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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Commercial land
509 Race St, Cambridge, MD 21613-2331
Entity Owned
6-yr Hold
Free & Clear
Property ID
US40-2337329
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1915
Construction
BRICK
Total area
39,900 SF
Lot
0.54 ac (23,556 SF)
Zoning code
C-2
APN
07-119402
UPID
US40-2337329
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
$2.02M
Blend (final)
Blend
$1.87M
Owner & transaction history
Hearn Ownership LLC · 6 yrs held
Hearn Ownership LLC
since 2019
6 recorded transactions
Zoning & alternative use
C-2 · Cambridge, 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 Cambridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cambridge 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
$1.87M
Range $1.68M – $2.05M · ±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
$47 / 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
$1,305
Tax year 2023
Assessed value
$70,600
Assessed 2023
Previous assessed
$70,600
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$70,600
Land market value
$70,600
Total market value
$70,600
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1915
Construction
BRICK
Heating
STEAM
Stories
3
Total area
39,900 SF
Lot
0.54 ac (23,556 SF)
Zoning code
C-2
APN
07-119402
UPID
US40-2337329
Jurisdiction
DORCHESTER
Zoning & alternative use
C-2 · Cambridge, MD
Zoning C-2 · permitted uses
C-2 · Cambridge, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cambridge. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1915
Construction
BRICK
Heating
STEAM
Stories
3
Lot
0.54 ac
Current owner
From public records · entity-resolved
Hearn Ownership LLC
Entity
Free & Clear · 6 yrs held
Mailing address
363 SAULSBURY RD, DOVER, DE 19904-2722
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2019
$1,044,058
Hearn Ownership LLC
Historic Cambridge Dev LLC
Deed In Lieu Of Foreclosure
—
Nov 1, 2017
—
Historic Cambridge Dev LLC
—
Deed
related
$2,950,000 · National Council On Agricultur
Dec 20, 2016
$49,778
Historic Cambridge Dev LLC
Dorchester County Maryland
Grant Deed
—
Sep 15, 2016
$68,594
Dorchester County Of Md
Spears,michael J
Grant Deed
—
May 13, 2004
$550,000
Corporate Services LLC
Foxwell,douglas R & M R
Grant Deed
$440,000 · Branch Banking & Trust Co
—
—
Historic Cambridge Dev LLC
—
Deed Of Trust
related
$2,950,000 · National Council On Agricultur
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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