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Property profile & analytics
OFF-MARKET
Estimated value
$3,660,000
Office buildings
627 Race St, Cambridge, MD 21613-2333
Entity Owned
1-yr Hold
Free & Clear
Property ID
US40-0737120
Property summary
AI-generated overview
This exceptional Class A executive office building in Cambridge, MD, offers 41,436 square feet of meticulously maintained professional space. Situated on a 1.47-acre lot, the three-story brick building boasts 108 asphalt-paved parking spaces. The interior features a variety of spaces including reception areas, conference rooms, co-working areas, and private offices, all adaptable to various needs. Each floor encompasses approximately 13,812 square feet and is conveniently accessible via elevator. Recent upgrades include interior lighting, HVAC systems, elevators, and exterior landscaping. The property also benefits from its location within a Qualified Opportunity Zone. This competitively priced building is available for sale at $7,495,000 and also for lease at $14.00 per square foot per year (NNN). Built in 1998, this property presents a unique opportunity for businesses seeking a premium office environment in a desirable location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
STEEL FRAME
Total area
41,436 SF
Lot
1.47 ac (64,033 SF)
APN
07-192916
UPID
US40-0737120
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
-
Dorchester County Career Center Business Service Center Employment Agency
-
Job Service Employment Agency
-
MD Department of Labor State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.68M
Blend (final)
Blend
$3.66M
Owner & transaction history
Dorchester County · 1 yrs held
Dorchester County
since 2024
Last sale
$3.7M
4 recorded transactions
Zoning & alternative use
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
$4,035,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.66M
Range $3.29M – $4.03M · ±10% · vs last sale $3.65M (Dec 19 2022)
Last sale anchor
$3.65M
Dec 19 2022
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
$88 / 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
$61,740
Tax year 2023
Assessed value
$3,340,367
Assessed 2023
Previous assessed
$3,275,500
+2.0% YoY
Effective rate
1.85%
On assessed value
Land market value
$192,000
Improvement market value
$3,278,100
Total market value
$3,470,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Units
1
Total area
41,436 SF
Lot
1.47 ac (64,033 SF)
APN
07-192916
UPID
US40-0737120
Jurisdiction
DORCHESTER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1998
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
3
Units
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
Dorchester County
Entity
Free & Clear · 1 yrs held
Mailing address
10176 BALTIMORE NATIONAL PIKE STE #217, ELLICOTT CITY, MD 21042-3652
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2024
$6,100,000
Dorchester County
Leeward Holdings LLC
Deed
related
—
Dec 19, 2022
$3,650,000
Leeward Holdings LLC
Donald R Arsenault
Deed
$2,890,000 · Donald Arsenault
Feb 15, 2000
$4,300,000
Donald R Arsenault
Macard INC
Grant Deed
—
—
—
Donald R Arsenaulg
—
Deed Of Trust
related
$2,400,000 · Virginia Heritage 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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