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Property profile & analytics
OFF-MARKET
Estimated value
$15,645,000
Medical Office Space
8322 Bellona Ave Towson, MD 21204-2065
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1314984
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Construction
BRICK
Total area
70,305 SF
Lot
4 ac (174,240 SF)
Zoning code
BR
APN
08-2200008344
UPID
US40-1314984
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
$15.68M
Comparable Approach
Comparable
$15.11M
Blend (final)
Blend
$15.65M
Owner & transaction history
Well Tpi Jv LLC · 4 yrs held
Well Tpi Jv LLC
since 2022
Last sale
$15.9M
4 recorded transactions
Zoning & alternative use
BR · Towson, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$16.2M
+58.8%
Restaurant
$16.0M
+56.5%
Office building
$15.0M
+47.1%
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 Towson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Towson 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
$18,990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,985,000
6.5%
$15,675,000
7%
$14,555,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$10,215,000
Current use
AUTO REPAIR, GARAGE
$16,220,000
Change: +59% · Conversion: Difficult
RESTAURANT
$15,985,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$15,030,000
Change: +47% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$12,875,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$10,695,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$9,795,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$15.65M
Range $14.08M – $17.21M · ±10% · vs last sale $15.90M (Jul 26 2022)
Last sale anchor
$15.90M
Jul 26 2022
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
$223 / 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
$171,048
Tax year 2023
Assessed value
$11,608,333
Assessed 2023
Previous assessed
$11,579,400
+0.2% YoY
Effective rate
1.47%
On assessed value
Land market value
$2,001,000
Improvement market value
$9,665,200
Total market value
$11,666,200
Applied tax rate
8.0000
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
1992
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Units
1
Total area
70,305 SF
Lot
4 ac (174,240 SF)
Zoning code
BR
APN
08-2200008344
UPID
US40-1314984
Jurisdiction
BALTIMORE
Zoning & alternative use
BR · Towson, MDZoning BR · permitted uses
BR · Towson, 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
MEDICAL BUILDING Current
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$16.2M
RESTAURANT
Est. value
$16.0M
OFFICE BUILDING
Est. value
$15.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.9M
WAREHOUSE, STORAGE
Est. value
$10.7M
RETAIL STORES
Est. value
$9.8M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
RETAIL STORES
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
1992
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
3
Units
1
Lot
4 ac
Current owner
From public records · entity-resolved
Well Tpi Jv LLC
Entity
Mailing address
716 GIDDINGS AVE STE #43, ANNAPOLIS, MD 21401-1421
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2022
$15,900,000
Well Tpi Jv LLC
Bellona Lane Orthopaedic Associates
Special Warranty Deed
—
Aug 3, 2020
—
Bellona Lane Orthopedic Associates
—
Deed
related
$9,700,000 · Atlantic Union Bank
Jun 10, 1998
—
Bellona Lane Orthopaedic Assoc
Bellona Lane Orthopaedic Assoc
Quit Claim Deed
related
$3,400,000 · Mercantile-safe Deposit & Trus
—
—
Bellona Lane Orthopaedic Assoc
—
Loan Modification
related
$9,400,000 · Manufacturers Traders & Trust
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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