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Property profile & analytics
OFF-MARKET
Estimated value
$25,035,000
Apartment buildings
2321 Elkin St Silver Spring, MD 20902
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US40-1206720
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1954
Total area
103,680 SF
Lot
2.69 ac (117,054 SF)
Zoning code
CR4.0
APN
13-01843280
UPID
US40-1206720
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.34M
Comparable Approach
Comparable
$17.99M
Blend (final)
Blend
$25.04M
Owner & transaction history
Pembridge Dqure Apartments LP · 22 yrs held
Pembridge Dqure Apartments LP
since 2003
3 recorded transactions
Zoning & alternative use
CR4.0 · Silver Spring, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$40.2M
+26.1%
Office building
$34.3M
+7.4%
Warehouse, storage
$32.5M
+1.8%
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 Silver Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Silver Spring 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%
$28,530,000
6.5%
$26,335,000
7%
$24,455,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$31,880,000
Current use
COMMERCIAL (GENERAL)
$40,200,000
Change: +26% · Conversion: Moderate
OFFICE BUILDING
$34,250,000
Change: +7% · Conversion: Moderate
WAREHOUSE, STORAGE
$32,450,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$25.04M
Range $22.53M – $27.54M · ±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
$241 / 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
Assessed value
$14,516,800
Assessed 2023
Previous assessed
$14,516,800
+0.0% YoY
Assessed land
$2,174,500
Assessed improvement
$12,342,300
Land market value
$2,174,500
Improvement market value
$12,342,300
Total market value
$14,516,800
Applied tax rate
82.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1954
Heating
NONE
Stories
3
Units
133
Total area
103,680 SF
Lot
2.69 ac (117,054 SF)
Zoning code
CR4.0
APN
13-01843280
UPID
US40-1206720
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CR4.0 · Silver Spring, MDZoning CR4.0 · permitted uses
CR4.0 · Silver Spring, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$31.9M
COMMERCIAL (GENERAL)
Est. value
$40.2M
OFFICE BUILDING
Est. value
$34.3M
WAREHOUSE, STORAGE
Est. value
$32.5M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1954
Heating
NONE
Stories
3
Units
133
Lot
2.69 ac
Current owner
From public records · entity-resolved
Pembridge Dqure Apartments LP
Entity
Mailing address
12200 TECH RD STE #250, SILVER SPRING, MD 20904-1938
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2003
—
Pembridge Dqure Apartments LP
Mhp Pembridge Square Apartment
Quit Claim Deed
related
$728,400 · Reilly Mortgage Group INC
Jan 28, 2002
$7,000,000
Mhp Pembridge Square Apts INC
New Potomac LP
Grant Deed
$5,800,000 · Provident Savings Bank
Dec 2, 1997
$4,921,000
New Potomac Limited Ptnshp
Cindy Lou Ltd Pt
Grant Deed
—
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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