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Property profile & analytics
FOR LEASE
Office buildings
20400 Century Blvd, Germantown, MD 20874
Entity Owned
Free & Clear
Property ID
US40-1216701
For Lease
$16,425,000
20400 Century Blvd, Germantown, MD 20874
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Construction
BRICK
Total area
82,728 SF
Lot
5.52 ac (240,381 SF)
Zoning code
CR2.0
APN
02-03058963
UPID
US40-1216701
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
-
AglaeaPharma Corporate Office
-
Amador Bioscience Factory Production Facility
-
Barinthus Biotherapeutics North America, Inc Corporate Office
-
Cellicure Inc Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.59M
Comparable Approach
Comparable
$14.92M
Blend (final)
Blend
$16.43M
Owner & transaction history
Century Blvd Associates LLC
Century Blvd Associates LLC
since 2026
Last sale
$17.1M
4 recorded transactions
Zoning & alternative use
CR2.0 · Germantown, 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 Germantown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Germantown 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%
$17,975,000
6.5%
$16,590,000
7%
$15,405,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$26,240,000
Current use
WAREHOUSE, STORAGE
$25,890,000
Change: -1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$23,965,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$16.43M
Range $14.78M – $18.07M · ±10% · vs last sale $17.10M (Jan 6 2026)
Last sale anchor
$17.10M
Jan 6 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
$199 / 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
$80,062
Tax year 2022
Assessed value
$7,387,367
Assessed 2023
Previous assessed
$6,150,700
+20.1% YoY
Effective rate
1.08%
On assessed value
Land market value
$4,038,400
Improvement market value
$5,822,300
Total market value
$9,860,700
Applied tax rate
42.0000
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
For Lease
Year built
1995
Construction
BRICK
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
82,728 SF
Lot
5.52 ac (240,381 SF)
Zoning code
CR2.0
APN
02-03058963
UPID
US40-1216701
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CR2.0 · Germantown, MD
Zoning CR2.0 · permitted uses
CR2.0 · Germantown, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Germantown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$26.2M
WAREHOUSE, STORAGE
Est. value
$25.9M
COMMERCIAL (GENERAL)
Est. value
$24.0M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
COMMERCIAL (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
1995
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
5.52 ac
Current owner
From public records · entity-resolved
Century Blvd Associates LLC
Entity
Free & Clear · 0 yrs held
Mailing address
26 N EUCLID AVE, PASADENA, CA 91101-1961
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2026
$17,100,000
Century Blvd Associates LLC
Are Maryland No 52 LLC
Special Warranty Deed
—
Aug 25, 2021
$8,400,000
Are Maryland No 52 Holding LLC
Eb Germantown LLC
Special Warranty Deed
$8,600,000 · Are Maryland No 52 LLC
Feb 15, 2019
$6,284,511
Eb Germantown LLC
Government Prop Income Trust LLC
Grant Deed
—
May 15, 2009
—
Government Props Income Trust
Hub Realty Funding INC
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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