Entity Owned 
For Lease
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Contact for pricing
1801 Research Blvd, Rockville, MD 20850
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Property summary
AI-generated overview
The property at 1801–1803 Research Boulevard consists of two office buildings and is configured to provide office space suitable for corporate or business use. It totals 48,107 square feet of space across the two buildings and features contemporary interior finishes, including a lobby that has undergone renovation. The building is described as having an amenity-rich environment and abundant natural light, supporting a workday-oriented office setting.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Construction
BRICK
Total area
151,935 SF
Lot
6.13 ac (267,022 SF)
Zoning code
MXE
APN
04-02680863
UPID
US40-1049222
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Construction Company General Contractor
-
Loan Service Bank
-
Advertising Agency Marketing & Advertising
-
Construction Company
-
Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$30.47M
Comparable Approach
Comparable
$22.05M
Blend (final)
Blend
$26.13M
Owner & transaction history
since 2025
Last sale
$26.0M
7 recorded transactions
Zoning & alternative use
MXE · Rockville, MD
Zoning description
ated in a similar manner as the primary building facades. All parking at the sides or rear must be screened to prevent vehicle headlights from shining into adjoining residential properties. c. Mixed-Use Employment Zone (…
General category
MIXED_USE
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$26.13M
Value range
$23.52M – $28.74M
±10% around blend
Estimated value / SF
$172 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
40
Income certainty
100
$23.52M
blend $26.13M
$28.74M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
151,935 SF
Lot area
6.13 ac
Stories
6
APN
04-02680863
Zoning
MXE
Assessed value
$17,403,200
Annual tax
$220,072
3
Income approach: direct capitalization
Partial preview
Income approach indication
$30.47M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$33.01M
@ 6.5% CAP return
$30.47M
@ 7% CAP return
$28.30M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$220,072
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$17.73M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.8 mi away · 114,606 SF
11.1 mi away · 140,244 SF
15.3 mi away · 153,941 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$26.13M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 46 sales
$308
-44%
Submarket 78 sales
$337
-49%
County 255 sales
$317
-46%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $172/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$868k
Move the market yield to see immediate price impact.
Value / SF
$6
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$55k
$1.09M
$781k
$607k
$61k
$1.21M
$868k
$675k
$67k
$1.34M
$954k
$742k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$20.25M
2.5 mi · Jan 2026 · $150/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$220,072
Tax year 2022
Assessed value
$17,403,200
Assessed 2023
Previous assessed
$15,307,900
+13.7% YoY
Effective rate
1.26%
On assessed value
Assessed land
$6,707,500
Assessed improvement
$10,695,700
Land market value
$6,707,500
Improvement market value
$10,695,700
Total market value
$17,403,200
Applied tax rate
12.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
6
Units
1
Total area
151,935 SF
Lot
6.13 ac (267,022 SF)
Zoning code
MXE
APN
04-02680863
UPID
US40-1049222
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
MXE · Rockville, MDZoning MXE · permitted uses
MXE · Rockville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
ated in a similar manner as the primary building facades. All parking at the sides or rear must be screened to prevent vehicle headlights from shining into adjoining residential properties. c. Mixed-Use Employment Zone (…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
6
Units
1
Lot
6.13 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MXE
MIXED_USE
Jurisdiction
Rockville, MD
Recorded code
MXE
Official district
MXE
Official district profile
What the municipal code says about MXE
Zoning description
ated in a similar manner as the primary building facades. All parking at the sides or rear must be screened to prevent vehicle headlights from shining into adjoining residential properties. c. Mixed-Use Employment Zone (…
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MXE in Rockville, MD.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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