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Property profile & analytics
OFF-MARKET
Estimated value
$58,895,000
Apartment buildings
3505 Sheffield Mnr Ter Silver Spring, MD 20904-7268
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-0341634
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1987
Total area
235,616 SF
Lot
12.81 ac (558,004 SF)
Zoning code
R30
APN
05-02270260
UPID
US40-0341634
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
by Request
CAP Approach
CAP
$59.85M
Comparable Approach
Comparable
$58.34M
Blend (final)
Blend
$58.90M
Owner & transaction history
Fairfield Sheffield Forest LP · 22 yrs held
Fairfield Sheffield Forest LP
since 2004
Last sale
$58.7M
3 recorded transactions
Zoning & alternative use
R30 · Silver Spring, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$91.4M
+26.1%
Office building
$77.8M
+7.4%
Warehouse, storage
$73.7M
+1.8%
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 Silver Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Silver Spring 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
$66,665,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$64,840,000
6.5%
$59,850,000
7%
$55,575,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$72,445,000
Current use
COMMERCIAL (GENERAL)
$91,355,000
Change: +26% · Conversion: Moderate
OFFICE BUILDING
$77,835,000
Change: +7% · Conversion: Moderate
WAREHOUSE, STORAGE
$73,745,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$58.90M
Range $53.01M – $64.78M · ±10% · vs last sale $58.70M (Jan 4 2021)
Last sale anchor
$58.70M
Jan 4 2021
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
$250 / 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
$492,893
Tax year 2022
Assessed value
$46,148,133
Assessed 2023
Previous assessed
$46,148,133
+0.0% YoY
Effective rate
1.07%
On assessed value
Land market value
$7,030,800
Improvement market value
$44,799,000
Total market value
$51,829,800
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Cooling
YES
Stories
3
Units
256
Total area
235,616 SF
Lot
12.81 ac (558,004 SF)
Zoning code
R30
APN
05-02270260
UPID
US40-0341634
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
R30 · Silver Spring, MD
Zoning R30 · permitted uses
R30 · Silver Spring, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Silver Spring. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$72.4M
COMMERCIAL (GENERAL)
Est. value
$91.4M
OFFICE BUILDING
Est. value
$77.8M
WAREHOUSE, STORAGE
Est. value
$73.7M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1987
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
256
Lot
12.81 ac
Current owner
From public records · entity-resolved
Fairfield Sheffield Forest LP
Entity
Mailing address
2405 YORK RD STE #201, LUTHERVILLE TIMONIUM, MD 21093-2252
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2017
—
Montclair Apartments LLC
—
Grant Deed
related
$32,412,000 · Cbre Cap Markets
Jan 26, 2012
—
Montclair Apartments LP
—
Deed Of Trust
related
$19,000,000 · Hartford Life Insurance Co
Feb 10, 2004
$27,250,000
Fairfield Sheffield Forest LP
Bamt Sheffield Corp
Grant Deed
$21,125,000 · Nationwide Life Insurance 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.
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