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    Property profile & analytics

    3020 Mitchellville Rd, Unit 10 Bowie, MD 20716-3980

    • Office Properties & Spaces
    • 852 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jan 11, 2021
    $168,000
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    5.3%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US40-1771284
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Siska Insurance / Insurance Agency / Auto Insurance Agency
    • Dependable Payroll Services / Accountant

    Property Details for 3020 Mitchellville Rd

    Year built
    1988
    Lot size
    0.06 lot acres
    Property size
    852 SF
    Zone code
    CO
    Property type
    Office Properties & Spaces
    APN
    07-0686501
    APU
    70686501

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $230,000
      6.5%
      $215,000
      7%
      $200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $180,000
      Market price range: $120k - $262k
      AI Estimate
      $202,000
      Market price range: $168k - $273k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bowie
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.7345
    Latitude
    38.9315
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,823
    $0.00
    $0.00
    $133,433
    -
    $47,700
    $88,600
    $136,300

    Comparable in this City

    • Value Estimation by Request
      1,324 SF

      3060 Mitchellville Rd, Unit 20

      CONDOMINIUM OFFICES • 1,324 SF
      3060 Mitchellville Rd, Bowie, MD 20716-1389
      View Details
    • Value Estimation by Request
      744 SF

      1532 Pointer Rdg Pl Ste H

      CONDOMINIUM OFFICES • 744 SF
      1532 Pointer Rdg Pl Ste H, Bowie, MD 20716-1874
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    • Value Estimation by Request
      963 SF

      3048 Mitchellville Rd

      CONDOMINIUM OFFICES • 963 SF
      3048 Mitchellville Rd, Bowie, MD 20716-1388
      View Details
    • Value Estimation by Request
      900 SF

      2905 Mitchellville Rd Ste, Unit 101

      CONDOMINIUM OFFICES • 900 SF
      2905 Mitchellville Rd Ste, Bowie, MD 20716-3950
      View Details
    • Value Estimation by Request
      770 SF

      2905 Mitchellville Rd Ste, Unit 104

      CONDOMINIUM OFFICES • 770 SF
      2905 Mitchellville Rd Ste, Bowie, MD 20716-3952
      View Details
    • Value Estimation by Request
      955 SF

      3034 Mitchellville Rd

      CONDOMINIUM OFFICES • 955 SF
      3034 Mitchellville Rd, Bowie, MD 20716-1388
      View Details

    Similar Nearby for Sale

    • $395,000
      1,611 SF

      Bowie Office Space: Prime Location

      Renovated Office, Great Amenities, Ready to Occupy
      3060 Mitchellville Rd, Bowie, MD 20716
      View Details
    • $600,000
      0.53 Acres

      Bowie Commercial Land: Prime Development Site

      0.529-acre lot, high visibility, US Route 301.
      2011 Crain Hwy, Bowie, MD 20716
      View Details
    • $600,000

      Developmental Site in Bowie, MD

      23,034 SF developmental site in the heart of Bowie.
      2011 Crain Hwy, Bowie, MD 20716
      View Details
    • $3,750,000
      8,533 SF

      Bowie Retail Investment Opportunity

      Freestanding retail property in Bowie, MD with established tenants.
      15704 Mount Oak Rd, Bowie, MD 20716
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    • Contact for pricing

      Land in Amber Ridge Development

      2.49 acres in Bowie, MD, near major highways.
      1610 NW Crain Hwy, Bowie, MD 20716
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    • $435,000

      Ellerton Road Specialty Property

      Specialty property available for purchase on Ellerton Road.
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    Similar Nearby for Lease

    • Contact for pricing
      4,300 SF

      Class A Office Space Available

      Class A office space for rent in Bowie, Maryland.
      4201 Northview Dr, Bowie, MD 20716
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    • $25 SF/Yr
      36,260 SF

      Bowie Medical Office Space For Lease

      1,294 SF Medical Office Suite Available
      4175 Hanson Ct, Bowie, MD 20716
      View Details
    • Contact for pricing
      45,644 SF

      Medical Offices in Bowie Health Campus

      Medical offices available within University of Maryland Bowie Health Campus.
      14999 Health Center Dr, Bowie, MD 20716
      View Details
    • $2,500 /Mo
      3,920 SF

      Attractive Office Space in Bowie

      Rare office space with treetop views and excellent access.
      4335 Northview Dr, Bowie, MD 20716
      View Details
    • $22 SF/Yr
      55,754 SF

      Bowie Office Suites for Lease

      Class A office suites with high visibility and accessibility.
      4201 Mitchellville Rd, Bowie, MD 20716
      View Details
    • Contact for pricing
      2,500 SF

      Bowie town center strip

      Retail properties
      15606 Emerald Way, Bowie, MD 20716
      View Details
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    3020 Mitchellville Rd, Unit 10
    Bowie, MD 20716-3980
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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