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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12028 Cherry Hl Rd Silver Spring, MD 20904-1985

    • Grocery and convenience stores
    • 65,750 SF
    • 5.52 lot acres
    OFF-MARKET
    Last Sale
    Jun 16, 2022
    $28,325,000
    Value Estimations
    $27,885,000
    Show details
    Cap Rate Potential
    5.3%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US40-0199605
    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

    • ShopRite of White Oak, MD / Grocery & Convenience Store / Food Market
    • Jeanette N. Angeh, RPH / Pharmacy
    • higi / Medical Clinic
    • Coinstar Kiosk - Bitcoin ATM / Atm / Currency Exchange Service
    • ShopRite Pharmacy of White Oak, MD / Pharmacy

    Property Details for 12028 Cherry Hl Rd

    Year built
    1999
    Construction
    BRICK
    Lot size
    5.52 lot acres
    Property size
    65,750 SF
    Zone code
    CR0.7
    Property type
    Grocery and convenience stores
    APN
    05-03206167
    APU
    503206167

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $28,310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $25,185,000
      6.5%
      $23,250,000
      7%
      $21,585,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $31,209,000
      Market price range: $15.4M - $43.8M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $29,085,000
      Current use
      INDUSTRIAL (GENERAL)
      $31,330,000
      Change: +8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $25,495,000
      Change: -12% Conversion: Easy

    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
    39.055
    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
    $220,696
    $0.00
    $0.00
    $19,639,633
    -
    $4,320,200
    $23,458,700
    $27,778,900

    Comparable in this City

    • Value Estimation
      $21,820,000
      43,266 SF

      13440 New Hampshire Ave

      GROCERY, SUPERMARKET • 43,266 SF
      13440 New Hampshire Ave, Silver Spring, MD 20904-1224
      View Details
    • Value Estimation
      $790,000
      1,750 SF

      11407 Lockwood Dr

      CONVENIENCE STORE • 1,750 SF
      11407 Lockwood Dr, Silver Spring, MD 20904-2610
      View Details
    • Value Estimation
      $870,000
      2,200 SF

      11303 Lockwood Dr

      CONVENIENCE STORE • 2,200 SF
      11303 Lockwood Dr, Silver Spring, MD 20904-2608
      View Details
    • Value Estimation
      $5,165,000
      3,650 SF

      12251 Tech Rd, Unit 12293

      FINANCIAL BUILDING • 3,650 SF
      12251 Tech Rd, Silver Spring, MD 20904-1901
      View Details
    • Value Estimation
      $665,000
      1,320 SF

      11800 Cherry Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,320 SF
      11800 Cherry Hl Rd, Silver Spring, MD 20904-7827
      View Details
    • Value Estimation
      $2,015,000
      4,000 SF

      55 Randolph Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      55 Randolph Rd, Silver Spring, MD 20904-1209
      View Details

    Similar Nearby for Sale

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    • $580,000

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      Specialty property available for sale on Calverton Blvd.
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      Silver Spring Specialty Property

      Specialty property available for sale in Silver Spring, MD.
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    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Space in Montgomery County

      Grocery-anchored retail development with strong demographics and high traffic.
      12345 Old Columbia Pike, Silver Spring, MD 20904
      View Details
    • Contact for pricing
      3,882 SF

      Retail Space in Montgomery Park

      Retail space with open floor plans, convenient location.
      11800-11801 Tech Rd, Silver Spring, MD 20904
      View Details
    • Contact for pricing
      5,854 SF

      Retail Space in Montgomery County

      Grocery-anchored retail development with strong demographics and high traffic.
      12345 Columbia Pike, Silver Spring, MD 20904
      View Details
    • Contact for pricing
      2,400 SF

      Renovated Shopping Center Retail Space

      Retail space available in renovated Silver Spring shopping center.
      13808 Outlet Dr, Silver Spring, MD 20904
      View Details
    • $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
    • Contact for pricing
      141,816 SF

      Prime Retail Space in Silver Spring

      High-visibility retail opportunity in a densely populated, affluent area.
      11255 New Hampshire Ave, Silver Spring, MD 20904
      View Details

    Property Visit Statistics

    • Visits by month
      117.9k
    • Visitors by month
      66.3k
    • Avg Time on site
      23 min
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    Silver Spring, MD 20904-1985
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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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