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Property profile & analytics
OFF-MARKET
Estimated value
$1,765,000
Manufacturing properties
506 Central Ave Baltimore, MD 21202-4315
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US40-0840074
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1950
Construction
BRICK
Total area
16,872 SF
Lot
0.4 ac (17,380 SF)
Zoning code
C-5DE
APN
03-06-1441 -006
UPID
US40-0840074
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
-
Kneads Bakeshop & Café Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.44M
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.77M
Owner & transaction history
506 South Central Avenue LLC · 7 yrs held
506 South Central Avenue LLC
since 2019
1 recorded transaction
Zoning & alternative use
C-5DE · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.8M
+50.7%
Warehouse, storage
$2.6M
+39.0%
Medical building
$2.5M
+32.8%
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 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%
$1,555,000
6.5%
$1,435,000
7%
$1,330,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,845,000
Current use
COMMERCIAL (GENERAL)
$2,780,000
Change: +51% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,565,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$2,450,000
Change: +33% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,180,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$1.77M
Range $1.59M – $1.94M · ±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
$105 / 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
$126,985
Tax year 2023
Assessed value
$5,380,700
Assessed 2023
Previous assessed
$2,154,167
+149.8% YoY
Effective rate
2.36%
On assessed value
Assessed land
$521,400
Assessed improvement
$4,859,300
Land market value
$521,400
Improvement market value
$4,859,300
Total market value
$5,380,700
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1950
Construction
BRICK
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
2
Units
2
Total area
16,872 SF
Lot
0.4 ac (17,380 SF)
Zoning code
C-5DE
APN
03-06-1441 -006
UPID
US40-0840074
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-5DE · Baltimore, MD
Zoning C-5DE · permitted uses
C-5DE · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1950
Construction
BRICK
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
506 South Central Avenue LLC
Entity
Mailing address
650 S EXETER ST STE #200, BALTIMORE, MD 21202-4672
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2019
$2,386,399
506 South Central Avenue LLC
Gapgallant LLC
Special Warranty Deed
$2,925,000 · Howard Bank
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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