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    Property profile & analytics

    12024 Cherry Hl Rd Calverton, MD 20904

    • Retail properties
    • 86,835 SF
    • 7.34 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1511629
    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

    • ChargePoint Charging Station / Electric Vehicle Charging Station
    • Kohl's / Department Store
    • SEPHORA at Kohl's / Beauty Supply Store / Perfume Store

    Property Details for 12024 Cherry Hl Rd

    Year built
    1998
    Construction
    BRICK
    Lot size
    7.34 lot acres
    Property size
    86,835 SF
    Zone code
    CR0.7
    Property type
    Retail properties
    APN
    05-03204556
    APU
    503204556

    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
    Silver Spring
    County
    Montgomery
    State
    Maryland
    Longitude
    -76.9562
    Latitude
    39.054
    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
    $116,685
    $0.00
    $0.00
    $8,173,433
    -
    $5,755,100
    $3,271,600
    $9,026,700

    Comparable in this City

    • Value Estimation by Request
      175,520 SF

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    • Value Estimation by Request
      1,750 SF

      11407 Lockwood Dr

      CONVENIENCE STORE • 1,750 SF
      11407 Lockwood Dr, Silver Spring, MD 20904-2610
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    • Value Estimation by Request
      2,923 SF

      13335 New Hampshire Ave

      SERVICE STATION (FULL SERVICE) • 2,923 SF
      13335 New Hampshire Ave, Silver Spring, MD 20904-3435
      View Details
    • Value Estimation by Request
      3,391 SF

      11150 New Hampshire Ave

      SERVICE STATION (FULL SERVICE) • 3,391 SF
      11150 New Hampshire Ave, Silver Spring, MD 20904-2604
      View Details
    • Value Estimation by Request
      3,834 SF

      12044 Cherry Hl Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,834 SF
      12044 Cherry Hl Rd, Silver Spring, MD 20904-1985
      View Details
    • Value Estimation
      $325,000
      199 SF

      13405 Shady Knl Drg25

      RESIDENTIAL PARKING GARAGE • 199 SF
      13405 Shady Knl Drg25, Silver Spring, MD 20904-7728
      View Details

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    Similar Nearby for Lease

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      Retail space available in renovated Silver Spring shopping center.
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      5,854 SF

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      Grocery-anchored retail development with strong demographics and high traffic.
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      3,882 SF

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      Retail space with open floor plans, convenient location.
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      1,800 SF

      Retail Space in Montgomery County

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      141,816 SF

      Prime Retail Space in Silver Spring

      High-visibility retail opportunity in a densely populated, affluent area.
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    • $4 SF/Yr
      220,253 SF

      Retail Space for Lease

      Retail property available for lease in Silver Spring, Maryland.
      12008 Cherry Hill Rd, Silver Spring, MD 20904
      View Details

    Property Visit Statistics

    • Visits by month
      119.5k
    • Visitors by month
      65.5k
    • Avg Time on site
      25 min
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    12024 Cherry Hl Rd
    Calverton, MD 20904
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    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
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