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Property profile & analytics
FOR LEASE
Life science properties
6611 Tributary St, Baltimore, MD 21224
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US40-1142775
For Lease
1 / 6
$8,520,000
6611 Tributary St, Baltimore, MD 21224
View Listing →
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1989
Construction
BRICK
Total area
71,417 SF
Lot
7.48 ac (325,829 SF)
Zoning code
I-2
APN
26-01-6921 -008
UPID
US40-1142775
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
-
Eisai Inc Factory Production Facility
-
Guilford Pharmaceuticals Inc. Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.52M
Owner & transaction history
Lrf3 Tributary LLC · 2 yrs held
Lrf3 Tributary LLC
since 2023
Last sale
$8.3M
3 recorded transactions
Zoning & alternative use
I-2 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.6M
+144.4%
Office building
$9.4M
+138.0%
Restaurant
$9.1M
+131.0%
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
$8,965,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,600,000
Change: +144% · Conversion: Difficult
OFFICE BUILDING
$9,350,000
Change: +138% · Conversion: Difficult
RESTAURANT
$9,075,000
Change: +131% · Conversion: Difficult
RETAIL STORES
$7,010,000
Change: +78% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,485,000
Change: +65% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,550,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,180,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$8.52M
Range $7.67M – $9.37M · ±10% · vs last sale $8.30M (Jul 28 2023)
Last sale anchor
$8.30M
Jul 28 2023
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
$119 / 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
$263,831
Tax year 2023
Assessed value
$11,179,267
Assessed 2023
Previous assessed
$11,000,000
+1.6% YoY
Effective rate
2.36%
On assessed value
Land market value
$2,994,800
Improvement market value
$8,543,000
Total market value
$11,537,800
Applied tax rate
26.0000
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
For Lease
Year built
1989
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
71,417 SF
Lot
7.48 ac (325,829 SF)
Zoning code
I-2
APN
26-01-6921 -008
UPID
US40-1142775
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
I-2 · Baltimore, MD
Zoning I-2 · permitted uses
I-2 · 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
COMMERCIAL (GENERAL)
Est. value
$9.6M
OFFICE BUILDING
Est. value
$9.4M
RESTAURANT
Est. value
$9.1M
RETAIL STORES
Est. value
$7.0M
INDUSTRIAL (GENERAL)
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$5.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.2M
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
RETAIL STORES
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1989
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
7.48 ac
Current owner
From public records · entity-resolved
Lrf3 Tributary LLC
Entity
Mailing address
116 HUNTINGTON AVE STE #1001, BOSTON, MA 02116-5768
Ownership since
2023
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
Jul 28, 2023
$8,300,000
Lrf3 Tributary LLC
Ventas Tributary LLC
Special Warranty Deed
—
Sep 19, 2016
$10,245,800
California & Ventas Tributary
Bmr-6611 Tributary Street LLC
Grant Deed
—
Dec 17, 2004
—
Bmr-6611 Tributary Street LLC
Crown Royal
Grant Deed
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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