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Property profile & analytics
OFF-MARKET
Estimated value
$5,335,000
Distribution centers
703 Ordnance Rd, Baltimore, MD 21226-1758
Entity Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1046444
Property summary
AI-generated overview
This exceptional flex space, part of the Curtis Business Center 4, offers 2,700 square feet of versatile industrial space for lease in Baltimore, Maryland. Situated at 703 E Ordnance Rd, in the Route 2 Corridor Ind submarket of Anne Arundel County, this single-story building boasts a total of 295,650 square feet. The unit features ceiling heights ranging from 10 to 20 feet, providing ample vertical space for various business needs. The property includes convenient access with one drive-in door and ample parking with 107 spaces available for tenants and their clients. The building is zoned C4 and benefits from robust electrical service, including 120/208 volt, 3-phase, 4-wire power. This location offers easy access to Route 2, making it an ideal choice for businesses requiring efficient transportation links. The property is currently multi-tenant, providing a collaborative and dynamic work environment. This is a rare opportunity to secure a well-located, functional flex space in a thriving industrial area. Inquire today to learn more about this exceptional leasing opportunity.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2006
Total area
39,336 SF
Lot
2.22 ac (96,703 SF)
Zoning code
C4
APN
05-156-90087663
UPID
US40-1046444
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
-
DW Services MD, LLC. Hardware & Home Improvement Interior Design
-
Ferguson Plumbing Supply Plumbing Service Building Supply
-
Merritt Properties - Curtis Business Center 4 Real Estate Agency
-
Winstar Renovation Specialist General Contractor
-
TIPCO Technologies Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.46M
Blend (final)
Blend
$5.34M
Owner & transaction history
Merritt-088 LLC · 17 yrs held
Merritt-088 LLC
since 2008
2 recorded transactions
Zoning & alternative use
C4 · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.1M
+35.0%
Neighborhood: shopping center
$7.2M
+20.4%
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
WAREHOUSE, STORAGE
$5,985,000
Current use
OFFICE BUILDING
$8,080,000
Change: +35% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,205,000
Change: +20% · Conversion: Moderate
MEDICAL BUILDING
$5,715,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$5,480,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$5.34M
Range $4.80M – $5.87M · ±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
$136 / 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
$37,093
Tax year 2023
Assessed value
$3,396,833
Assessed 2023
Previous assessed
$3,063,200
+10.9% YoY
Effective rate
1.09%
On assessed value
Land market value
$1,106,000
Improvement market value
$2,958,100
Total market value
$4,064,100
Applied tax rate
5.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2006
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
39,336 SF
Lot
2.22 ac (96,703 SF)
Zoning code
C4
APN
05-156-90087663
UPID
US40-1046444
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C4 · Baltimore, MD
Zoning C4 · permitted uses
C4 · 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
WAREHOUSE, STORAGE Current
Est. value
$6.0M
OFFICE BUILDING
Est. value
$8.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.2M
MEDICAL BUILDING
Est. value
$5.7M
RETAIL STORES
Est. value
$5.5M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
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
2006
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
2.22 ac
Current owner
From public records · entity-resolved
Merritt-088 LLC
Entity
Mailing address
2066 LORD BALTIMORE DR, BALTIMORE, MD 21244-2501
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Aug 25, 2008
—
Merritt-088 LLC
—
Deed Of Trust
related
$15,000,000 · Manufacturers Traders & Trust
—
—
Eldersburg Business Center In
—
Loan Modification
related
$90,000,000 · Manufacturers & Traders Tr
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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