Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    21882 F D R Blvd Lexington Park, MD 20653-5526
    Back to Search
    Property profile & analytics

    21882 F D R Blvd, Lexington Park, MD 20653-5526

    View on Map
    • Theaters & concert halls
    • 14,718 SF
    • 1.16 lot acres
    Off-Market
    Last Sale Jan 24, 2022
    $10,375,000
    Property ID
    US40-0845481
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $8,705,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Theaters & concert halls

    Property Details for 21882 F D R Blvd

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.16 lot acres
    Zone code
    C
    Property type
    Theaters & concert halls
    APN
    08-088446
    APU
    8088446

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 18, 2024 — Pax River Village Center LLC — Deed · related $9.6M · United Bank
    Jan 24, 2022 $10,375,000 Lexington Park Shopping Center LLC Patuxent Development Company INC Special Warranty Deed $9.6M · United Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,135,000
      ML approach
      $6,925,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lexington Park
    County
    St. Mary's
    State
    Maryland
    Longitude
    -76.459
    Latitude
    38.2679
    CBSA code
    15680
    CBSA name
    CALIFORNIA-LEXINGTON PARK, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,815
    $342,600
    $586,100
    $928,700
    -
    $342,600
    $586,100
    $928,700

    Comparable in this City

    • Value Estimation by Request
      3,495 SF

      18701 Hogaboom Ln

      AUDITORIUM
      18701 Hogaboom Ln, Lexington Park, MD 20653
      View Details
    • Value Estimation by Request
      0.19 Acres

      Great Mls Rd

      VACANT COMMERCIAL LAND
      Great Mls Rd, Lexington Park, MD 20653
      View Details
    • Value Estimation by Request
      21.67 Acres

      Forrest Run Dr

      VACANT COMMERCIAL LAND
      Forrest Run Dr, Lexington Park, MD 20653
      View Details
    • Value Estimation by Request
      0.21 Acres

      20185 Pt Lookout Rd

      VACANT COMMERCIAL LAND
      20185 Pt Lookout Rd, Lexington Park, MD 20653-3170
      View Details
    • Value Estimation by Request
      0.79 Acres

      21263 3rd Notch Rd

      VACANT COMMERCIAL LAND
      21263 3rd Notch Rd, Lexington Park, MD 20653
      View Details
    • Value Estimation
      $505,000
      3,037 SF

      22672 3rd Notch Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      22672 3rd Notch Rd, Lexington Park, MD 20653-2154
      View Details

    Similar Nearby for Sale

    • $399,000

      Restaurant in Lexington Village Center

      Highly-rated Korean & Japanese restaurant for sale near NAS Patuxent.
      46300 Lexington Village Way, Lexington Park, MD 20653
      View Details
    • $1,970,588

      Freestanding Dollar General in Lexington

      Single tenant Dollar General with zero landlord responsibilities.
      21179 Three Notch Rd, Lexington Park, MD 20653
      View Details
    • $399,000

      Restaurant in Lexington Village Center

      Highly-rated Korean & Japanese restaurant for sale near NAS Patuxent.
      46300 Lexington Village Way, Lexington Park, MD 20653
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,750 SF

      High-Visibility Endcap Space For Sale

      7,750 SF endcap with pylon sign on Three Notch Road.
      Lexington, Lexington Park, MD 20653
      View Details
    • Contact for pricing

      Renovated Office Space with Visibility

      Renovated office space with road frontage, signage, and ample parking.
      21394 Great Mills Rd, Lexington Park, MD 20653
      View Details
    • Contact for pricing

      Commercial Pad Sites For Rent

      Commercial pad sites available in new mixed-use development.
      21079 Winding Way, Lexington Park, MD 20653
      View Details
    • Contact for pricing

      Mixed-Use Retail Near Naval Station

      Retail space near Route 235 and Patuxent River Naval Station.
      21800 N Shangri-La Dr, Lexington Park, MD 20653
      View Details
    • $1,600 /Mo

      Office Space on Route 235

      Small office space with ample parking and high visibility.
      22598 Three Notch Rd, Lexington Park, MD 20653
      View Details

    Property Visit Statistics

    • Visits by month
      2.6k
    • Visitors by month
      1.2k
    • Avg Time on site
      393 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21882 F D R Blvd
    Lexington Park, MD 20653-5526
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21882 F D R Blvd, Lexington Park, MD, 20653
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!