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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Investment properties
815 Bay Rdg Ave Annapolis, MD 21403-2433
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-0136927
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1938
Total area
2,156 SF
Lot
0.13 ac (5,730 SF)
Zoning code
B1
APN
06-000-08926100
UPID
US40-0136927
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
$1.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.25M
Owner & transaction history
Mack Gilmor Richmon · 5 yrs held
Mack Gilmor Richmon
since 2020
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
B1 · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The B1 Convenience Shopping District is designed for the convenience shopping of persons residing in adjacent residential areas, as well as to provide for some general retail shopping needs and other compatible uses, all uses in the B1 district must be compatible with surrounding residential neighborhoods
Zone name
Convenience Shopping
General category
COMMERCIAL
Zone area
16.52 ac
Source
Realmo
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 Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis 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
$1,435,000
ML approach
$1,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,190,000
Current use
OFFICE BUILDING
$1,075,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.13M (Sep 1 2020)
Last sale anchor
$1.13M
Sep 1 2020
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
$580 / 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
$12,457
Tax year 2023
Assessed value
$867,500
Assessed 2023
Previous assessed
$859,733
+0.9% YoY
Effective rate
1.44%
On assessed value
Assessed land
$511,600
Assessed improvement
$355,900
Land market value
$511,600
Improvement market value
$355,900
Total market value
$867,500
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1938
Heating
HEAT PUMP
Cooling
YES
Stories
2
Units
1
Bathrooms
2
Total area
2,156 SF
Lot
0.13 ac (5,730 SF)
Zoning code
B1
APN
06-000-08926100
UPID
US40-0136927
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
B1 · Annapolis, MDZoning B1 · permitted uses
B1 · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The B1 Convenience Shopping District is designed for the convenience shopping of persons residing in adjacent residential areas, as well as to provide for some general retail shopping needs and other compatible uses, all uses in the B1 district must be compatible with surrounding residential neighborhoods
Zone name
Convenience Shopping
General category
COMMERCIAL
Zone area
16.52 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
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
1938
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
1
Bathrooms
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Mack Gilmor Richmon
Individual
Mailing address
815 BAY RDG AVE, ANNAPOLIS, MD 21403-2433
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2025
—
Mack Gilmor Richmon
—
Deed
related
$350,000 · Sandy Spring Bank
Sep 16, 2022
—
Mack Gilmor Richmon
—
Deed
related
$125,000 · Sandy Spring Bank
Sep 1, 2020
$1,125,000
Mack Gilmor Richmon
Brendan O Gill
Deed
$900,000 · Citizens Bank NA
Aug 20, 2020
—
Brendan O Gill
—
Deed
related
$505,500 · First Home Mortgage Corp
Jun 19, 2020
—
Brendan O Gill
—
Deed
related
$300,000 · Evan K Thalenberg
Apr 6, 2006
$525,000
John J Tower
Dorsey,william A IV
Grant Deed
$472,500 · Coldwell Banker Home Loans
Mar 16, 2004
—
William A Dorsey
Dorsey,william A & Heather L
Quit Claim Deed
related
$229,000 · Primary Residential Mtg Corp
—
—
William S Dorsey
—
Deed Of Trust
related
$179,000 · Atlantic Coast
—
—
Brendan O Gill
—
Deed Of Trust
related
$252,000 · 1st Mariner Bank
—
—
William A Dorsey
—
Deed Of Trust
related
$183,000 · Primary Residential Mtg Corp
—
—
Brendan O Gill
—
Deed Of Trust
related
$300,000 · Evan K Thalenberg
—
—
Morgan T Gill
—
Deed Of Trust
related
$200,000 · Sandy Spring 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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