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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Office buildings
232 Main St Gaithersburg, MD 20878-5543
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-2322222
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
BRICK
Total area
2,880 SF
Lot
0.03 ac (1,112 SF)
Zoning code
MXD
APN
09-03223721
UPID
US40-2322222
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
-
Dee Nails Nail Salon
-
Dollie Nicholson, CENTURY 21 The Real Estate Centre Real Estate Agency
-
Authentic Royalty S&Ns Fashion Clothing & Fashion Store
-
PASSY HAIR BRAIDING SALON Hair Salon
-
C Curl Hair Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$915k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$965k
Owner & transaction history
Textures Hair Salon LLC · 4 yrs held
Textures Hair Salon LLC
since 2022
Last sale
$996,000
7 recorded transactions
Zoning & alternative use
MXD · Gaithersburg, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+89.1%
Warehouse, storage
$900,000
+7.1%
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 Gaithersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gaithersburg 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
$865,000
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$840,000
Current use
RETAIL STORES
$1,590,000
Change: +89% · Conversion: Moderate
WAREHOUSE, STORAGE
$900,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $996k (Jun 1 2022)
Last sale anchor
$996k
Jun 1 2022
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
$335 / 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
$14,018
Tax year 2022
Assessed value
$1,079,400
Assessed 2023
Previous assessed
$1,076,067
+0.3% YoY
Effective rate
1.30%
On assessed value
Assessed land
$266,800
Assessed improvement
$812,600
Land market value
$266,800
Improvement market value
$812,600
Total market value
$1,079,400
Applied tax rate
13.0000
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
1999
Construction
BRICK
Heating
YES
Cooling
YES
Stories
3
Units
1
Total area
2,880 SF
Lot
0.03 ac (1,112 SF)
Zoning code
MXD
APN
09-03223721
UPID
US40-2322222
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
MXD · Gaithersburg, MD
Zoning MXD · permitted uses
MXD · Gaithersburg, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gaithersburg. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$840,000
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$900,000
OFFICE BUILDING Current
RETAIL STORES
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
1999
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
3
Units
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
Textures Hair Salon LLC
Entity
Mailing address
2215 BEAR DEN RD, FREDERICK, MD 21701-9396
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2022
$996,000
Textures Hair Salon LLC
Gershon Hoffer
Deed
$796,800 · M & T Bank
Sep 16, 2004
—
Mortgage Vault LLC
Mortgage Vault INC
Quit Claim Deed
related
$450,000 · Mercantile Potomac Bank
Aug 1, 2000
$468,994
Mortgage Vault INC
Clarksburg Center Assoc INC
Grant Deed
related
$384,100 · Business Bank
Oct 28, 1998
$945,750
Clarksburg Center Assoc INC
Great Seneca Development Corp
Grant Deed
$3,800,000 · Chevy Chase Savings Bank
—
—
Leslie O Tripp
—
Deed Of Trust
related
$449,313 · Business Bank
—
—
Leslie Tripp
—
Deed Of Trust
related
$80,000 · Lee Tripp
—
—
Leslie O Tripp
—
Deed Of Trust
related
$75,000 · Pnc Bank
—
—
Mortgage Vault INC
—
Deed Of Trust
related
$25,000 · Potomac Valley Bank
—
—
Mortgage Vault INC
—
Deed Of Trust
related
$445,000 · Potomac Valley Bank
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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