Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,995,000
Office buildings
7050 Hi Tech Dr Hanover, MD 21076-1089
Entity Owned
14-yr Hold
Free & Clear
Property ID
US40-1196570
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,040 SF
Lot
6.21 ac (270,508 SF)
Zoning code
M2
APN
01-289462
UPID
US40-1196570
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.37M
Comparable Approach
Comparable
$6.96M
Blend (final)
Blend
$7.00M
Owner & transaction history
7050 Hi Tech Drive LLC · 14 yrs held
7050 Hi Tech Drive LLC
since 2012
7 recorded transactions
Zoning & alternative use
M2 · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.5M
+12.4%
Restaurant
$9.3M
+10.7%
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 Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover 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%
$10,145,000
6.5%
$9,365,000
7%
$8,695,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,430,000
Current use
AUTO REPAIR, GARAGE
$9,470,000
Change: +12% · Conversion: Difficult
RESTAURANT
$9,330,000
Change: +11% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$7,515,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$7.00M
Range $6.30M – $7.69M · ±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
$170 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$51,093
Tax year 2022
Assessed value
$4,622,900
Assessed 2023
Previous assessed
$4,537,600
+1.9% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,073,800
Assessed improvement
$3,549,100
Land market value
$1,073,800
Improvement market value
$3,549,100
Total market value
$4,622,900
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
41,040 SF
Lot
6.21 ac (270,508 SF)
Zoning code
M2
APN
01-289462
UPID
US40-1196570
Jurisdiction
HOWARD
Zoning & alternative use
M2 · Hanover, MD
Zoning M2 · permitted uses
M2 · Hanover, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hanover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$9.5M
RESTAURANT
Est. value
$9.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
6.21 ac
Current owner
From public records · entity-resolved
7050 Hi Tech Drive LLC
Entity
Free & Clear · 14 yrs held
Mailing address
7050 HI TECH DR STE #200, HANOVER, MD 21076-1088
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2018
—
7050 Hi Itech Drive LLC
—
Deed
related
$3,200,000 · Sandy Spring Bk
Jul 17, 2012
$3,484,830
7050 Hi Tech Drive LLC
Redus New Hampshire LLC
Deed
—
May 19, 2011
$6,000,000
Redus New Hampshire LLC
Kremen Richard M
Trustees Deed
—
Aug 7, 2009
$2,405,000
Agency Properties LLC
Csg Patapsco LLC
Grant Deed
—
Jul 23, 2007
—
Csg Patapsco LLC
—
Deed Of Trust
related
$18,201,000 · Wachovia Bank NA
Nov 15, 2006
$2,845,000
Csg Patapsco LLC
Patapsco Valley Dev Corp
Grant Deed
related
—
Jun 27, 2001
$1,985,000
Patapsco Valley Dev Corp
Percontee INC
Grant Deed
$1,885,750 · Percontee INC
—
—
7050 Hi Itech Drive LLC
—
Loan Modification
related
$3,200,000 · Sandy Spring Bk
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?”
You own 7050 Hi Tech Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
