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Property profile & analytics
FOR LEASE
Distribution centers
8800 Kelso Dr, Baltimore, MD 21221
Entity Owned
28-yr Hold
Free & Clear
Property ID
US40-1340002
No photos on file
For Lease
$9,130,000
8800 Kelso Dr, Baltimore, MD 21221
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1978
Construction
BRICK
Total area
162,100 SF
Lot
8.62 ac (375,487 SF)
Zoning code
ML-IM
APN
15-1700013754
UPID
US40-1340002
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
Current use
Occupant on record · Public records
-
Flavor & Fragrance Specialties Industrial Manufacturer Production Facility
-
Lucta USA Manufacturing Industrial Manufacturer Production Facility
-
Roadtex Transportation Corporation Freight Service Logistics Company
-
Marine Enterprises International Professional Services
-
Merritt Properties - Kelso Business Center 3 Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.64M
Blend (final)
Blend
$9.13M
Owner & transaction history
Merritt,& Kj LLC · 28 yrs held
Merritt,& Kj LLC
since 1997
3 recorded transactions
Zoning & alternative use
ML-IM · Baltimore, 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 Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.13M
Range $8.22M – $10.04M · ±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
$56 / 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
$54,631
Tax year 2023
Assessed value
$6,956,800
Assessed 2023
Previous assessed
$6,895,767
+0.9% YoY
Effective rate
0.79%
On assessed value
Assessed land
$2,801,500
Assessed improvement
$4,155,300
Land market value
$2,801,500
Improvement market value
$4,155,300
Total market value
$6,956,800
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1978
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Total area
162,100 SF
Lot
8.62 ac (375,487 SF)
Zoning code
ML-IM
APN
15-1700013754
UPID
US40-1340002
Jurisdiction
BALTIMORE
Zoning & alternative use
ML-IM · Baltimore, MD
Zoning ML-IM · permitted uses
ML-IM · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1978
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Lot
8.62 ac
Current owner
From public records · entity-resolved
Merritt,& Kj LLC
Entity
Free & Clear · 28 yrs held
Mailing address
2066 LORD BALTIMORE DR, BALTIMORE, MD 21244-2501
Ownership since
1997
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
May 4, 2020
—
Merritt-020 LLC
—
Deed
related
$137,554,838 · Miscellaneous Ins Co
Dec 18, 1997
—
Merritt,& Kj LLC
Kelso Joint Vent
Grant Deed
related
—
—
—
Merritt-020 LLC
—
Loan Modification
related
$137,554,838 · Miscellaneous Ins Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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