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Property profile & analytics
OFF-MARKET
Estimated value
$19,760,000
Office buildings
2 Choke Cherry Rd, Rockville, MD 20850-4063
Entity Owned
Free & Clear
Property ID
US40-1420887
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
BRICK
Total area
93,000 SF
Lot
7.03 ac (306,387 SF)
Zoning code
I3
APN
04-00145040
UPID
US40-1420887
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
Current use
Occupant on record · Public records
-
Surgery Center of Rockville Medical Clinic Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.65M
Comparable Approach
Comparable
$13.49M
Blend (final)
Blend
$19.76M
Owner & transaction history
Toll Mid Atlantic LP Company INC
Toll Mid Atlantic LP Company INC
since 2026
Last sale
$24.7M
7 recorded transactions
Zoning & alternative use
I3 · Rockville, 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 Rockville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockville 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
$26,880,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,205,000
6.5%
$18,650,000
7%
$17,320,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$28,635,000
Current use
WAREHOUSE, STORAGE
$23,600,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$19.76M
Range $17.78M – $21.74M · ±10% · vs last sale $24.65M (Feb 12 2026)
Last sale anchor
$24.65M
Feb 12 2026
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
$212 / 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
$125,434
Tax year 2022
Assessed value
$8,236,200
Assessed 2023
Previous assessed
$8,236,200
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$4,142,300
Assessed improvement
$4,093,900
Land market value
$4,142,300
Improvement market value
$4,093,900
Total market value
$8,236,200
Applied tax rate
12.0000
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
Off-Market
Year built
1968
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
93,000 SF
Lot
7.03 ac (306,387 SF)
Zoning code
I3
APN
04-00145040
UPID
US40-1420887
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
I3 · Rockville, MD
Zoning I3 · permitted uses
I3 · Rockville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$28.6M
WAREHOUSE, STORAGE
Est. value
$23.6M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1968
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
7.03 ac
Current owner
From public records · entity-resolved
Toll Mid Atlantic LP Company INC
Entity
Free & Clear · 0 yrs held
Mailing address
800 BOYLSTON ST STE #1900, BOSTON, MA 02199-8101
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2026
$24,650,000
Toll Mid Atlantic LP Company INC
Bxp Shady Grove Lot 5 LLC
Special Warranty Deed
—
Aug 16, 2021
$23,668,076
Bxp Shady Grove Lot 6 LLC
Grove Rockville 31 II LLC
Special Warranty Deed
—
Jan 15, 2020
—
Grove Rockville 31 LLC
—
Deed
related
$48,728,813 · Eagle Bk
Aug 21, 2018
—
Grove Rockville 31 LLC
—
Loan Modification
related
$47,760,350 · Eagle Bk
Sep 3, 2015
$1,880,000
Lantian/1788/shady Grove 31 II LLC
Ta/western LLC
Special Warranty Deed
—
Oct 20, 1998
$50,637,500
Ta/western LLC
Equitable Life Assurance Socie
Grant Deed
$50,600,000 · Western Conference Of Teamster
—
—
Grove Rockville 31 LLC
—
Loan Modification
related
$48,728,813 · Eagle Bk
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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