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Property profile & analytics
FOR SALE
Office Spaces
692 Ritchie Hwy, Severna Park, MD 21146
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US40-1492799
For Sale
1 / 25
$389,125
692 Ritchie Hwy, Severna Park, MD 21146
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Total area
991 SF
Zoning code
C2
APN
03-000-90071149
UPID
US40-1492799
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
692 Ritchie LLC · 1 yrs held
692 Ritchie LLC
since 2025
Last sale
$355,000
3 recorded transactions
Zoning & alternative use
C2 · Severna Park, MD
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 Severna Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Severna Park 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,280
Tax year 2023
Assessed value
$300,400
Assessed 2023
Previous assessed
$300,400
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$180,200
Assessed improvement
$120,200
Land market value
$180,200
Improvement market value
$120,200
Total market value
$300,400
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Heating
NONE
Units
1
Total area
991 SF
Zoning code
C2
APN
03-000-90071149
UPID
US40-1492799
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C2 · Severna Park, MD
Zoning C2 · permitted uses
C2 · Severna Park, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Severna Park. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Units
1
Current owner
From public records · entity-resolved
692 Ritchie LLC
Entity
Mailing address
744 WARREN DR, ANNAPOLIS, MD 21403-2817
Ownership since
2025
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
Nov 18, 2025
—
692 Ritchie LLC
—
Deed
related
$333,000 · Harford Bank
May 14, 2025
$355,000
692 Ritchie LLC
Illee LLC
Deed
$300,000 · Douglas Commercial LLC
May 24, 2017
$321,912
Illee LLC
Koch Martin LP
Grant Deed
—
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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