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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Medical Office Space
8021 Ritchie Hwy Pasadena, MD 21122-1047
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US40-0865910
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1953
Construction
BRICK
Total area
3,024 SF
Lot
0.46 ac (19,994 SF)
Zoning code
C2
APN
03-000-12879900
UPID
US40-0865910
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
$675k
Comparable Approach
Comparable
$359k
Blend (final)
Blend
$585k
Owner & transaction history
Milmer LLC · 7 yrs held
Milmer LLC
since 2018
3 recorded transactions
Zoning & alternative use
C2 · Pasadena, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena 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%
$730,000
6.5%
$675,000
7%
$625,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$925,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$193 / 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
$6,756
Tax year 2023
Assessed value
$618,700
Assessed 2023
Previous assessed
$618,700
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$487,400
Assessed improvement
$131,300
Land market value
$487,400
Improvement market value
$131,300
Total market value
$618,700
Applied tax rate
3.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1953
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Total area
3,024 SF
Lot
0.46 ac (19,994 SF)
Zoning code
C2
APN
03-000-12879900
UPID
US40-0865910
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C2 · Pasadena, MDZoning C2 · permitted uses
C2 · Pasadena, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$925,000
COMMERCIAL (GENERAL)
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
1953
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Milmer LLC
Entity
Mailing address
8021 RITCHIE HWY, PASADENA, MD 21122-1047
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2018
$843,500
Milmer LLC
Eighty Twenty One Ritchie LLC
Deed
$717,000 · First Citizens Bank
Jul 20, 2000
$500,000
Cyriac & Mundra LLC
Ekh Properties LLC
Grant Deed
$360,000 · Slavie Federal Savings & Loan
Jan 6, 1999
—
Quarterfield Place LLC
—
Deed Of Trust
related
$2,100,000 · County National Bank
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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