANN · Westminster, MD
Zoning PLANN · permitted uses
PLANN · 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.
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
23
Units
23
Lot
52.8 ac
Current owner
From public records · entity-resolved
Town Mall Pad Sites LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1340 SMITH AVE STE #200, BALTIMORE, MD 21209-3796
Ownership since
2021
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
Jan 15, 2021
—
Town Mall Pad Sites LLC
Westminster Mall LLC
Special Warranty Deed
—
Aug 8, 2019
—
Sonic Of Westminster LLC
—
Deed
related
$900,000 · Firstrust Bank
Dec 27, 2017
$10,605,000
Westminster Mall LLC
Cranberry Mall Properities LLC
Grant Deed
$10,605,000 · Adelaide Mill LLC
Apr 7, 2000
$33,500,000
Cranberry Mall Porperties LLC
Shopco Malls LP
Grant Deed
$26,525,000 · Metropolitan Life Insurance
—
—
Sybra INC
—
Deed Of Trust
related
$699,100 · Fleet Business Credit Corp
—
—
Westminster Realty Associates
—
Deed Of Trust
related
$6,029,000 · Fulton Bank
—
—
Cranberry Mall Properties LLC
—
Deed Of Trust
related
$45,000,000 · Artesia Mortgage Capital Corp
—
—
Westminster Realty Assocs LLC
—
Deed Of Trust
related
$46,720,000 · Susquehanna 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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