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    3400 Pennsy Dr Landover, MD 20785-1607
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    Property profile & analytics

    3400 Pennsy Dr, Landover, MD 20785-1607

    View on Map
    • Office buildings
    • 100,000 SF
    • 12.87 lot acres
    Off-Market
    Property ID
    US40-0806169
    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.
    Value Estimations
    $25,625,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 3400 Pennsy Dr

    Year built
    1966
    Construction
    BRICK
    Lot size
    12.87 lot acres
    Zone code
    IE
    Property type
    Office buildings
    APN
    20-3078730
    APU
    203078730

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 15, 2023 — Tc Pennsy Drive LLC — Deed · related $76.7M · Wells Fargo Bank NA
    Nov 2, 2007 — Tc Pennsy Drive LLC — Trustees Deed · related $13.1M · Bank Midwest NA
    Apr 16, 2004 $7,070,000 Tc Pennsy Drive LLC 98 Hm Landover LLC Grant Deed $8.4M · Bank Midwest NA
    Jun 30, 1999 $9,155,000 98 Hm Landover LLC Sumitomo Bank Leasing & Financ Grant Deed —
    Jun 30, 1999 — 98 Hm Landover LLC — Deed Of Trust · related $9.2M · Greenwich Capital Financial
    Feb 13, 1998 $9,000,000 Sumitomo Bank Leasing & Fin'l Reliable Store INC Grant Deed · related —
    — — Heilig-meyers Furniture Co — Deed Of Trust · related $9.1M · Sumitomo Bank Leasing & Financ
    — — Tc Pennsy Drive LLC — Deed Of Trust · related $23M · Bank Midwest NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $27,160,000
      6.5%
      $25,070,000
      7%
      $23,280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $28,124,000
      Market price range: $10.6M - $28.1M
      AI Estimate
      $23,678,000
      Market price range: $3.76M - $23.7M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $18,035,000
      Current use
      RETAIL STORES
      $41,710,000
      Change: +131% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $41,455,000
      Change: +130% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $33,375,000
      Change: +85% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Landover
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.8804
    Latitude
    38.9384
    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
    $604,613
    $5,045,500
    $49,326,200
    $54,371,700
    -
    $5,045,500
    $49,326,200
    $54,371,700

    Comparable in this City

    • Value Estimation
      $4,060,000
      15,843 SF

      3300 Pennsy Dr

      OFFICE BUILDING
      3300 Pennsy Dr, Hyattsville, MD 20785-1604
      View Details
    • Value Estimation by Request
      337,216 SF

      4100 Gdn City Dr

      OFFICE BUILDING
      4100 Gdn City Dr, Hyattsville, MD 20785-2416
      View Details
    • Value Estimation
      $570,000
      2,320 SF

      1861 Clb Dr

      OFFICE BUILDING
      1861 Clb Dr, Landover, MD 20785-3213
      View Details
    • Value Estimation
      $3,615,000
      2,124 SF

      7650 Preston Dr

      OFFICE BUILDING
      7650 Preston Dr, Landover, MD 20785-2318
      View Details
    • Value Estimation
      $6,765,000
      28,967 SF

      8200 Professional Pl

      OFFICE BUILDING
      8200 Professional Pl, Landover, MD 20785-2212
      View Details
    • Value Estimation by Request
      7,700 SF

      2270 Beaver Rd

      OFFICE BUILDING
      2270 Beaver Rd, Hyattsville, MD 20785-3223
      View Details

    Similar Nearby for Sale

    • $1,000,000

      Five-Story Commercial Building For Sale

      Five-story commercial building with rooftop views in Prince George’s County.
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      View Details
    • $2,262,500

      Landover Road Development Opportunity

      3.71-acre commercial land parcel zoned for diverse development.
      8247 Landover Rd, Landover, MD 20785
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    • Contact for pricing

      Land for Sale in Landover

      One acre of raw land with I-E zoning.
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    Similar Nearby for Lease

    • Contact for pricing

      Landover Office Building with Amenities

      Six-story office building with premier accessibility and exceptional amenities.
      8401 Corporate Dr, Landover, MD 20785
      View Details
    • Contact for pricing

      Landover Office Building with Amenities

      12-story office building with premier accessibility and exceptional amenities.
      8201 Corporate Dr, Landover, MD 20785
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      Warehouse Space with Office

      Warehouse space with office, dock loading, and secure lot.
      6300 Columbia Park Rd, Landover, MD 20785
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      Largo Office Park Suites

      Well-maintained office suites in a growing Largo business park.
      1801-1823 Brightseat Rd, Landover, MD 20785
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    • Contact for pricing

      Industrial/Flex Park Suite

      Flexible industrial suites with drive-in and dock loading, ample parking, and showroom/office space.
      3321 75Th Ave, Landover, MD 20785
      View Details
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    Landover, MD 20785-1607
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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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