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Property profile & analytics
OFF-MARKET
Estimated value
$17,060,000
Industrial properties
7449 Race Rd, Hanover, MD 21076-2445
Entity Owned
15-yr Hold
Free & Clear
Property ID
US40-0609900
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL PARK
Year built
2008
Total area
50,880 SF
Lot
10.14 ac (441,698 SF)
Zoning code
W1
APN
04-000-05398500
UPID
US40-0609900
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
$11.02M
Blend (final)
Blend
$17.06M
Owner & transaction history
Clpf Race Road LP · 15 yrs held
Clpf Race Road LP
since 2010
Last sale
$23.8M
5 recorded transactions
Zoning & alternative use
W1 · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$20.7M
+271.5%
Auto repair, garage
$11.7M
+110.9%
Restaurant
$11.6M
+107.8%
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
COMMERCIAL (GENERAL)
$20,685,000
Change: +272% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,740,000
Change: +111% · Conversion: Easy
RESTAURANT
$11,570,000
Change: +108% · Conversion: Difficult
OFFICE BUILDING
$10,450,000
Change: +88% · Conversion: Difficult
Blend value · Realmo final
$17.06M
Range $15.35M – $18.77M · ±10% · vs last sale $23.80M (Feb 7 2025)
Last sale anchor
$23.80M
Feb 7 2025
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
$335 / 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
$127,733
Tax year 2023
Assessed value
$11,697,167
Assessed 2023
Previous assessed
$11,696,300
+0.0% YoY
Effective rate
1.09%
On assessed value
Land market value
$1,582,900
Improvement market value
$10,116,000
Total market value
$11,698,900
Applied tax rate
4.0000
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 PARK
Status
Off-Market
Year built
2008
Heating
SPACE
Buildings
2
Stories
1
Units
3
Bathrooms
1
Total area
50,880 SF
Lot
10.14 ac (441,698 SF)
Zoning code
W1
APN
04-000-05398500
UPID
US40-0609900
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
COMMERCIAL (GENERAL)
Est. value
$20.7M
AUTO REPAIR, GARAGE
Est. value
$11.7M
RESTAURANT
Est. value
$11.6M
OFFICE BUILDING
Est. value
$10.5M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE 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
2008
Heating
SPACE
Stories
1
Buildings
2
Units
3
Bathrooms
1
Lot
10.14 ac
Current owner
From public records · entity-resolved
Clpf Race Road LP
Entity
Free & Clear · 15 yrs held
Mailing address
10960 GRANTCHESTER WAY STE #540, COLUMBIA, MD 21044-6114
Ownership since
2010
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
Dec 22, 2010
$12,280,000
Clpf Race Road LP
Cabot II - Md1l01 LLC
Grant Deed
—
Oct 4, 2006
$1,050,000
Cabot II Mdil01 LLC
Simms,herbert M
Grant Deed
—
Dec 6, 2005
$1,050,000
Cabot II-md1l01 LLC
Simms,herert M
Grant Deed
—
Jan 16, 1997
—
Herbert M Simms
Simms,arnita H
Quit Claim Deed
related
—
—
—
Cabot II - Md1l01 LLC
—
Deed Of Trust
related
$10,000,000 · Cabot Ind'l Value Fund II Oper
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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