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Property profile & analytics
FOR LEASE
Distribution centers
2918 Ritchie Rd, District Heights, MD 20747
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-1033280
For Lease
1 / 12
$25,000 SF/Yr
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.43M
CAP Approach
CAP
$4.45M
Comparable Approach
Comparable
$3.44M
Blend (final)
Blend
$3.35M
Owner & transaction history
Grajes LLC · 3 yrs held
Grajes LLC
since 2023
Last sale
$2.7M
2 recorded transactions
Zoning & alternative use
IE · District Heights, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.9M
+18.0%
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 District Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs District Heights 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
$3,355,000
ML approach
$3,430,000
CAP Approach
CAP Return
Estimation
6%
$4,815,000
6.5%
$4,445,000
7%
$4,125,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,190,000
Current use
COMMERCIAL (GENERAL)
$4,940,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$3.35M
Range $3.01M – $3.68M · ±10% · vs last sale $2.70M (Mar 27 2023)
Last sale anchor
$2.70M
Mar 27 2023
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
$223 / 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
$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
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
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, MD
Zoning IE · permitted uses
IE · District Heights, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
District Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.9M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1993
Construction
BRICK
Heating
SPACE
Stories
1
Units
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Grajes LLC
Entity
Free & Clear · 3 yrs held
Mailing address
8001 CRYDEN WAY, DISTRICT HEIGHTS, MD 20747-4509
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2023
$2,700,000
Grajes LLC
R C M Associates LLC
Deed
—
Nov 29, 2022
—
R C M Associates LLC
R C M Associates
Intrafamily Transfer
related
—
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.
Try Rey
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