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Property profile & analytics
FOR LEASE
Office buildings
7458 Candlewood Rd Hanover, MD 21076
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US40-0128414
For Lease
$9,410,000
7458 Candlewood Rd, Hanover, MD 21076
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
BRICK
Total area
32,990 SF
Lot
14.4 ac (627,264 SF)
Zoning code
W2
APN
05-033-90025363
UPID
US40-0128414
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
$11.33M
Blend (final)
Blend
$9.41M
Owner & transaction history
Icon Mars Property Owner Pool · 11 yrs held
Icon Mars Property Owner Pool
since 2015
7 recorded transactions
Zoning & alternative use
W2 · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.4M
+98.0%
Auto repair, garage
$7.6M
+12.4%
Restaurant
$7.5M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,775,000
Current use
COMMERCIAL (GENERAL)
$13,410,000
Change: +98% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,610,000
Change: +12% · Conversion: Difficult
RESTAURANT
$7,500,000
Change: +11% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$6,040,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$9.41M
Range $8.47M – $10.35M · ±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
$285 / 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
$224,582
Tax year 2023
Assessed value
$20,566,133
Assessed 2023
Previous assessed
$19,097,700
+7.7% YoY
Effective rate
1.09%
On assessed value
Land market value
$4,032,000
Improvement market value
$19,471,000
Total market value
$23,503,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1985
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Units
2
Total area
32,990 SF
Lot
14.4 ac (627,264 SF)
Zoning code
W2
APN
05-033-90025363
UPID
US40-0128414
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W2 · Hanover, MD
Zoning W2 · permitted uses
W2 · 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
$6.8M
COMMERCIAL (GENERAL)
Est. value
$13.4M
AUTO REPAIR, GARAGE
Est. value
$7.6M
RESTAURANT
Est. value
$7.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1985
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
14.4 ac
Current owner
From public records · entity-resolved
Icon Mars Property Owner Pool
Entity
Mailing address
2 N RIVERSIDE PLZ STE #2350, CHICAGO, IL 60606-2617
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2018
—
Icon Mars Prop Owner Pool 2 No
—
Grant Deed
related
$385,000,000 · Miscellaneous Ins Co
Mar 10, 2015
—
Icon Mars Property Owner Pool
Bre Of Mars Property Owner LLC
Grant Deed
—
Jun 25, 2013
$17,081,000
Bre Mars Property Owner LLC
Fp Candlewood LLC
Special Warranty Deed
$205,000,000 · Jpmorgan Chase Bank NA
Jan 3, 2011
$22,600,000
Fp Candlewood LLC
1300 Mercedes LLC
Grant Deed
—
Jan 3, 2011
—
Fp Candlewood LLC
—
Deed Of Trust
related
$14,657,641 · Manufacturers Traders & Trust
May 27, 2009
—
1300 Mercedes LLC
—
Trustees Deed
related
$250,000 · Provident Bank INC
Dec 21, 2005
$11,500,000
1300 Mercedes LLC
New Boston Of Meridian LLC
Deed Of Trust
related
$15,035,000 · Provident Bank INC
Feb 12, 2004
$8,000,000
New Boston/meridian LLC
Mercedes-benz USA INC
Grant Deed
$6,725,000 · Lasalle National Bank
—
—
1300 Mercedes LLC
—
Deed Of Trust
related
$3,815 · Provident Bank INC
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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