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Property profile & analytics
OFF-MARKET
Estimated value
$17,605,000
Grocery and convenience stores
18301 Leaman Farm Rd Gaithersburg, MD 20878
Individually Owned
2-yr Hold
Free & Clear
Property ID
US40-1332028
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
57,336 SF
Lot
10.36 ac (451,282 SF)
Zoning code
PD11
APN
06-03236084
UPID
US40-1332028
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
$17.61M
Owner & transaction history
Joann D Calomiris · 2 yrs held
Joann D Calomiris
since 2024
4 recorded transactions
Zoning & alternative use
PD11 · Gaithersburg, 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 Gaithersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gaithersburg 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
INDUSTRIAL (GENERAL)
$27,320,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$17.61M
Range $15.84M – $19.37M · ±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
$307 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$280,140
Tax year 2022
Assessed value
$21,345,133
Assessed 2023
Previous assessed
$21,345,133
+0.0% YoY
Effective rate
1.31%
On assessed value
Land market value
$8,664,500
Improvement market value
$12,787,100
Total market value
$21,451,600
Applied tax rate
61.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
57,336 SF
Lot
10.36 ac (451,282 SF)
Zoning code
PD11
APN
06-03236084
UPID
US40-1332028
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
PD11 · Gaithersburg, MD
Zoning PD11 · permitted uses
PD11 · Gaithersburg, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gaithersburg. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$27.3M
INDUSTRIAL (GENERAL)
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
10.36 ac
Current owner
From public records · entity-resolved
Joann D Calomiris
Individual
Free & Clear · 2 yrs held
Mailing address
11000 COASTAL HWY UNIT #912, OCEAN CITY, MD 21842-7994
Ownership since
2024
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
Jan 29, 2024
—
Joann D Calomiris
Nicholas J Deoudes
Intrafamily Transfer
related
—
Jan 12, 2024
—
Nicholas J Deoudes
Nicholas J Deoudes
Deed Of Distribution
related
—
—
—
Kingsview Shopping Center LLC
—
Deed Of Trust
related
$7,200,000 · John Hancock Life Insurance Co
—
—
Michael I Sanders Trustee
—
Deed Of Trust
related
$15,300,000 · Gfs Realty INC
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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