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Property profile & analytics
OFF-MARKET
Estimated value
$7,755,000
Industrial properties
7522 Connelley Dr, Hanover, MD 21076-1785
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-0929905
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
42,300 SF
Lot
8.34 ac (363,290 SF)
Zoning code
W2
APN
05-099-90049431
UPID
US40-0929905
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
$7.53M
Blend (final)
Blend
$7.76M
Owner & transaction history
Bwi Commerce Park LLC · 1 yrs held
Bwi Commerce Park LLC
since 2024
2 recorded transactions
Zoning & alternative use
W2 · Hanover, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.8M
+110.9%
Restaurant
$9.6M
+107.8%
Office building
$8.7M
+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
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
AUTO REPAIR, GARAGE
$9,760,000
Change: +111% · Conversion: Easy
RESTAURANT
$9,620,000
Change: +108% · Conversion: Difficult
OFFICE BUILDING
$8,685,000
Change: +88% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,745,000
Change: +67% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,435,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$6,145,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$7.76M
Range $6.98M – $8.53M · ±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
$183 / 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
$91,048
Tax year 2023
Assessed value
$8,338,367
Assessed 2024
Previous assessed
$8,337,733
+0.0% YoY
Effective rate
1.09%
On assessed value
Land market value
$2,335,200
Improvement market value
$6,003,800
Total market value
$8,339,000
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
42,300 SF
Lot
8.34 ac (363,290 SF)
Zoning code
W2
APN
05-099-90049431
UPID
US40-0929905
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
AUTO REPAIR, GARAGE
Est. value
$9.8M
RESTAURANT
Est. value
$9.6M
OFFICE BUILDING
Est. value
$8.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.7M
WAREHOUSE, STORAGE
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$6.1M
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
8.34 ac
Current owner
From public records · entity-resolved
Bwi Commerce Park LLC
Entity
Mailing address
560 LORD BALTIMORE DR, BALTIMORE, MD 21244
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2024
—
Bwi Commerce Park LLC
Friendship Business Center Lllp
Special Warranty Deed
$25,000,000 · United Of Omaha Life Insurance Comp
—
—
Friendship Business Ct Lllp
—
Deed Of Trust
related
$11,700,000 · John Hancock Life Insurance Co
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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