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Property profile & analytics
OFF-MARKET
Estimated value
$4,105,000
Distribution centers
9940 Franklin Sq Dr, Baltimore, MD 21236-4981
Entity Owned
11-yr Hold
Free & Clear
Property ID
US40-1244791
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Construction
BRICK
Total area
33,600 SF
Lot
3.33 ac (145,055 SF)
Zoning code
ML
APN
14-2300006817
UPID
US40-1244791
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
-
Day Pepper L MD Physician
-
taoh solutions & consulting, llc Consultant
-
Schaffer Co Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.93M
Blend (final)
Blend
$4.11M
Owner & transaction history
Ikea Property INC · 11 yrs held
Ikea Property INC
since 2014
2 recorded transactions
Zoning & alternative use
ML · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.2M
+20.4%
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 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
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,110,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,155,000
Change: +20% · Conversion: Moderate
MEDICAL BUILDING
$4,880,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$4,680,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$4.11M
Range $3.69M – $4.52M · ±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
$122 / 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
$75,507
Tax year 2023
Assessed value
$3,841,733
Assessed 2023
Previous assessed
$3,693,967
+4.0% YoY
Effective rate
1.97%
On assessed value
Land market value
$1,330,400
Improvement market value
$2,659,100
Total market value
$3,989,500
Applied tax rate
14.0000
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
Off-Market
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Total area
33,600 SF
Lot
3.33 ac (145,055 SF)
Zoning code
ML
APN
14-2300006817
UPID
US40-1244791
Jurisdiction
BALTIMORE
Zoning & alternative use
ML · Baltimore, MD
Zoning ML · permitted uses
ML · 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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$4.9M
RETAIL STORES
Est. value
$4.7M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
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
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Lot
3.33 ac
Current owner
From public records · entity-resolved
Ikea Property INC
Entity
Free & Clear · 11 yrs held
Mailing address
420 ALAN WOOD RD, CONSHOHOCKEN, PA 19428-1141
Ownership since
2014
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
Jul 31, 2014
$10,475,000
Ikea Property INC
Franklin Rdg 1 Business
Grant Deed
—
Jan 15, 2003
—
Ridge 1 Franklin
Nottingham Village INC
Grant Deed
related
—
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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