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Property profile & analytics
OFF-MARKET
Estimated value
$5,975,000
Distribution centers
4801 Newgate Ave, Baltimore, MD 21224
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US40-1208323
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1966
Construction
BRICK
Total area
48,140 SF
Lot
18.48 ac (805,163 SF)
Zoning code
MI
APN
26-01-6917A-006
UPID
US40-1208323
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.09M
Comparable Approach
Comparable
$5.37M
Blend (final)
Blend
$5.98M
Owner & transaction history
State Of Maryland · 16 yrs held
State Of Maryland
since 2010
1 recorded transaction
Zoning & alternative use
MI · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.6M
+30.6%
Neighborhood: shopping center
$8.8M
+20.4%
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%
$5,510,000
6.5%
$5,085,000
7%
$4,725,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,325,000
Current use
RESTAURANT
$9,560,000
Change: +31% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,815,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$7,015,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$6,995,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,225,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$5.98M
Range $5.38M – $6.57M · ±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
$124 / 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
Assessed value
$5,353,900
Assessed 2023
Previous assessed
$5,363,200
-0.2% YoY
Assessed land
$3,696,800
Assessed improvement
$1,657,100
Land market value
$3,696,800
Improvement market value
$1,657,100
Total market value
$5,353,900
Applied tax rate
26.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1966
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
48,140 SF
Lot
18.48 ac (805,163 SF)
Zoning code
MI
APN
26-01-6917A-006
UPID
US40-1208323
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
MI · Baltimore, MD
Zoning MI · permitted uses
MI · 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
WAREHOUSE, STORAGE Current
Est. value
$7.3M
RESTAURANT
Est. value
$9.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.8M
COMMERCIAL (GENERAL)
Est. value
$7.0M
MEDICAL BUILDING
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.2M
WAREHOUSE, STORAGE Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1966
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
18.48 ac
Current owner
From public records · entity-resolved
State Of Maryland
Individual
Mailing address
2200 BROENING HWY, BALTIMORE, MD 21224-6623
Ownership since
2010
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
Jan 12, 2010
—
State Of Maryland
Maryland Transportation Author
Quit Claim Deed
related
$248,675,000 · Maryland Economic Dev Corp
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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