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Property profile & analytics
OFF-MARKET
Investment properties
5 Spruce Ln Annapolis, MD 21401-7018
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US40-0460405
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1940
Total area
936 SF
Lot
0.11 ac (5,009 SF)
Zoning code
C2
APN
02-197-01488900
UPID
US40-0460405
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
The Paesan Group LLC · 6 yrs held
The Paesan Group LLC
since 2019
3 recorded transactions
Zoning & alternative use
C2 · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C2 Conservation Business district is designed to encourage the preservation of the old city by allowing a compatible mixture of business and home crafts and shops, unique to the early development of the city
Zone name
Conservation Business
General category
COMMERCIAL
Zone area
20.46 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,705
Tax year 2023
Assessed value
$247,700
Assessed 2023
Previous assessed
$247,700
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$186,000
Assessed improvement
$61,700
Land market value
$186,000
Improvement market value
$61,700
Total market value
$247,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1940
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Bathrooms
1
Total area
936 SF
Lot
0.11 ac (5,009 SF)
Zoning code
C2
APN
02-197-01488900
UPID
US40-0460405
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C2 · Annapolis, MDZoning C2 · permitted uses
C2 · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C2 Conservation Business district is designed to encourage the preservation of the old city by allowing a compatible mixture of business and home crafts and shops, unique to the early development of the city
Zone name
Conservation Business
General category
COMMERCIAL
Zone area
20.46 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1940
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Bathrooms
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
The Paesan Group LLC
Entity
Mailing address
PO BOX 1466, ANNAPOLIS, MD 21404-1466
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2026
—
The Paesan Group LLC
—
Deed
related
$515,000 · Capital Bank NA
Sep 12, 2019
$200,000
The Paesan Group LLC
Douglas Beall
Deed
$146,250 · Revere Bank
May 15, 2014
—
James D Beall
Beall,douglas M & Sandra K
Quit Claim 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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