Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    20944 Frederick Rd Germantown, MD

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space adjacent to Milestone Center with major retailers.

    Type:RETAIL
    Property size:
    1,641 SF
    Lot size:
    10.76 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    128
    Last Refresh:
    Mar 29 at 9:46 pm

    Property Features for 20944 Frederick Rd

    General Information

    Standard status
    Active
    Size
    1,641 SF
    Lot size
    10.76 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Kristy Inman

    Listing agent Kristy Inman

    Listing office Edens - Corporate

    Listing date Nov 24, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Edens - Corporate

    Overview

    Retail Space Near Milestone Center

    This 1,641 square foot retail space is located on Frederick Road in Germantown, Montgomery County, Maryland. The location benefits from traffic counts exceeding 35,000 cars per day. The property is adjacent to the 760,000 square foot Milestone Center, which includes Home Depot, Target, Wal-Mart, Kohl's, and Best Buy. Major retailers in the immediate vicinity include Giant Food, ULTA, and Starbucks. Montgomery County is the most populous jurisdiction in Maryland.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coinstar Kiosk Bank LibertyX Bitcoin ATM Atm First National Bank ... Atm Neelsville Village Center Shopping Center & Mall KeyMe Locksmiths Locksmith

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • The Shops At Seneca Meadows — 20640 Seneca Meadows Pkwy, Germantown, MD 20876
    • Coinstar Kiosk | Bitcoin ATM — Giant Landover, 20944 Frederick Rd, Germantown, MD 20876
    • Coinstar Kiosk — giant landover, 20944 frederick rd, germantown, md 20876
    • Milestone Shopping Center — 20900 Frederick Rd, Germantown, MD 20876
    • Seneca Meadows — Germantown, MD 20876

    Location Insight

    • Map
    • Local Demand
    City
    Germantown
    County
    Montgomery
    State
    Maryland
    Longitude
    -77.2477
    Latitude
    39.2032

    Nearby Similar for Lease

    • Contact for pricing

      Germantown Retail Space For Lease

      Highly visible commercial building with unbeatable exposure and ample parking.
      19201 FREDERICK Road, GERMANTOWN, MD 20876
      View Details
    • Sponsored
      Contact for pricing

      Milestone Business Park

      12410 Milestone Center Dr, Unit 600, Germantown, MD 20876
      View Details
    • Contact for pricing

      Germantown Freestanding Bank Branch

      Freestanding bank branch with drive-thru in Germantown, Maryland.
      19501 N Frederick Rd, Germantown, MD,
      View Details
    • Contact for pricing

      High-Visibility Retail Space Available

      Flexible retail space with ample parking and high street exposure.
      19201 Frederick Rd, GERMANTOWN, MD 20876
      View Details
    • $18/mo

      Germantown Flex / Industrial Space

      Flex and industrial space available for lease in Germantown.
      13220 Wisteria Dr, Germantown, MD
      View Details
    • Contact for pricing

      Germantown Retail Space Available

      Retail space available in Germantown Commons shopping center.
      13038 Middlebrook Rd, Germantown, MD
      View Details
    • Contact for pricing

      Germantown Retail Anchor Space Available

      115,203 SF neighborhood center with anchor space available for lease.
      19651 Frederick Rd, Germantown, MD
      View Details
    • Contact for pricing

      Germantown Retail Space with Drive-Thru

      Former bank branch with drive-thru on a corner lot.
      19501 N Frederick Road, Germantown, MD 20876
      View Details
    • Contact for pricing

      Germantown Office Space For Rent

      Centrally located office space in affluent Germantown market.
      18008-18050 Mateny Rd, Germantown, MD
      View Details
    • Contact for pricing

      Retail Space Available in Germantown

      1,374 SF retail space for rent in Germantown, MD.
      9718 Germantown Rd, Germantown, MD 20874
      View Details
    • $22/mo

      Modern Office Space Available

      Built-out office space for lease with easy highway access.
      13135 Winged Foot Ln, Germantown, MD
      View Details
    • Contact for pricing

      Office Space with Natural Light

      Office space featuring natural light, kitchenette, and ramp access.
      19809 Executive Park Cir, Germantown, MD 20874
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space adjacent to Milestone Center with major retailers.
    Where is this shopping center located?
    The property is located at 20944 Frederick Rd Germantown, MD.
    What are key features of this property?
    This property features: Adjacent to **760,000 SF Milestone Center** anchored by Home Depot, Target, Wal‑Mart, Kohl's, and Best Buy; Located in Montgomery County, the most populous jurisdiction in Maryland; Major retailers on‑site: Giant Food, ULTA, Starbucks
    (202) 902-2600
    We can help!
    Listing Contact
    Kristy Inman
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!