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Property profile & analytics
FOR LEASE
Office buildings
231 Najoles Rd, Millersville, MD 21108
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US40-0493710
For Lease
1 / 5
$12,890,000
231 Najoles Rd, Millersville, MD 21108
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2017
Total area
123,000 SF
Lot
9.92 ac (431,941 SF)
Zoning code
W1
APN
04-000-90070356
UPID
US40-0493710
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
-
Tony Leighty - NFM Lending Loan Service Bank
-
Tom Latta Team of Direct Mortgage Loans Loan Service Bank
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
Natlie White, NextHome Prime Properties Real Estate Agency
-
Keller Williams Realty Flagship of Maryland Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.15M
Comparable Approach
Comparable
$8.42M
Blend (final)
Blend
$12.89M
Owner & transaction history
Benfield Corporate Park LLC · 15 yrs held
Benfield Corporate Park LLC
since 2010
5 recorded transactions
Zoning & alternative use
W1 · Millersville, 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 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%
$15,330,000
6.5%
$14,150,000
7%
$13,140,000
Blend value · Realmo final
$12.89M
Range $11.60M – $14.18M · ±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
$105 / 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
$106,760
Tax year 2023
Assessed value
$9,776,600
Assessed 2023
Previous assessed
$10,138,600
-3.6% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,868,500
Assessed improvement
$7,908,100
Land market value
$1,868,500
Improvement market value
$7,908,100
Total market value
$9,776,600
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2017
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
5
Units
1
Total area
123,000 SF
Lot
9.92 ac (431,941 SF)
Zoning code
W1
APN
04-000-90070356
UPID
US40-0493710
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
W1 · Millersville, MD
Zoning W1 · permitted uses
W1 · 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.
Building & site characteristics
From public records
Year built
2017
Heating
PACKAGE
Cooling
Yes
Stories
5
Units
1
Lot
9.92 ac
Current owner
From public records · entity-resolved
Benfield Corporate Park LLC
Entity
Mailing address
2560 LORD BALTIMORE DR, BALTIMORE, MD 21244-2677
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2024
—
Benfield Corporate Park LLC
—
Deed
related
$20,000,000 · Standard Insurance Co
Oct 11, 2016
—
Benfield Corporate Park LLC
—
Deed
related
$21,150,000 · Manufacturers & Traders Trust Co
Aug 27, 2010
$415,000
Benfield Corporate Park LLC
Ritchie Of Cypress Associates LLC
Grant Deed
—
—
—
Benfield Corporate Park LLC
—
Deed Of Trust
related
$5,100,000 · Lord Baltimore Fndg Xiii LLC
—
—
Benfield Corporate Park LLC
—
Deed Of Trust
related
$6,400,000 · Lord Baltimore Fndg Xiii LLC
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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