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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Office buildings
700 Melvin Ave Annapolis, MD 21401-1514
Entity Owned
6-yr Hold
Free & Clear
Property ID
US40-1102430
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Construction
BRICK
Total area
9,023 SF
Lot
0.34 ac (15,000 SF)
Zoning code
P
APN
06-000-04396005
UPID
US40-1102430
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
-
Timothy Mewmaw Counselor Practitioner Service Location
-
Camp-Alerte Nicole L MD Physician
-
Dr. Mark P. Hamill, MD Physician
-
Dr. David H. Corddry, MD Physician
-
Ashlee Sapenza Counselor Practitioner Service Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.95M
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.50M
Owner & transaction history
Crosby Partners LLC · 6 yrs held
Crosby Partners LLC
since 2020
Last sale
$1.4M
2 recorded transactions
Zoning & alternative use
P · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Professional Office district is designed to accommodate office and institutional uses of a nature that will be compatible with the character of adjoining residential or business properties, it is not designed for retail or service activities generating customer traffic or delivery of goods
Zone name
Professional Office
General category
CIVIC_INSTITUTIONAL
Zone area
76.18 ac
Source
Realmo
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 Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis 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
$1,775,000
ML approach
$1,950,000
CAP Approach
CAP Return
Estimation
6%
$1,125,000
6.5%
$1,040,000
7%
$965,000
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.43M (Feb 27 2020)
Last sale anchor
$1.43M
Feb 27 2020
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
$166 / 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
$15,483
Tax year 2023
Assessed value
$1,078,200
Assessed 2023
Previous assessed
$1,061,433
+1.6% YoY
Effective rate
1.44%
On assessed value
Assessed land
$733,700
Assessed improvement
$344,500
Land market value
$733,700
Improvement market value
$344,500
Total market value
$1,078,200
Applied tax rate
1.0000
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
1972
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
9,023 SF
Lot
0.34 ac (15,000 SF)
Zoning code
P
APN
06-000-04396005
UPID
US40-1102430
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
P · Annapolis, MDZoning P · permitted uses
P · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Professional Office district is designed to accommodate office and institutional uses of a nature that will be compatible with the character of adjoining residential or business properties, it is not designed for retail or service activities generating customer traffic or delivery of goods
Zone name
Professional Office
General category
CIVIC_INSTITUTIONAL
Zone area
76.18 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1972
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Crosby Partners LLC
Entity
Free & Clear · 6 yrs held
Mailing address
705 MELVIN AVE STE #200, ANNAPOLIS, MD 21401-1540
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2020
$1,425,000
Crosby Partners LLC
Melridge LLC
Grant Deed
—
Mar 9, 2016
—
Melridge LLC
Melridge Partnership LLP
Quit Claim 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.
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