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Property profile & analytics
FOR LEASE
Office buildings
940 Ridgebrook Rd, Sparks Glencoe, MD 21152
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US40-1225825
For Lease
1 / 3
$38,245,000
940 Ridgebrook Rd, Sparks Glencoe, MD 21152
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Total area
218,049 SF
Lot
22.47 ac (978,793 SF)
APN
08-2400001824
UPID
US40-1225825
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
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
Electric Vehicle Charging Station Electric Vehicle Charging Station
-
Element office Corporate Office
-
D L Peterson Trust General Contractor
-
Blink Charging Station Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.58M
Blend (final)
Blend
$38.25M
Owner & transaction history
Katewood Deerwood LLC · 12 yrs held
Katewood Deerwood LLC
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$56.4M
+21.7%
Medical building
$49.6M
+7.0%
Retail stores
$46.5M
+0.4%
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 Sparks Glencoe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sparks Glencoe 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
Alternative Use
Use
Estimation
OFFICE BUILDING
$46,305,000
Current use
WAREHOUSE, STORAGE
$56,365,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$49,565,000
Change: +7% · Conversion: Easy
RETAIL STORES
$46,480,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$38.25M
Range $34.42M – $42.07M · ±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
$175 / 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
$441,485
Tax year 2023
Assessed value
$35,240,333
Assessed 2023
Previous assessed
$38,272,500
-7.9% YoY
Effective rate
1.25%
On assessed value
Land market value
$5,265,000
Improvement market value
$30,456,000
Total market value
$35,721,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2003
Heating
NONE
Stories
3
Units
1
Total area
218,049 SF
Lot
22.47 ac (978,793 SF)
APN
08-2400001824
UPID
US40-1225825
Jurisdiction
BALTIMORE
Zoning & alternative use
Zoning · permitted uses
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
OFFICE BUILDING Current
Est. value
$46.3M
WAREHOUSE, STORAGE
Est. value
$56.4M
MEDICAL BUILDING
Est. value
$49.6M
RETAIL STORES
Est. value
$46.5M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
2003
Heating
NONE
Stories
3
Units
1
Lot
22.47 ac
Current owner
From public records · entity-resolved
Katewood Deerwood LLC
Entity
Mailing address
940 RIDGEBROOK RD, SPARKS, MD 21152-9390
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2013
—
Katewood Deerwood LLC
Highland Partners LLC
Grant Deed
$27,000,000 · Cibc INC
Oct 17, 2003
—
Highland Partners LLC
—
Deed Of Trust
related
$17,353,000 · 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.
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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