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Property profile & analytics
OFF-MARKET
Estimated value
$1,225,000
Office buildings
418 3rd St, Annapolis, MD 21403-2512
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US40-2108774
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Construction
BRICK
Total area
3,072 SF
Lot
0.19 ac (8,420 SF)
Zoning code
R2
APN
06-000-00942300
UPID
US40-2108774
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
-
Cleared2Work Employment Agency
-
Syndicus Inc Employment Agency
-
NACON Consulting LLC Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.23M
Owner & transaction history
Elizabeth Mary Friedmann · 2 yrs held
Elizabeth Mary Friedmann
since 2023
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
R2 · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+10.8%
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 Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis 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
$1,140,000
ML approach
$1,305,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,530,000
Current use
COMMERCIAL (GENERAL)
$1,700,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,305,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$1,275,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.23M
Range $1.10M – $1.35M · ±10% · vs last sale $1.26M (Sep 12 2023)
Last sale anchor
$1.26M
Sep 12 2023
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
$399 / 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
$10,535
Tax year 2023
Assessed value
$733,600
Assessed 2023
Previous assessed
$725,933
+1.1% YoY
Effective rate
1.44%
On assessed value
Assessed land
$579,500
Assessed improvement
$154,100
Land market value
$579,500
Improvement market value
$154,100
Total market value
$733,600
Applied tax rate
1.0000
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
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
3,072 SF
Lot
0.19 ac (8,420 SF)
Zoning code
R2
APN
06-000-00942300
UPID
US40-2108774
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
R2 · Annapolis, MD
Zoning R2 · permitted uses
R2 · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Annapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Elizabeth Mary Friedmann
Individual
Mailing address
418 3RD ST, ANNAPOLIS, MD 21403-2512
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2026
—
Elizabeth Mary Friedmann
—
Deed
related
$170,000 · Tower FCU
Sep 12, 2023
$1,255,000
Elizabeth Mary Friedmann
Four Eighteen Holdings LLC
Deed
$1,595,700 · Shore United Bank NA
May 22, 2008
—
Four-eighteen Holdings LLC
Sciandra,john R & Belinda H
Grant Deed
$935,000 · Bank Of America
Sep 9, 2004
$875,000
John R Sciandra
Hay,michael S & Michelle
Grant Deed
$786,625 · Washington Mutual Fsb
—
—
John R Sciandra
—
Deed Of Trust
related
$150,000 · Sandy Spring Bank
—
—
Four-eighteen Holdings LLC
—
Deed Of Trust
related
$820,000 · M & T Bank
—
—
Town & Country Investments LLC
—
Deed Of Trust
related
$350,000 · Sandy Spring National Bank Md
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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