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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Warehouses
522 Underwood Ln, Bel Air, MD 21014-1834
Entity Owned
24-yr Hold
Free & Clear
Property ID
US40-0329636
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
BRICK
Total area
6,500 SF
Lot
2.35 ac (102,366 SF)
Zoning code
B3
APN
03-028712
UPID
US40-0329636
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
-
Thermal Loop Corporation HVAC Service General Contractor
-
Michael Barlow Well Drilling Service, Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$955k
Owner & transaction history
La Ja Lynd LLC · 24 yrs held
La Ja Lynd LLC
since 2001
7 recorded transactions
Zoning & alternative use
B3 · Bel Air, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+27.9%
Office building
$1.4M
+20.9%
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 Bel Air submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bel Air 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
WAREHOUSE, STORAGE
$1,155,000
Current use
COMMERCIAL (GENERAL)
$1,475,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$1,395,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$147 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$7,799
Tax year 2022
Assessed value
$730,600
Assessed 2023
Previous assessed
$715,600
+2.1% YoY
Effective rate
1.07%
On assessed value
Land market value
$456,000
Improvement market value
$304,600
Total market value
$760,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1968
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
6,500 SF
Lot
2.35 ac (102,366 SF)
Zoning code
B3
APN
03-028712
UPID
US40-0329636
Jurisdiction
HARFORD
Zoning & alternative use
B3 · Bel Air, MD
Zoning B3 · permitted uses
B3 · Bel Air, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bel Air. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE 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
1968
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.35 ac
Current owner
From public records · entity-resolved
La Ja Lynd LLC
Entity
Free & Clear · 24 yrs held
Mailing address
912 FAWN CT, JOPPA, MD 21085-1320
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2019
—
La Ja Lynd LLC
—
Deed
related
$1,010,000 · M & T Bank
Sep 8, 2016
—
La Ja Lynd LLC
—
Deed
related
$517,152 · Private Individual
Sep 19, 2001
—
La Ja Lynd LLC
Barlow,michael B & Joann L
Grant Deed
related
—
Mar 5, 2001
$88,196
Michael B Barlow
B & M Line Construction Co INC
Grant Deed
related
$374,833 · B & M Line Construction Co INC
—
—
B & M Line Construction Co INC
—
Deed Of Trust
related
$374,833 · Michael B & Joann L Barlow
—
—
La Ja Lynd LLC
—
Deed Of Trust
related
$625,000 · Chesapeake Bk/md
—
—
B & M Line Construction Co INC
—
Deed Of Trust
related
$374,833 · Michael B & Joann L Barlow
—
—
Laja Lynd LLC
—
Deed Of Trust
related
$200,000 · Carrollton Bank
—
—
La Ja Lynd LLC
—
Deed Of Trust
related
$517,152 · Private Individual
—
—
Laja Lynd LLC
—
Deed Of Trust
related
$200,000 · Carrollton 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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