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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Warehouses
806 Race Rd, Essex, MD 21221-3114
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US40-2285535
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1974
Construction
BRICK
Total area
6,449 SF
Lot
2.14 ac (93,218 SF)
Zoning code
ML-IM
APN
15-2300010997
UPID
US40-2285535
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
$895k
CAP Approach
CAP
$655k
Comparable Approach
Comparable
$779k
Blend (final)
Blend
$825k
Owner & transaction history
Lfm Partners 806 Race Road LLC · 2 yrs held
Lfm Partners 806 Race Road LLC
since 2024
Last sale
$800,000
7 recorded transactions
Zoning & alternative use
ML-IM · Essex, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+35.0%
Retail stores
$1.2M
+24.9%
Commercial (general)
$1.2M
+23.3%
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 Essex submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Essex 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
$860,000
ML approach
$895,000
CAP Approach
CAP Return
Estimation
6%
$710,000
6.5%
$655,000
7%
$605,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$980,000
Current use
OFFICE BUILDING
$1,325,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$1,225,000
Change: +25% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,210,000
Change: +23% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,180,000
Change: +20% · Conversion: Moderate
MEDICAL BUILDING
$935,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$825k
Range $743k – $908k · ±10% · vs last sale $800k (Apr 5 2023)
Last sale anchor
$800k
Apr 5 2023
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
$128 / 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
$7,142
Tax year 2023
Assessed value
$982,700
Assessed 2023
Previous assessed
$956,267
+2.8% YoY
Effective rate
0.73%
On assessed value
Assessed land
$570,500
Assessed improvement
$412,200
Land market value
$570,500
Improvement market value
$412,200
Total market value
$982,700
Applied tax rate
15.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1974
Construction
BRICK
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
6,449 SF
Lot
2.14 ac (93,218 SF)
Zoning code
ML-IM
APN
15-2300010997
UPID
US40-2285535
Jurisdiction
BALTIMORE
Zoning & alternative use
ML-IM · Essex, MD
Zoning ML-IM · permitted uses
ML-IM · Essex, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Essex. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$980,000
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$935,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1974
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
2
Lot
2.14 ac
Current owner
From public records · entity-resolved
Lfm Partners 806 Race Road LLC
Entity
Mailing address
806 RACE RD, ESSEX, MD 21221-3114
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
$1,500,000
Lfm Partners 806 Race Road LLC
806 Race Rd Limited Liability Compa
Deed
$950,000 · Pnc Bank NA
Aug 11, 2023
—
806 Race Rd
—
Deed
related
$250,000 · United Bank
Apr 5, 2023
$800,000
806 Race Rad Limited Liability Comp
806 Race LLC
Deed
$640,000 · United Bank
Mar 28, 2018
$990,000
806 Race LLC
R2w2 Lllc
Deed
$792,000 · Bank Of America NA
Jan 11, 2005
$635,000
R2w2 LLC
R J Musser Construction INC
Deed
—
Oct 26, 2001
—
R J Musser Construction INC
—
Trustees Deed
related
—
Dec 20, 2000
$381,100
R J Musser Construction INC
Mark-trece INC
Grant Deed
$304,880 · Susquehanna Bank
—
—
R J Musser Construction INC
—
Deed Of Trust
related
$304,880 · Susquehanna Bank
—
—
Rj Musser Construction INC
—
Deed Of Trust
related
$499,999 · Susquehanna 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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