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Property profile & analytics
OFF-MARKET
Estimated value
$3,700,000
Life science properties
7170 Standard Dr, Hanover, MD 21076-1321
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-2402014
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
48,000 SF
Lot
5.23 ac (227,819 SF)
Zoning code
W1
APN
05-620-12348040
UPID
US40-2402014
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
by Request
Blend (final)
Blend
$3.70M
Owner & transaction history
Pennsylvania Growers LLC · 5 yrs held
Pennsylvania Growers LLC
since 2021
Last sale
$4.0M
4 recorded transactions
Zoning & alternative use
W1 · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.8M
+121.1%
Restaurant
$5.8M
+118.9%
Industrial (general)
$5.6M
+110.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$2,640,000
Current use
AUTO REPAIR, GARAGE
$5,840,000
Change: +121% · Conversion: Difficult
RESTAURANT
$5,780,000
Change: +119% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,565,000
Change: +111% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,770,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$4,725,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$3.70M
Range $3.33M – $4.07M · ±10% · vs last sale $3.98M (May 20 2021)
Last sale anchor
$3.98M
May 20 2021
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
$77 / 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
$38,337
Tax year 2023
Assessed value
$3,510,700
Assessed 2023
Previous assessed
$3,300,000
+6.4% YoY
Effective rate
1.09%
On assessed value
Land market value
$1,359,800
Improvement market value
$2,572,300
Total market value
$3,932,100
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
48,000 SF
Lot
5.23 ac (227,819 SF)
Zoning code
W1
APN
05-620-12348040
UPID
US40-2402014
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1 · Hanover, MD
Zoning W1 · permitted uses
W1 · 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
$2.6M
AUTO REPAIR, GARAGE
Est. value
$5.8M
RESTAURANT
Est. value
$5.8M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
WAREHOUSE, STORAGE
Est. value
$4.8M
RETAIL STORES
Est. value
$4.7M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
5.23 ac
Current owner
From public records · entity-resolved
Pennsylvania Growers LLC
Entity
Mailing address
7170 STANDARD DR, HANOVER, MD 21076-1321
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2021
$3,984,000
Pennsylvania Growers LLC
Rref III P Md Parkway 7170 LLC
Special Warranty Deed
$3,200,000 · Gregory Farno
Oct 30, 2018
—
Rref III-p Md Parkway 7100 L
—
Grant Deed
related
$49,920,000 · Cibc
Oct 25, 2018
$3,300,000
Rree III-p Md Parkeay 7170 LLC
Parkway LLC
Grant Deed
—
Jun 28, 2005
$78,250
Parkway LLC
Caleast Industrial Investors LLC
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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