Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    21632 GREAT MILLS Road, Lexington Park, MD 20653

    View on Map
    Claim this Listing
    For Lease
    $1,800/Mo $22 SF/Yr (calc)

    CommercialLease - LEXINGTON PARK, MD

    Type:Office
    Property size:
    950 SF
    Lot size:
    0.46 Acres
    Added:
    May 13, 2026
    Days on Market:
    21
    Last Refresh:
    Jun 2 at 5:06 am

    Property Features for 21632 GREAT MILLS Road

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking
    4
    Parking features
    Parking Lot
    Standard status
    Active
    Size
    950 SF
    Lot size
    0.46 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Number of units
    8
    Building materials
    Block

    We can help!

    Listing Contact
    Kenneth W Phipps

    Listing agent Kenneth W Phipps License #532258

    Listing office CENTURY 21 New Millennium 5010 Regency Place unit: 100, Gainesville, MD

    Listing date May 13, 2026

    MLS# MDSM2030808

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington Park
    County
    St. Mary's
    State
    Maryland
    Longitude
    -76.46301
    Latitude
    38.26123

    Nearby Similar for Lease

    • $3 SF/Yr
      1,100 SF

      Retail Space on Great Mills

      Retail space in high-traffic area with strong exposure.
      21640 GREAT MILLS Rd, Lexington Park, MD 20653
      View Details
    • $1,600/Mo

      Office Space on Route 235

      Small office space with ample parking and high visibility.
      22598 THREE NOTCH Rd, Lexington Park, MD 20653
      View Details
    • $18 SF/Yr
      22,000 SF

      22,000 SF Retail Building

      22,000 SF retail building for lease on 1.3 acres.
      22654 Three Notch Rd, Lexington Park, MD
      View Details
    • $1,000/Mo

      Renovated Office Space with Visibility

      Renovated office space with road frontage, signage, and ample parking.
      21394 Great Mills Rd, LEXINGTON PARK, MD, 20653-2329
      View Details
    • Contact for pricing
      7,750 SF

      High-Visibility Endcap Space For Sale

      7,750 SF endcap with pylon sign on Three Notch Road.
      22664 Three Notch Rd, Lexington Park, MD 20653
      View Details
    • Contact for pricing
      10,500 SF

      Lexington Park Office Suites

      Two 10,500 SF office suites for lease.
      46611-46621 Corporate Dr, Lexington Park, MD 20653
      View Details
    • $6 SF/Yr
      22,000 SF

      Retail Space in Lexington Park

      22000 SF retail property available for lease.
      21600 Great Mills Rd, Lexington Park, MD
      View Details
    • Contact for pricing
      16,906 SF

      Plug and Play Office Space

      Single story office near Naval Air Station Patuxent River.
      46950 Bradley Blvd, Lexington Park, MD
      View Details
    • Contact for pricing
      2,050 SF

      Retail Space Near Great Mills

      New retail development near Great Mills Road, available Q2 2023.
      0 Great Mills Rd, Lexington Park, MD
      View Details
    • $1,200/Mo

      Retail Space Ready for Occupancy

      Retail space suitable for a hair salon or barber shop.
      21640 N ESSEX DRIVE, LEXINGTON PARK, MD 20653
      View Details
    • Contact for pricing

      Mixed-Use Retail Near Naval Station

      Retail space near Route 235 and Patuxent River Naval Station.
      21800 N Shangri-La Dr, Lexington Park, MD 20653
      View Details

    FAQs

    Where is this office units located?
    The property is located at 21632 GREAT MILLS Road Lexington Park, MD.
    What is the lease rate?
    The lease rate is $1,800 /Mo.
    (301) 752-3179
    We can help!
    Listing Contact
    Kenneth W Phipps
    Real Estate License ID: 532258
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21632 GREAT MILLS Road, LEXINGTON PARK, MD 20653
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!