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Property profile & analytics
OFF-MARKET
Estimated value
$240,000
Office Spaces
3 Washington Cir Nw Ste 402 Washington, DC 20037-2362
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US16-0099967
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1981
Construction
TILT-UP CONCRETE
Total area
684 SF
Lot
0 ac (129 SF)
Zoning code
RA4
APN
0038 2016
UPID
US16-0099967
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
$265k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$240k
Owner & transaction history
Robert Mckernan · 3 yrs held
Robert Mckernan
since 2022
Last sale
$310,000
3 recorded transactions
Zoning & alternative use
RA4 · Washington, DC
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 Washington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Washington 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
$240,000
ML approach
$265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$240k
Range $216k – $264k · ±10% · vs last sale $310k (Oct 3 2022)
Last sale anchor
$310k
Oct 3 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
$351 / 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
$6,956
Tax year 2023
Assessed value
$399,110
Assessed 2023
Previous assessed
$399,110
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$93,650
Assessed improvement
$305,460
Land market value
$93,650
Improvement market value
$305,460
Total market value
$399,110
Applied tax rate
2.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1981
Construction
TILT-UP CONCRETE
Heating
NONE
Total area
684 SF
Lot
0 ac (129 SF)
Zoning code
RA4
APN
0038 2016
UPID
US16-0099967
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
RA4 · Washington, DCZoning RA4 · permitted uses
RA4 · Washington, DC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1981
Construction
TILT-UP CONCRETE
Heating
NONE
Lot
0 ac
Current owner
From public records · entity-resolved
Robert Mckernan
Individual
Mailing address
1812 VERNON ST NW APT #1, WASHINGTON, DC 20009-1259
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2022
$310,000
Robert Mckernan
Terrance A Chipman
Special Warranty Deed
—
Jun 5, 2014
—
Chipman Family Trust A
Chipman Family Trust
Quit Claim Deed
related
—
—
—
Chipman Family Trust
—
Deed Of Trust
related
$50,000 · Pnc 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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