New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,850,000
Office buildings
485 Ritchie Hwy, Severna Park, MD 21146-2918
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US40-0051911
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
11,830 SF
Lot
2.55 ac (111,078 SF)
Zoning code
C3
APN
03-000-90215100
UPID
US40-0051911
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
-
Imagine Business Development Business Service Center
-
Fellner Legal Services (FLS) Law Firm
-
Deanna Furman at Fulton Mortgage Company Loan Service Bank
-
Dr. Jennifer Thorpe Medical Clinic Physician
-
Lynch Physical Therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.81M
Blend (final)
Blend
$4.85M
Owner & transaction history
Severna Park Market Center LLC · 21 yrs held
Severna Park Market Center LLC
since 2004
6 recorded transactions
Zoning & alternative use
C3 · Severna Park, 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 Severna Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Severna Park 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
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,925,000
Current use
RESTAURANT
$5,745,000
Change: -3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,030,000
Change: -15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,955,000
Change: -16% · Conversion: Difficult
RETAIL STORES
$4,900,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$4.85M
Range $4.37M – $5.34M · ±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
$410 / 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
$89,071
Tax year 2023
Assessed value
$8,156,700
Assessed 2023
Previous assessed
$8,189,400
-0.4% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,510,000
Assessed improvement
$5,646,700
Land market value
$2,510,000
Improvement market value
$5,646,700
Total market value
$8,156,700
Applied tax rate
3.0000
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
2007
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
3
Stories
2
Units
3
Total area
11,830 SF
Lot
2.55 ac (111,078 SF)
Zoning code
C3
APN
03-000-90215100
UPID
US40-0051911
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C3 · Severna Park, MD
Zoning C3 · permitted uses
C3 · Severna Park, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Severna Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.9M
RESTAURANT
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$5.0M
INDUSTRIAL (GENERAL)
Est. value
$5.0M
RETAIL STORES
Est. value
$4.9M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
Year built
2007
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
3
Units
3
Lot
2.55 ac
Current owner
From public records · entity-resolved
Severna Park Market Center LLC
Entity
Mailing address
60 WW STSUITE-20, ANNAPOLIS, MD 21401-2434
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2024
—
Severna Park Market Center LLC
—
Deed
related
$7,340,000 · First National Bank Of Pennsylvania
Oct 21, 2016
—
Severna Park Market Center LLC
—
Deed
related
$7,340,000 · First National Bank Of Pennsylvania
Sep 9, 2004
$1,500,000
Severna Park Market Center LLC
Barranco,catherine M
Grant Deed
$1,125,000 · Severn Savings Bank Fsb
—
—
Severna Park Market Center LLC
—
Deed Of Trust
related
$7,550,000 · Virginia Heritage Bank
—
—
Severna Park Market Center LLC
—
Deed Of Trust
related
$1,186,500 · Severn Savings Bank Fsb
—
—
Severna Park Market Center LLC
—
Deed Of Trust
related
$7,169,671 · Severn Savings Bank Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 485 Ritchie Hwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
