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Property profile & analytics
OFF-MARKET
Estimated value
$80,050,000
Apartment buildings
11215 Georgia Ave R-1, Silver Spring, MD 20902-4644
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1553454
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2013
Total area
293,697 SF
Lot
18.06 ac (786,764 SF)
Zoning code
CR
APN
13-03680950
UPID
US40-1553454
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
-
ULTIMATE UNIVERSAL SPORTS LEAGUE Gym & Fitness Center
-
Zipcar Car Rental Facility
-
LVL 10 Lifestyle & Fitness University Gym & Fitness Center
-
Lux Media Consulting Advertising Agency Marketing & Advertising
-
Carlos Mosquera Painting Inc Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$72.91M
Blend (final)
Blend
$80.05M
Owner & transaction history
Fpa Wc Wheaton Station LLC · 4 yrs held
Fpa Wc Wheaton Station LLC
since 2021
2 recorded transactions
Zoning & alternative use
CR · Silver Spring, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$129.9M
+43.9%
Commercial (general)
$113.9M
+26.1%
Office building
$97.0M
+7.4%
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 Silver Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Silver Spring 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
APARTMENT HOUSE (5+ UNITS)
$90,305,000
Current use
RETAIL STORES
$129,930,000
Change: +44% · Conversion: Difficult
COMMERCIAL (GENERAL)
$113,875,000
Change: +26% · Conversion: Moderate
OFFICE BUILDING
$97,020,000
Change: +7% · Conversion: Moderate
WAREHOUSE, STORAGE
$91,920,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$80.05M
Range $72.05M – $88.06M · ±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
$273 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$1,089,888
Tax year 2022
Assessed value
$79,666,067
Assessed 2023
Previous assessed
$79,666,067
+0.0% YoY
Effective rate
1.37%
On assessed value
Land market value
$39,904,600
Improvement market value
$51,594,500
Total market value
$91,499,100
Applied tax rate
82.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2013
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
8
Units
336
Total area
293,697 SF
Lot
18.06 ac (786,764 SF)
Zoning code
CR
APN
13-03680950
UPID
US40-1553454
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CR · Silver Spring, MD
Zoning CR · permitted uses
CR · Silver Spring, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Silver Spring. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$90.3M
RETAIL STORES
Est. value
$129.9M
COMMERCIAL (GENERAL)
Est. value
$113.9M
OFFICE BUILDING
Est. value
$97.0M
WAREHOUSE, STORAGE
Est. value
$91.9M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2013
Heating
HOT WATER
Cooling
Yes
Stories
8
Units
336
Lot
18.06 ac
Current owner
From public records · entity-resolved
Fpa Wc Wheaton Station LLC
Entity
Mailing address
6191 N STATE HWY 161ST STE #100, IRVING, TX 75038-2290
Ownership since
2021
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
Oct 13, 2021
$135,100,000
Fpa Wc Wheaton Station LLC
Wheaton Metro Residential Holdings
Deed
related
$94,570,000 · Berkadia Commercial Mortgage LLC
Mar 8, 2018
—
Wheaton Metro Residl Holdings
—
Grant Deed
related
$90,000,000 · Landesbank Hessen Thueringen
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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