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Property profile & analytics
OFF-MARKET
Estimated value
$28,170,000
Outlet malls
9919 Pulaski Hwy Middle River, MD 21220-1411
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0850067
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1988
Construction
BRICK
Total area
144,340 SF
Lot
19.02 ac (828,511 SF)
Zoning code
BRCS1
APN
15-2200005182
UPID
US40-0850067
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
$31.43M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$28.17M
Owner & transaction history
Carrollton White Marsh LLC · 4 yrs held
Carrollton White Marsh LLC
since 2022
Last sale
$25.4M
7 recorded transactions
Zoning & alternative use
BRCS1 · Middle River, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$35.4M
+76.3%
Auto repair, garage
$33.3M
+65.7%
Restaurant
$32.8M
+63.3%
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 Middle River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middle River 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
$30,380,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$34,050,000
6.5%
$31,430,000
7%
$29,185,000
Alternative Use
Use
Estimation
RETAIL STORES
$20,105,000
Current use
COMMERCIAL (GENERAL)
$35,445,000
Change: +76% · Conversion: Easy
AUTO REPAIR, GARAGE
$33,305,000
Change: +66% · Conversion: Difficult
RESTAURANT
$32,825,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$29,640,000
Change: +47% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$26,435,000
Change: +31% · Conversion: Moderate
WAREHOUSE, STORAGE
$21,955,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$20,975,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$28.17M
Range $25.35M – $30.99M · ±10% · vs last sale $25.44M (May 16 2022)
Last sale anchor
$25.44M
May 16 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
$195 / 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
$201,332
Tax year 2023
Assessed value
$13,450,200
Assessed 2023
Previous assessed
$12,688,633
+6.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$8,706,000
Assessed improvement
$4,744,200
Land market value
$8,706,000
Improvement market value
$4,744,200
Total market value
$13,450,200
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1988
Construction
BRICK
Heating
NONE
Buildings
2
Stories
1
Units
2
Total area
144,340 SF
Lot
19.02 ac (828,511 SF)
Zoning code
BRCS1
APN
15-2200005182
UPID
US40-0850067
Jurisdiction
BALTIMORE
Zoning & alternative use
BRCS1 · Middle River, MD
Zoning BRCS1 · permitted uses
BRCS1 · Middle River, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middle River. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$20.1M
COMMERCIAL (GENERAL)
Est. value
$35.4M
AUTO REPAIR, GARAGE
Est. value
$33.3M
RESTAURANT
Est. value
$32.8M
OFFICE BUILDING
Est. value
$29.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.4M
WAREHOUSE, STORAGE
Est. value
$22.0M
MEDICAL BUILDING
Est. value
$21.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
MEDICAL 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
1988
Construction
BRICK
Heating
NONE
Stories
1
Buildings
2
Units
2
Lot
19.02 ac
Current owner
From public records · entity-resolved
Carrollton White Marsh LLC
Entity
Mailing address
11785 BELTSVILLE DR STE #1600, BELTSVILLE, MD 20705-4048
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2022
$25,436,250
Carrollton White Marsh LLC
Mosaie White Marsh Owner LLC
Special Warranty Deed
$16,575,000 · Sandy Spring Bank
Oct 19, 2020
—
State Highway Administraion
Mosaic White Marsh Owner LLC
Grant Deed
—
Jan 16, 2018
$13,500,000
Mosaic White Marsh Owner LLC
Ddrtc Cp LLC
Grant Deed
$9,000,000 · Miscellaneous Ins Co
Mar 6, 2012
—
Ddrtc Cp LLC
—
Deed Of Trust
related
$16,431,075 · Metropolitan Life Insurance
Mar 7, 2007
—
Ddrtc Cp LLC
I S White Marsh Trust
Grant Deed
$16,431,075 · Metropolitan Life Insurance
Jun 25, 2003
—
Marsh,tr
Price Reit INC
Grant Deed
related
—
—
—
Ddrtc Cp LLC
—
Deed Of Trust
related
$13,900,000 · Metropolitan Life Insurance
—
—
White,marsh Tr
—
Deed Of Trust
related
$9,255,000 · Bear Stearns Commercial Mtg
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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