New search
Property profile & analytics
FOR LEASE
Office buildings
1699 Millersville Rd, Millersville, MD 21108
Entity Owned
4-yr Hold
Free & Clear
Property ID
US40-0528801
For Lease
1 / 4
$730,000
1699 Millersville Rd, Millersville, MD 21108
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Total area
1,138 SF
Lot
7.05 ac (307,098 SF)
Zoning code
C2
APN
04-000-02220104
UPID
US40-0528801
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$730k
Owner & transaction history
State Highway Admin Of Md Dept Of T · 4 yrs held
State Highway Admin Of Md Dept Of T
since 2021
4 recorded transactions
Zoning & alternative use
C2 · Millersville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Millersville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millersville 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
OFFICE BUILDING
$570,000
Current use
AUTO REPAIR, GARAGE
$485,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$470,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$641 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$37,103
Tax year 2023
Assessed value
$3,397,667
Assessed 2023
Previous assessed
$3,393,300
+0.1% YoY
Effective rate
1.09%
On assessed value
Land market value
$3,172,500
Improvement market value
$233,900
Total market value
$3,406,400
Applied tax rate
4.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1930
Heating
RADIANT
Stories
1
Units
1
Bathrooms
1
Total area
1,138 SF
Lot
7.05 ac (307,098 SF)
Zoning code
C2
APN
04-000-02220104
UPID
US40-0528801
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C2 · Millersville, MD
Zoning C2 · permitted uses
C2 · Millersville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millersville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$485,000
RETAIL STORES
Est. value
$470,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1930
Heating
RADIANT
Stories
1
Units
1
Bathrooms
1
Lot
7.05 ac
Current owner
From public records · entity-resolved
State Highway Admin Of Md Dept Of T
Entity
Free & Clear · 4 yrs held
Mailing address
2568 RIVA RDA, ANNAPOLIS, MD 21401-7405
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2021
—
State Highway Admin Of Md Dept Of T
Millersville Partners LLC
Deed
—
May 30, 2013
$1,810,000
Millersville Partners LLC
Greer Dorothy J Trust
Grant Deed
$1,285,000 · Greer Dorothy J Living Trust
Feb 18, 2005
—
Greer Dorothy J Trust
Greer,dorothy J
Quit Claim Deed
related
—
—
—
Dorothy H Greer
—
Deed Of Trust
related
$50,000 · Allfirst Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
