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Property profile & analytics
OFF-MARKET
Estimated value
$25,470,000
Apartment buildings
11431 Lockwood Dr Silver Spring, MD 20904-2681
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0341635
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1965
Total area
106,800 SF
Lot
5.17 ac (225,205 SF)
Zoning code
R20
APN
05-00282448
UPID
US40-0341635
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
-
Oluyemisi Adeyemi Home Health Care Service
-
The Lockwood Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.13M
Comparable Approach
Comparable
$22.41M
Blend (final)
Blend
$25.47M
Owner & transaction history
Smp Lockwood Spe LLC · 4 yrs held
Smp Lockwood Spe LLC
since 2021
Last sale
$26.6M
5 recorded transactions
Zoning & alternative use
R20 · Silver Spring, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$41.4M
+26.1%
Office building
$35.3M
+7.4%
Warehouse, storage
$33.4M
+1.8%
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
$30,210,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$29,390,000
6.5%
$27,130,000
7%
$25,190,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$32,840,000
Current use
COMMERCIAL (GENERAL)
$41,410,000
Change: +26% · Conversion: Moderate
OFFICE BUILDING
$35,280,000
Change: +7% · Conversion: Moderate
WAREHOUSE, STORAGE
$33,425,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$25.47M
Range $22.92M – $28.02M · ±10% · vs last sale $26.60M (Sep 23 2021)
Last sale anchor
$26.60M
Sep 23 2021
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
$238 / 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
$175,712
Tax year 2022
Assessed value
$17,727,933
Assessed 2023
Previous assessed
$17,727,933
+0.0% YoY
Effective rate
0.99%
On assessed value
Land market value
$3,242,900
Improvement market value
$19,383,300
Total market value
$22,626,200
Applied tax rate
42.0000
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
1965
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
3
Units
111
Total area
106,800 SF
Lot
5.17 ac (225,205 SF)
Zoning code
R20
APN
05-00282448
UPID
US40-0341635
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
R20 · Silver Spring, MDZoning R20 · permitted uses
R20 · Silver Spring, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$32.8M
COMMERCIAL (GENERAL)
Est. value
$41.4M
OFFICE BUILDING
Est. value
$35.3M
WAREHOUSE, STORAGE
Est. value
$33.4M
APARTMENT HOUSE (5+ UNITS) Current
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
1965
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
111
Lot
5.17 ac
Current owner
From public records · entity-resolved
Smp Lockwood Spe LLC
Entity
Mailing address
8120 WOODMONT AVE STE #520, BETHESDA, MD 20814-2760
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2021
$26,600,000
Smp Lockwood Spe LLC
Ap White Oak Park LLC
Special Warranty Deed
$18,620,000 · Jll Real Estate Capital LLC
Sep 24, 2018
$15,600,000
Ap White Oak Park LLC
White Oak Park LLC
Grant Deed
$14,667,000 · Holliday Fenoglio Fowler
Apr 1, 1999
$4,300,000
White Oak Park LLC
Lennar Atlantic Md Qa LP
Grant Deed
$3,498,300 · Ami Capital INC
Jul 30, 1997
$4,945,158
Atlantic LP Lennar Md
White Oak Enterprises LP
Grant Deed
—
Jul 30, 1997
$3,900,000
Lennar Atlantic Md Q A Ltd Ptns
White,oak Apartm
Grant Deed
—
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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