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Property profile & analytics
OFF-MARKET
Estimated value
$8,160,000
Warehouses
451 Defense Hwy, Annapolis, MD 21401-8909
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0933620
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
BRICK
Total area
43,320 SF
Lot
5.45 ac (237,402 SF)
Zoning code
W1
APN
02-000-90046381
UPID
US40-0933620
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
-
Private Lessons | Ben Private Lessons | United States Gym & Fitness Center
-
Thrive Gym - Defense Hwy Gym & Fitness Center
-
Artworks Studio Theater & Performing Art Venue
-
Thrive Field House Training Center
-
Books for International Goodwill Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.58M
Blend (final)
Blend
$8.16M
Owner & transaction history
Defense Granite LLC · 4 yrs held
Defense Granite LLC
since 2021
Last sale
$8.2M
4 recorded transactions
Zoning & alternative use
W1 · Annapolis, 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 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
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
$8.16M
Range $7.34M – $8.98M · ±10% · vs last sale $8.20M (Nov 16 2021)
Last sale anchor
$8.20M
Nov 16 2021
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
$188 / 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
$45,957
Tax year 2023
Assessed value
$4,208,500
Assessed 2023
Previous assessed
$4,185,000
+0.6% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,086,000
Assessed improvement
$2,122,500
Land market value
$2,086,000
Improvement market value
$2,122,500
Total market value
$4,208,500
Applied tax rate
2.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Total area
43,320 SF
Lot
5.45 ac (237,402 SF)
Zoning code
W1
APN
02-000-90046381
UPID
US40-0933620
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1 · Annapolis, MD
Zoning W1 · permitted uses
W1 · 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.
Building & site characteristics
From public records
Year built
1992
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Lot
5.45 ac
Current owner
From public records · entity-resolved
Defense Granite LLC
Entity
Mailing address
5111 BERWYN RD STE #208, COLLEGE PARK, MD 20740-4132
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2021
$8,200,000
Defense Granite LLC
451 Defense Highway LLC
Special Warranty Deed
$5,740,000 · Fvcbank
Mar 22, 2017
$5,775,000
451 Defence Highway LLC
450 Properties LLC
Grant Deed
—
Jun 12, 1998
—
450 Properties
450 Gp
Quit Claim Deed
related
—
—
—
450 Properties LLC
—
Deed Of Trust
related
$3,000,000 · Nationwide Life Insurance Co
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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