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Property profile & analytics
OFF-MARKET
Estimated value
$1,485,000
Warehouses
205 Najoles Rd Millersville, MD 21108-2532
Entity Owned
6-yr Hold
Free & Clear
Property ID
US40-1217633
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
BRICK
Total area
3,430 SF
Lot
4 ac (174,240 SF)
Zoning code
W2
APN
04-000-04348903
UPID
US40-1217633
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
-
Suburban Propane Propane Supplier Gas Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$1.49M
Owner & transaction history
Suburban Propane LP · 6 yrs held
Suburban Propane LP
since 2019
2 recorded transactions
Zoning & alternative use
W2 · Millersville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+50.2%
Auto repair, garage
$1.5M
+27.6%
Retail stores
$1.4M
+24.3%
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 Millersville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millersville 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
WAREHOUSE, STORAGE
$1,145,000
Current use
OFFICE BUILDING
$1,720,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,460,000
Change: +28% · Conversion: Easy
RETAIL STORES
$1,420,000
Change: +24% · Conversion: Moderate
MEDICAL BUILDING
$1,255,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,050,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.49M
Range $1.34M – $1.63M · ±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
$433 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$20,933
Tax year 2023
Assessed value
$1,916,900
Assessed 2023
Previous assessed
$1,836,400
+4.4% YoY
Effective rate
1.09%
On assessed value
Land market value
$933,400
Improvement market value
$1,144,500
Total market value
$2,077,900
Applied tax rate
4.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
BRICK
Heating
SPACE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
3
Total area
3,430 SF
Lot
4 ac (174,240 SF)
Zoning code
W2
APN
04-000-04348903
UPID
US40-1217633
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W2 · Millersville, MD
Zoning W2 · permitted uses
W2 · Millersville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millersville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1992
Construction
BRICK
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Units
3
Lot
4 ac
Current owner
From public records · entity-resolved
Suburban Propane LP
Entity
Free & Clear · 6 yrs held
Mailing address
240 STATE RTE 10, WHIPPANY, NJ 07981-2105
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2019
$2,075,000
Suburban Propane LP
Bonavita INC
Grant Deed
—
Jun 26, 1997
—
United Propane INC
Gas Oil Products
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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