Entity Owned 
For Lease
1 / 12
$3,355,000
2918 Ritchie Rd, District Heights, MD 20747
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Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1993
Construction
BRICK
Total area
15,000 SF
Lot
1.24 ac (54,041 SF)
Zoning code
IE
APN
06-0472241
UPID
US40-1033280
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Auto Parts Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.43M
CAP Approach
CAP
$4.45M
Comparable Approach
Comparable
$3.44M
Blend (final)
Blend
$3.36M
Owner & transaction history
since 2023
Last sale
$2.7M
2 recorded transactions
Zoning & alternative use
IE · District Heights, MD
Top alternative use upside
Commercial (general)
$4.9M
+18.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$3.36M
Value range
$3.02M – $3.69M
±10% around blend
Estimated value / SF
$224 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
50
Income certainty
100
$3.02M
blend $3.36M
$3.69M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,000 SF
Lot area
1.24 ac
Year built
1993
Stories
1
APN
06-0472241
Zoning
IE
Assessed value
$1,284,600
Annual tax
$14,285
3
Income approach: direct capitalization
Partial preview
Income approach indication
$4.45M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.82M
@ 6.5% CAP return
$4.45M
@ 7% CAP return
$4.13M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$14,285
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$4.77M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.6 mi away · 18,840 SF
2.3 mi away · 16,500 SF
2.3 mi away · 16,252 SF
2.6 mi away · 19,404 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.36M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 220 sales
$279
-20%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $224/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+18%
vs current-use indication
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
8.60%
Selected cap rate for this distribution centers
Derived from the District Heights market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.60%
9.0%
NOI (est.)
$167k *
Last sale · Mar 2023
$2.70M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.94M
Move the market yield to see immediate price impact.
Value / SF
$129
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.10%8.60%9.10%
$150k
$1.85M
$1.75M
$1.65M
$167k
$2.06M
$1.94M
$1.83M
$184k
$2.27M
$2.13M
$2.02M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$5.13M
0.1 mi · Feb 2026 · $326/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$14,285
Tax year 2023
Assessed value
$1,284,600
Assessed 2023
Previous assessed
$1,191,733
+7.8% YoY
Effective rate
1.11%
On assessed value
Assessed land
$297,200
Assessed improvement
$987,400
Land market value
$297,200
Improvement market value
$987,400
Total market value
$1,284,600
Applied tax rate
6.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1993
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Total area
15,000 SF
Lot
1.24 ac (54,041 SF)
Zoning code
IE
APN
06-0472241
UPID
US40-1033280
Jurisdiction
PRINCE GEORGE'S
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
IE · District Heights, MDZoning IE · permitted uses
IE · District Heights, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1993
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Lot
1.24 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
IE
Jurisdiction
District Heights, MD
Recorded code
IE
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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