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Property profile & analytics
OFF-MARKET
Estimated value
$1,480,000
Medical Office Space
700 Washington Blvd Baltimore, MD 21230-2350
Entity Owned
11-yr Hold
Free & Clear
Property ID
US40-1352251
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,878 SF
Lot
0.09 ac (4,085 SF)
Zoning code
C-1
APN
21-13-0849 -001
UPID
US40-1352251
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
-
Dr. Harini Balu, MD Physician
-
Midas Rx Pharmacy Pharmacy
-
Santosh K. Dwarakanath, RPH Pharmacy
-
Another Life Saved Organization Association / Organization
-
Dr. Suyi Park, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.48M
Owner & transaction history
Florida Avenue Jv LLC · 11 yrs held
Florida Avenue Jv LLC
since 2015
1 recorded transaction
Zoning & alternative use
C-1 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ermitted and Conditional Uses Table 9-401 Rowhouse and Multi-Family Residential Districts - Bulk and Yard Regulations Table 10-301 Commercial Districts - Permitted and Conditional Uses Table 10-401 Commercial Districts (C-1 to C-4) - Bulk and Yard Regulations Table 10-401 Commercial Districts (C-5) - Bulk and Yard Regulations Table 11-301 Industrial District…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
726.10 ac
Top alternative use upside
Office building
$2.4M
+41.3%
Neighborhood: shopping center
$2.2M
+26.0%
Commercial (general)
$2.1M
+21.6%
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
MEDICAL BUILDING
$1,725,000
Current use
OFFICE BUILDING
$2,440,000
Change: +41% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,175,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,100,000
Change: +22% · Conversion: Easy
RETAIL STORES
$1,655,000
Change: -4% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,550,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±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
$125 / 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
$33,521
Tax year 2023
Assessed value
$1,420,400
Assessed 2023
Previous assessed
$1,420,400
+0.0% YoY
Effective rate
2.36%
On assessed value
Assessed land
$237,000
Assessed improvement
$1,183,400
Land market value
$237,000
Improvement market value
$1,183,400
Total market value
$1,420,400
Applied tax rate
21.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
11,878 SF
Lot
0.09 ac (4,085 SF)
Zoning code
C-1
APN
21-13-0849 -001
UPID
US40-1352251
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-1 · Baltimore, MDZoning C-1 · permitted uses
C-1 · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ermitted and Conditional Uses Table 9-401 Rowhouse and Multi-Family Residential Districts - Bulk and Yard Regulations Table 10-301 Commercial Districts - Permitted and Conditional Uses Table 10-401 Commercial Districts (C-1 to C-4) - Bulk and Yard Regulations Table 10-401 Commercial Districts (C-5) - Bulk and Yard Regulations Table 11-301 Industrial Districts - Permitted and Conditional Uses Table 11-401 Industrial Districts - Bulk and Yar
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
726.10 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.6M
MEDICAL BUILDING Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Florida Avenue Jv LLC
Entity
Free & Clear · 11 yrs held
Mailing address
14672 SOUTHLAWN LN STE, ROCKVILLE, MD 20850-1376
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2015
$1,300,000
Florida Avenue Jv LLC
Bon Seeours Hospital Baltimore
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.
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