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Property profile & analytics
OFF-MARKET
Estimated value
$6,080,000
Office buildings
400 Hahn Rd, Westminster, MD 21157-4627
Entity Owned
16-yr Hold
Free & Clear
Property ID
US40-1389177
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
48,000 SF
Lot
18.54 ac (807,602 SF)
Zoning code
I-2
APN
07-009518
UPID
US40-1389177
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
-
Penguin Random House LLC Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.53M
Comparable Approach
Comparable
$6.06M
Blend (final)
Blend
$6.08M
Owner & transaction history
County Commissioner Of Carroll · 16 yrs held
County Commissioner Of Carroll
since 2009
1 recorded transaction
Zoning & alternative use
I-2 · Westminster, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.0M
+42.2%
Auto repair, garage
$8.3M
+19.0%
Industrial (general)
$7.8M
+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%
$5,985,000
6.5%
$5,525,000
7%
$5,130,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,010,000
Current use
RETAIL STORES
$9,970,000
Change: +42% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,345,000
Change: +19% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,755,000
Change: +11% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,620,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$6.08M
Range $5.47M – $6.69M · ±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
$127 / 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
$59,730
Tax year 2023
Assessed value
$5,285,800
Assessed 2023
Previous assessed
$5,285,800
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,187,800
Assessed improvement
$4,098,000
Land market value
$1,187,800
Improvement market value
$4,098,000
Total market value
$5,285,800
Applied tax rate
7.0000
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
2
Units
2
Total area
48,000 SF
Lot
18.54 ac (807,602 SF)
Zoning code
I-2
APN
07-009518
UPID
US40-1389177
Jurisdiction
CARROLL
Zoning & alternative use
I-2 · Westminster, MD
Zoning I-2 · permitted uses
I-2 · 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
$7.0M
RETAIL STORES
Est. value
$10.0M
AUTO REPAIR, GARAGE
Est. value
$8.3M
INDUSTRIAL (GENERAL)
Est. value
$7.8M
WAREHOUSE, STORAGE
Est. value
$5.6M
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Buildings
2
Units
2
Lot
18.54 ac
Current owner
From public records · entity-resolved
County Commissioner Of Carroll
Entity
Free & Clear · 16 yrs held
Mailing address
400 BENNETT CERF DR, WESTMINSTER, MD 21157-4685
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Dec 3, 2009
—
County Commissioner Of Carroll
Random House INC
Grant Deed
related
—
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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