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Property profile & analytics
FOR LEASE
Office buildings
3420 Morningwood Dr, Olney, MD 20832
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US40-0027168
For Lease
1 / 2
$17 SF/Yr
3420 Morningwood Dr, Olney, MD 20832
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
CONCRETE
Total area
9,198 SF
Lot
0.49 ac (21,536 SF)
Zoning code
CRT2.
APN
08-03300077
UPID
US40-0027168
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
Current use
Occupant on record · Public records
-
Darryl N. Jones, MPT Physician
-
Tara L. Cepaitis, MPT Physician
-
Maryland Sports Medicine Center Physician
-
Billing and Management Services, LLC Property Management Company
-
Patricia S. Barlow, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.85M
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$1.90M
Owner & transaction history
3420 Morningwood Drive Assoc LLC · 22 yrs held
3420 Morningwood Drive Assoc LLC
since 2004
6 recorded transactions
Zoning & alternative use
CRT2. · Olney, MD
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 Olney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olney 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,000,000
6.5%
$1,845,000
7%
$1,715,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,915,000
Current use
WAREHOUSE, STORAGE
$2,880,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.08M · ±10%
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
$206 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$29,681
Tax year 2022
Assessed value
$2,483,200
Assessed 2023
Previous assessed
$2,574,400
-3.5% YoY
Effective rate
1.20%
On assessed value
Assessed land
$620,200
Assessed improvement
$1,863,000
Land market value
$620,200
Improvement market value
$1,863,000
Total market value
$2,483,200
Applied tax rate
42.0000
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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Units
1
Total area
9,198 SF
Lot
0.49 ac (21,536 SF)
Zoning code
CRT2.
APN
08-03300077
UPID
US40-0027168
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CRT2. · Olney, MD
Zoning CRT2. · permitted uses
CRT2. · Olney, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Olney. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.9M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
2004
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
3
Units
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
3420 Morningwood Drive Assoc LLC
Entity
Mailing address
3414 MORNINGWOOD DR, OLNEY, MD 20832-2260
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2019
—
3420 Momingwood Drive Assocs L
—
Deed
related
$1,300,000 · Suntrust Bk
Apr 19, 2004
$2,100,000
3420 Morningwood Drive Assoc LLC
Kmd Group INC
Grant Deed
$1,657,500 · Bank Of America
Dec 24, 2002
$400,000
Kmd Group INC
Corporation For Shelter Mgmt
Grant Deed
—
Feb 23, 2001
$51,000
Corporation For Shelter Mgmt
Johns,john S
Grant Deed
$200,000 · John S Johns
—
—
3420 Momingwood Drive Assocs L
—
Loan Modification
related
$1,300,000 · Suntrust Bk
—
—
Kmd Group INC
—
Deed Of Trust
related
$1,112,230 · Branch Banking & Trust Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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