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Property profile & analytics
OFF-MARKET
Estimated value
$7,070,000
Super regional malls
Outlet Ctr Dr, Queenstown, MD 21658
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US40-1718281
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1989
Construction
BRICK
Total area
69,030 SF
Lot
0 ac (15 SF)
Zoning code
SC
APN
05-023203
UPID
US40-1718281
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.07M
Owner & transaction history
Second Horizon Group · 19 yrs held
Second Horizon Group
since 2006
1 recorded transaction
Zoning & alternative use
SC · Queenstown, 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 Queenstown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Queenstown 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
$10,685,000
Change: 0% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,000,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$9,955,000
Change: 0% · Conversion: Easy
WAREHOUSE, STORAGE
$7,470,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,745,000
Change: 0% · Conversion: Difficult
RESTAURANT
$6,150,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$7.07M
Range $6.36M – $7.78M · ±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
$102 / 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
$168,093
Tax year 2023
Assessed value
$14,327,700
Assessed 2023
Previous assessed
$16,410,800
-12.7% YoY
Effective rate
1.17%
On assessed value
Assessed land
$5,141,500
Assessed improvement
$9,186,200
Land market value
$5,141,500
Improvement market value
$9,186,200
Total market value
$14,327,700
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1989
Construction
BRICK
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
2
Total area
69,030 SF
Lot
0 ac (15 SF)
Zoning code
SC
APN
05-023203
UPID
US40-1718281
Jurisdiction
QUEEN ANNE'S
Zoning & alternative use
SC · Queenstown, MD
Zoning SC · permitted uses
SC · Queenstown, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Queenstown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$10.7M
AUTO REPAIR, GARAGE
Est. value
$10.0M
RETAIL STORES
Est. value
$10.0M
WAREHOUSE, STORAGE
Est. value
$7.5M
INDUSTRIAL (GENERAL)
Est. value
$6.7M
RESTAURANT
Est. value
$6.2M
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
RESTAURANT
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
1989
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
2
Lot
0 ac
Current owner
From public records · entity-resolved
Second Horizon Group
Entity
Mailing address
PO BOX 6120, INDIANAPOLIS, IN 46206-6120
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2006
—
Second Horizon Group
—
Deed Of Trust
related
$100,000,000 · Citigroup Global Markets Realt
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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