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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Life science properties
7141 Rdg Rd, Hanover, MD 21076
Individually Owned
2-yr Hold
Free & Clear
Property ID
US40-1345034
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1968
Construction
BRICK
Total area
8,780 SF
Lot
36.61 ac (1,594,732 SF)
Zoning code
W1A
APN
05-000-17231250
UPID
US40-1345034
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
$757k
Blend (final)
Blend
$755k
Owner & transaction history
Northrop Grumman Systems Corporatio · 2 yrs held
Northrop Grumman Systems Corporatio
since 2024
1 recorded transaction
Zoning & alternative use
W1A · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+149.7%
Auto repair, garage
$1.1M
+121.1%
Restaurant
$1.1M
+118.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$485,000
Current use
OFFICE BUILDING
$1,205,000
Change: +150% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,070,000
Change: +121% · Conversion: Difficult
RESTAURANT
$1,055,000
Change: +119% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,020,000
Change: +111% · Conversion: Difficult
WAREHOUSE, STORAGE
$870,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$865,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$86 / 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
$70,348
Tax year 2023
Assessed value
$6,442,100
Assessed 2023
Previous assessed
$6,417,800
+0.4% YoY
Effective rate
1.09%
On assessed value
Land market value
$5,957,600
Improvement market value
$533,100
Total market value
$6,490,700
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1968
Construction
BRICK
Heating
HEAT PUMP
Stories
4
Units
1
Total area
8,780 SF
Lot
36.61 ac (1,594,732 SF)
Zoning code
W1A
APN
05-000-17231250
UPID
US40-1345034
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1A · Hanover, MD
Zoning W1A · permitted uses
W1A · 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
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$485,000
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$870,000
RETAIL STORES
Est. value
$865,000
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RESTAURANT
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1968
Construction
BRICK
Heating
HEAT PUMP
Stories
4
Units
1
Lot
36.61 ac
Current owner
From public records · entity-resolved
Northrop Grumman Systems Corporatio
Individual
Free & Clear · 2 yrs held
Mailing address
2980 FAIRVIEW PARK DR, FALLS CHURCH, VA 22042-4511
Ownership since
2024
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
May 6, 2024
—
Northrop Grumman Systems Corporatio
Northrop Grumman Systems Corporatio
Intrafamily Transfer
related
—
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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