Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    12 S Summit Ave Gaithersburg, MD 20877

    • Residential income homes
    • 1,702 SF
    • 0.20 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1071845
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Better Books 360 / Big Box & Wholesale Store / Media Distribution
    • Care Systems / (Bike/Boat/Book/etc) Store / Corporate Office
    • Spectrum Technology Group Inc / (Bike/Boat/Book/etc) Store / Corporate Office
    • Ariadne / (Bike/Boat/Book/etc) Store / Corporate Office
    • IPLANS America LLC / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 12 S Summit Ave

    Year built
    1911
    Construction
    BRICK
    Lot size
    0.20 lot acres
    Property size
    1,702 SF
    Zone code
    CBD
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    09-00835364
    APU
    900835364

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gaithersburg
    County
    Montgomery
    State
    Maryland
    Longitude
    -77.1935
    Latitude
    39.1426
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $12,686
    $214,400
    $736,500
    $950,900
    -
    $214,400
    $736,500
    $950,900

    Comparable in this City

    • Value Estimation by Request
      0.26 Acres

      109 Chestnut St

      APARTMENT HOUSE (UNDER 5 UNITS) • 0.26 Acres
      109 Chestnut St, Gaithersburg, MD 20877-2101
      View Details
    • Value Estimation
      $580,000
      780 SF

      403 Diamond Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 780 SF
      403 Diamond Ave, Gaithersburg, MD 20877-3019
      View Details
    • Value Estimation
      $820,000
      3,798 SF

      119 Frederick Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,798 SF
      119 Frederick Ave, Gaithersburg, MD 20877-2441
      View Details
    • Value Estimation
      $795,000
      3,490 SF

      16 Diamond Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,490 SF
      16 Diamond Ave, Gaithersburg, MD 20877-3020
      View Details
    • Value Estimation
      $1,410,000
      9,966 SF

      214 Brookes Ave

      APARTMENT HOUSE (5+ UNITS) • 9,966 SF
      214 Brookes Ave, Gaithersburg, MD 20877-2958
      View Details
    • Value Estimation
      $2,820,000
      24,948 SF

      57 Casey Ct

      APARTMENT HOUSE (5+ UNITS) • 24,948 SF
      57 Casey Ct, Gaithersburg, MD 20877-1701
      View Details

    Similar Nearby for Sale

    • $379,990

      Renovated Townhome in Newport Estates

      Well-maintained townhome with renovated kitchen, new roof, and five bedrooms.
      10 Brian Ct, Gaithersburg, MD 20877
      View Details
    • Contact for pricing

      Updated Apartment with Modern Amenities

      Renovated 3-bedroom unit with new appliances and stylish upgrades.
      112 Duvall Ln Ln, Gaithersburg, MD 20877
      View Details
    • $75,000
      0.63 Acres

      Established Gaithersburg Auto Repair Shop

      Profitable business, great location, equipment included.
      Gaithersburg, MD 20877
      View Details
    • Contact for pricing
      57,934 SF

      Mixed-Use Redevelopment Opportunity

      Mixed-use redevelopment opportunity in Old Towne Gaithersburg, Montgomery County, MD.
      206-226 E Diamond Ave, Gaithersburg, MD 20877
      View Details
    • $599,500

      Charming Townhome in Hidden Creek

      Three-bedroom townhome with finished basement, two-car garage, and premium lot.
      765 Raven Ave, Gaithersburg, MD 20877
      View Details
    • $449,000

      Renovated Townhouse in Foxwood Community

      Newly renovated townhouse in Gaithersburg's desirable Foxwood community.
      110 Middle Point Ct, Gaithersburg, MD 20877
      View Details

    Similar Nearby for Lease

    • $3,350 /Mo

      Upgraded Townhouse with Car Charger

      Light-filled 3-bedroom townhouse with upgrades and convenient location.
      638 Cobbler Pl, Gaithersburg, MD 20877
      View Details
    • Contact for pricing
      12,613 SF

      Secured Outdoor Storage Opportunity

      Secure outdoor storage space in established industrial area with highway access.
      16783 Oakmont Ave, Gaithersburg, MD 20877
      View Details
    • Contact for pricing
      3,993 SF

      Modern Office Space For Rent

      Office space with efficient layout and free garage parking.
      12 S Summit Ave, Gaithersburg, MD 20877
      View Details
    • $16 SF/Yr
      15,320 SF

      Industrial Space for Lease

      Industrial property available for lease at $16.50 per square foot.
      16010 Industrial Dr, Gaithersburg, MD 20877
      View Details
    • Contact for pricing
      980 SF

      Gaithersburg Office Space Available

      Office space for rent in a convenient Gaithersburg location.
      424 N Frederick Ave, Gaithersburg, MD 20877
      View Details
    • Contact for pricing
      19,254 SF

      Gaithersburg Warehouse with Office Space

      Warehouse space with high-end office buildout, available 3/1/2026.
      8300-8322 Helgerman Ct, Gaithersburg, MD 20877
      View Details

    Property Visit Statistics

    • Visits by month
      12.6k
    • Visitors by month
      12.3k
    • Avg Time on site
      5 min
    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.
    12 S Summit Ave
    Gaithersburg, MD 20877
    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.