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Property profile & analytics
FOR LEASE
Industrial properties
521 Progress Dr Linthicum Heights, MD 21090
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-0937504
For Lease
1 / 2
$12,585,000
521 Progress Dr, Linthicum Heights, MD 21090
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
2006
Total area
40,906 SF
Lot
10.29 ac (448,232 SF)
Zoning code
W1
APN
05-000-90216133
UPID
US40-0937504
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
-
Rexel Building Supply Electrical Service
-
Gexpro Building Supply Electrical Service
-
SGI-USA Chesapeake Bay Region Church Mosque
-
APC POSTAL LOGISTICS Logistics Company Freight Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.14M
Blend (final)
Blend
$12.59M
Owner & transaction history
Bwi Technology Park III LLC · 21 yrs held
Bwi Technology Park III LLC
since 2005
2 recorded transactions
Zoning & alternative use
W1 · Linthicum, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$20.5M
+19.5%
Restaurant
$19.9M
+16.0%
Auto repair, garage
$17.4M
+1.5%
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 Linthicum Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Linthicum Heights 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
INDUSTRIAL (GENERAL)
$17,140,000
Current use
OFFICE BUILDING
$20,485,000
Change: +20% · Conversion: Difficult
RESTAURANT
$19,875,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,400,000
Change: +2% · Conversion: Easy
RETAIL STORES
$16,950,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$14,980,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$12.59M
Range $11.33M – $13.84M · ±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
$308 / 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
$125,902
Tax year 2023
Assessed value
$11,529,500
Assessed 2023
Previous assessed
$11,529,500
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,029,400
Assessed improvement
$9,500,100
Land market value
$2,029,400
Improvement market value
$9,500,100
Total market value
$11,529,500
Applied tax rate
5.0000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
For Lease
Year built
2006
Heating
NONE
Buildings
2
Stories
1
Units
2
Total area
40,906 SF
Lot
10.29 ac (448,232 SF)
Zoning code
W1
APN
05-000-90216133
UPID
US40-0937504
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1 · Linthicum, MD
Zoning W1 · permitted uses
W1 · Linthicum, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Linthicum. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$17.1M
OFFICE BUILDING
Est. value
$20.5M
RESTAURANT
Est. value
$19.9M
AUTO REPAIR, GARAGE
Est. value
$17.4M
RETAIL STORES
Est. value
$17.0M
MEDICAL BUILDING
Est. value
$15.0M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
2006
Heating
NONE
Stories
1
Buildings
2
Units
2
Lot
10.29 ac
Current owner
From public records · entity-resolved
Bwi Technology Park III LLC
Entity
Mailing address
2560 LORD BALTIMORE DR, BALTIMORE, MD 21244-2677
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2005
—
Bwi Technology Park III LLC
—
Deed Of Trust
related
$5,920,000 · Provident Bank Maryland
—
—
Bwi Technology Park III LLC
—
Deed Of Trust
related
$9,500,000 · Jefferson-pilot Life Insurance
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?”
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