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

    1701 Rockville Pike Rockville, MD 20852

    • Community centers
    • 26,357 SF
    • 5.04 lot acres
    For Lease
    View listing
    $45 SF/Yr
    Last Sale
    Feb 08, 2023
    Value Estimations
    $1,515,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1362779
    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

    • The Shops at Congressional Village / Shopping Center & Mall
    • Laura Alexa Studio / Hair Salon
    • Divine Eyebrow Threading / Hair Salon / Nail Salon
    • SuperNova style salon / Hair Salon
    • Tiny HeadQuarters Salon / Hair Salon

    Property Details for 1701 Rockville Pike

    Year built
    1953
    Construction
    BRICK
    Lot size
    5.04 lot acres
    Property size
    26,357 SF
    Zone code
    MXCD
    Property type
    Community centers
    APN
    04-03395627
    APU
    403395627

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,682,000
      Market price range: $564k - $1.68M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,025,000
      Current use
      MEDICAL BUILDING
      $1,750,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $1,680,000
      Change: +64% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockville
    County
    Montgomery
    State
    Maryland
    Longitude
    -77.124
    Latitude
    39.0607
    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
    $348,913
    $7,631,200
    $17,348,000
    $24,979,200
    -
    $7,631,200
    $17,348,000
    $24,979,200

    Comparable in this City

    • Value Estimation by Request
      9,157 SF

      1327 Rockville Pike

      MINI-MALL • 9,157 SF
      1327 Rockville Pike, Rockville, MD 20852-1431
      View Details
    • Value Estimation
      $2,835,000
      114,839 SF

      815 Rockville Pike

      MINI-MALL • 114,839 SF
      815 Rockville Pike, Rockville, MD 20852-1261
      View Details
    • Value Estimation
      $8,220,000
      230,474 SF

      1601 Rockville Pike

      MINI-MALL • 230,474 SF
      1601 Rockville Pike, Rockville, MD 20852-1610
      View Details
    • Value Estimation
      $18,000,000
      83,990 SF

      12205 Nebel St

      MINI-MALL • 83,990 SF
      12205 Nebel St, Rockville, MD 20852-2613
      View Details
    • Value Estimation by Request
      8,120 SF

      149 Rollins Ave

      MINI-MALL • 8,120 SF
      149 Rollins Ave, Rockville, MD 20852-4046
      View Details
    • Value Estimation
      $18,000,000
      81,243 SF

      12101 Rockville Pike

      MINI-MALL • 81,243 SF
      12101 Rockville Pike, Rockville, MD 20852-1605
      View Details

    Similar Nearby for Sale

    • $195,000

      Ice Cream, Coffee & Bakery

      Ice Cream, Coffee & Bakery Shop in Rockville, Maryland.
      1066 Rockville Pike, Rockville, MD 20852
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      Rockville Parking Space For Sale

      Separately deeded parking space; ownership requires unit in building.
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    • $1,790,000
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      North Bethesda Retail Investment Opportunity

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    • $1,649,000

      Development Opportunity Near White Flint Metro

      20,958 sq. ft. CRN-zoned property near White Flint Metro.
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      9,240 SF

      Rockville Office Building For Sale

      Two-story, 9,240 SF office building in Rockville, Maryland.
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    • $990,000

      Top Floor Rockville Office Condo

      6,320 SF office condo in Tower Oaks Professional Park.
      3200 Tower Oaks Blvd, Rockville, MD 20852
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    Similar Nearby for Lease

    • Contact for pricing
      899 SF

      Retail Space in Federal Plaza

      Retail space available in Rockville's Federal Plaza shopping center.
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      View Details
    • Contact for pricing
      1,718 SF

      Retail Space in Montrose Crossing

      Retail space available in Rockville Pike shopping center.
      12021 Rockville Pike, Rockville, MD 20852
      View Details
    • Contact for pricing
      1,981 SF

      Retail Space in Federal Plaza

      Retail space available within a large shopping center complex.
      1776 E Jefferson St, Rockville, MD 20852
      View Details
    • Contact for pricing
      6,341 SF

      Retail Space in Montrose Crossing

      Retail space available in Rockville's Montrose Crossing shopping center.
      12015 Rockville Pike, Rockville, MD 20852
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    • Contact for pricing
      4,208 SF

      Retail/Flex Spaces For Lease

      Retail and flex spaces available in grocery anchored center.
      5530-5638 Randolph Rd, Rockville, MD 20852
      View Details
    • Contact for pricing
      7,112 SF

      Dominant Retail Center on Rockville

      Community shopping center in Montgomery County, Maryland, for lease.
      12103-12147 Rockville Pike, Rockville, MD 20852
      View Details
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    Rockville, MD 20852
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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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