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Property profile & analytics
OFF-MARKET
Estimated value
$3,840,000
Commercial land
170 Armory N Rd, Prince Frederick, MD 20678-4170
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-1221481
Property summary
AI-generated overview
This brand-new, 8,400 square foot retail center in Calvert County, MD, is opening Spring 2025. Located in the heart of Armory Square, this development offers multiple tenancy options, perfect for medical practices or office spaces. Five spaces are currently available, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 6,000 square feet. The building is under construction and boasts a prime location alongside established national retailers. Your business will benefit from the high visibility and foot traffic generated by neighboring tenants including Aldi, Dash-IN, Michaels, Ace Hardware, First Watch, Jersey Mike's, Foster's Grille, Playa Bowls, and Hangry Joe's. This is an exceptional opportunity to establish a presence in a thriving retail environment within a newly constructed building. The flexible space options allow for customization to suit various business needs. Don't miss this chance to be part of a vibrant and growing community. Contact us today to learn more about leasing opportunities and secure your space in this exciting new development. The building was constructed in 2024.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
1.8 ac (78,408 SF)
Zoning code
TC
APN
02-118483
UPID
US40-1221481
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
$3.21M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.84M
Owner & transaction history
Armory Square LLC · 3 yrs held
Armory Square LLC
since 2022
Last sale
$3.9M
1 recorded transaction
Zoning & alternative use
TC · Prince Frederick, 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 Prince Frederick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Prince Frederick 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
$3,770,000
ML approach
$3,210,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.84M
Range $3.46M – $4.22M · ±10% · vs last sale $3.87M (Oct 24 2022)
Last sale anchor
$3.87M
Oct 24 2022
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
—
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
$784
Tax year 2023
Assessed value
$75,500
Assessed 2023
Previous assessed
$75,500
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$75,500
Land market value
$75,500
Total market value
$75,500
Applied tax rate
2.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
1.8 ac (78,408 SF)
Zoning code
TC
APN
02-118483
UPID
US40-1221481
Jurisdiction
CALVERT
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
TC · Prince Frederick, MD
Zoning TC · permitted uses
TC · Prince Frederick, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Prince Frederick. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
1.8 ac
Current owner
From public records · entity-resolved
Armory Square LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3150 W WARD RD STE #401, DUNKIRK, MD 20754-3058
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2022
$3,871,400
Armory Square LLC
County Commissioners Of Calvert Cou
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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