New search
Property profile & analytics
OFF-MARKET
Estimated value
$37,465,000
Industrial properties
7231 Pkwy Dr, Hanover, MD 21076-1788
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0177533
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
259,502 SF
Lot
16.17 ac (704,365 SF)
Zoning code
W1B
APN
05-000-09028100
UPID
US40-0177533
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
$31.48M
Blend (final)
Blend
$37.47M
Owner & transaction history
Parkway Owner I LLC · 4 yrs held
Parkway Owner I LLC
since 2022
Last sale
$41.4M
5 recorded transactions
Zoning & alternative use
W1B · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$59.9M
+110.9%
Restaurant
$59.0M
+107.8%
Office building
$53.3M
+87.7%
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
$39,700,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$28,395,000
Current use
AUTO REPAIR, GARAGE
$59,875,000
Change: +111% · Conversion: Easy
RESTAURANT
$59,010,000
Change: +108% · Conversion: Difficult
OFFICE BUILDING
$53,290,000
Change: +88% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$47,525,000
Change: +67% · Conversion: Difficult
WAREHOUSE, STORAGE
$39,475,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$37,710,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$37.47M
Range $33.72M – $41.21M · ±10% · vs last sale $41.40M (Apr 1 2022)
Last sale anchor
$41.40M
Apr 1 2022
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
$144 / 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
$380,613
Tax year 2023
Assessed value
$34,854,667
Assessed 2023
Previous assessed
$31,961,500
+9.1% YoY
Effective rate
1.09%
On assessed value
Land market value
$4,204,200
Improvement market value
$36,436,800
Total market value
$40,641,000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
259,502 SF
Lot
16.17 ac (704,365 SF)
Zoning code
W1B
APN
05-000-09028100
UPID
US40-0177533
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1B · Hanover, MD
Zoning W1B · permitted uses
W1B · 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
INDUSTRIAL (GENERAL) Current
Est. value
$28.4M
AUTO REPAIR, GARAGE
Est. value
$59.9M
RESTAURANT
Est. value
$59.0M
OFFICE BUILDING
Est. value
$53.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$47.5M
WAREHOUSE, STORAGE
Est. value
$39.5M
MEDICAL BUILDING
Est. value
$37.7M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
16.17 ac
Current owner
From public records · entity-resolved
Parkway Owner I LLC
Entity
Mailing address
123 PROSPECT ST, RIDGEWOOD, NJ 07450-4435
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2022
$41,400,000
Parkway Owner I LLC
Parkway Phase I LLC
Special Warranty Deed
$44,460,000 · Global Investment Fund I
Jan 19, 2017
—
Parkway Phase I LLC
Wxv 7231 Parkway Drive Feet Ll
Quit Claim Deed
—
Nov 12, 2003
—
Wxv 7231 Parkway Drive Fee LLC
—
Trustees Deed
related
$20,900 · Lasalle National Bank
Sep 4, 2002
$4,650,000
Wxv 7231 Parkway Dr Fee LLC
Alisan,tr
Grant Deed
$4,507,000 · Provident Bank Maryland
Dec 2, 1998
$1,995,000
Alisan Trust
Klinnoc Realty Co INC
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.
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 7231 Pkwy 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.
