Entity Owned 
For Lease
1 / 2
$1,315,000
8515 Kelso Dr, Essex, MD 21221
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Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1999
Construction
BRICK
Total area
35,690 SF
Lot
10.21 ac (444,748 SF)
Zoning code
ML-IM
APN
15-1600002050
UPID
US40-0834985
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Industrial Manufacturer Production Facility
-
Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
-
Big Box & Wholesale Store
-
(Bike/Boat/Book/etc) Store Printing Service
-
Construction Company General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.62M
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$1.32M
Owner & transaction history
since 2025
7 recorded transactions
Zoning & alternative use
ML-IM · Essex, MD
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.32M
Value range
$1.18M – $1.45M
±10% around blend
Estimated value / SF
$37 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
40
$1.18M
blend $1.32M
$1.45M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
35,690 SF
Lot area
10.21 ac
Year built
1999
Stories
1
APN
15-1600002050
Zoning
ML-IM
Assessed value
$4,841,800
Annual tax
$30,193
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.62M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.92M
@ 6.5% CAP return
$3.62M
@ 7% CAP return
$3.36M
4
Sales comparison
Partial preview
Sales approach indication
$5.93M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.3 mi away · 45,751 SF
10.0 mi away · 25,610 SF
12.2 mi away · 33,600 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 345 sales
$152
-76%
County 130 sales
$259
-86%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $37/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.84M
Move the market yield to see immediate price impact.
Value / SF
$136
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$305k
$6.10M
$4.36M
$3.39M
$339k
$6.78M
$4.84M
$3.77M
$373k
$7.46M
$5.33M
$4.14M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$6.00M
3.4 mi · Jan 2026 · $182/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,193
Tax year 2023
Assessed value
$4,841,800
Assessed 2023
Previous assessed
$4,841,800
+0.0% YoY
Effective rate
0.62%
On assessed value
Assessed land
$1,885,500
Assessed improvement
$2,956,300
Land market value
$1,885,500
Improvement market value
$2,956,300
Total market value
$4,841,800
Applied tax rate
15.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1999
Construction
BRICK
Heating
SPACE
Buildings
2
Stories
1
Units
2
Total area
35,690 SF
Lot
10.21 ac (444,748 SF)
Zoning code
ML-IM
APN
15-1600002050
UPID
US40-0834985
Jurisdiction
BALTIMORE
Zoning & alternative use
ML-IM · Essex, MDZoning ML-IM · permitted uses
ML-IM · Essex, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1999
Construction
BRICK
Heating
SPACE
Stories
1
Buildings
2
Units
2
Lot
10.21 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
ML-IM
Jurisdiction
Essex, MD
Recorded code
ML-IM
Ownership Intelligence
Find the owner behind the property.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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