New search
Property profile & analytics
FOR LEASE
Office buildings
621 East Pratt St, Baltimore, MD 21202
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1054238
For Lease
1 / 4
$12,645,000
621 East Pratt St, Baltimore, MD 21202
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
BRICK
Total area
135,405 SF
Lot
0.55 ac (24,088 SF)
Zoning code
C-5IH
APN
04-11-0890 -013
UPID
US40-1054238
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
-
Henderson Donald A MD Physician
-
Biyani Photo & Cinema (Bike/Boat/Book/etc) Store Photography Service
-
Spark Flex Coworking & Hybrid Office
-
AKUA (Bike/Boat/Book/etc) Store Corporate Office
-
Alpha Crime Scene Cleanup Social Service Agency Crisis Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.70M
Blend (final)
Blend
$12.65M
Owner & transaction history
Cordish Power Plant LP · 14 yrs held
Cordish Power Plant LP
since 2011
3 recorded transactions
Zoning & alternative use
C-5IH · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$20.6M
+29.6%
Medical building
$19.7M
+23.8%
Apartment house (5+ units)
$17.5M
+10.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$15,890,000
Current use
WAREHOUSE, STORAGE
$20,600,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$19,675,000
Change: +24% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$17,500,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$12.65M
Range $11.38M – $13.91M · ±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
$93 / 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
$198,823
Tax year 2023
Assessed value
$8,424,700
Assessed 2023
Previous assessed
$8,424,700
+0.0% YoY
Effective rate
2.36%
On assessed value
Assessed land
$2,408,800
Assessed improvement
$6,015,900
Land market value
$2,408,800
Improvement market value
$6,015,900
Total market value
$8,424,700
Applied tax rate
4.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2003
Construction
BRICK
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
6
Units
1
Total area
135,405 SF
Lot
0.55 ac (24,088 SF)
Zoning code
C-5IH
APN
04-11-0890 -013
UPID
US40-1054238
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-5IH · Baltimore, MD
Zoning C-5IH · permitted uses
C-5IH · 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
OFFICE BUILDING Current
Est. value
$15.9M
WAREHOUSE, STORAGE
Est. value
$20.6M
MEDICAL BUILDING
Est. value
$19.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$17.5M
OFFICE BUILDING Current
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
2003
Construction
BRICK
Heating
HOT WATER
Cooling
Yes
Stories
6
Units
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Cordish Power Plant LP
Entity
Mailing address
601 E PRATT ST FL #6, BALTIMORE, MD 21202-3118
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Dec 21, 2011
—
Cordish Power Plant LP
—
Deed Of Trust
related
$12,552,377 · Manufacturers Traders & Trust
—
—
Cordish Power Plant LP
—
Deed Of Trust
related
$52,000,000 · M&t Bk
—
—
Cordish Power Plant LP
—
Deed Of Trust
related
$25,232 · Manufacturers Traders & Trust
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
