Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7229 Hanover Pkwy Ste C Greenbelt, MD 20770-2026

    • Office Properties & Spaces
    • 851 SF
    • 0.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0716979
    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

    • Hanover Park Pharmacy / Pharmacy
    • Misra Brajendrana MD / Doctor
    • Brajendra N Misra Md / Surgeon
    • Greco William R MD / Obstetrician-Gynecologist

    Property Details for 7229 Hanover Pkwy Ste C

    Year built
    1988
    Construction
    BRICK
    Lot size
    0.00 lot acres
    Property size
    851 SF
    Zone code
    CO
    Property type
    Office Properties & Spaces
    APN
    21-2408292
    APU
    212408292

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenbelt
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.8774
    Latitude
    38.989
    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
    $2,368
    $0.00
    $0.00
    $131,867
    -
    $49,100
    $91,300
    $140,400

    Comparable in this City

    • Value Estimation by Request
      1,043 SF

      8723 Greenbelt Rd, Unit F1

      CONDOMINIUM OFFICES • 1,043 SF
      8723 Greenbelt Rd, Greenbelt, MD 20770-2485
      View Details
    • Value Estimation by Request
      848 SF

      7259th Hanover Pkwy4-4-27

      CONDOMINIUM OFFICES • 848 SF
      7259th Hanover Pkwy4-4-27, Greenbelt, MD 20770-3654
      View Details
    • Value Estimation by Request
      979 SF

      8717 Greenbelt Rd, Unit L5

      CONDOMINIUM OFFICES • 979 SF
      8717 Greenbelt Rd, Greenbelt, MD 20770-2458
      View Details
    • Value Estimation by Request
      916 SF

      7325 Hanover Pkwy3-3-15

      CONDOMINIUM OFFICES • 916 SF
      7325 Hanover Pkwy3-3-15, Greenbelt, MD 20770-3618
      View Details
    • Value Estimation by Request
      867 SF

      7225th Hanover Pkwy1-7-72

      CONDOMINIUM OFFICES • 867 SF
      7225th Hanover Pkwy1-7-72, Greenbelt, MD 20770-3651
      View Details
    • Value Estimation by Request
      1,110 SF

      8749 Greenbelt Rd, Unit 1L1

      CONDOMINIUM OFFICES • 1,110 SF
      8749 Greenbelt Rd, Greenbelt, MD 20770-2488
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.07 Acres

      Greenbelt Medical Office Suite for Lease

      Prime Medical Office Space - Ready to Occupy
      7929 Belle Point Dr, Greenbelt, MD 20770
      View Details
    • Contact for pricing
      10,000 SF

      Greenbelt Office Space Available

      Office property in Greenbelt, MD with 10,000 square feet.
      7841-7855 Belle Point Dr, Greenbelt, MD 20770
      View Details
    • $320,000
      1,249 SF

      Greenbelt Office Space for Sale

      Prime Greenbelt Office, 1249 sq ft
      7525 Greenway Center Dr, Greenbelt, MD 20770
      View Details
    • $400,000
      1,730 SF

      Greenbelt Office Condos For Sale

      Two units, 1730 sq ft, prime location.
      7803 Belle Point Dr, Greenbelt, MD 20770
      View Details
    • $900,000

      Modern Office Space in Greenbelt

      Well-appointed office space with modern accents, built out in 2021.
      7821 Belle Point Dr, Greenbelt, MD 20770
      View Details
    • $360,000
      2,000 SF

      Greenbelt Office Space For Sale

      Office space available for purchase in Greenbelt, Maryland.
      7121-7125 Belle Point Dr, Greenbelt, MD 20770
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      115,390 SF

      Greenbelt Office Space for Lease

      Class A Office, 115,390 SF Available
      6303 Ivy Ln, Greenbelt, MD 20770
      View Details
    • $27 SF/Yr
      176,559 SF

      Greenbelt Office Space Available

      Class A Office, Prime Location, Amenities Galore
      6404 Ivy Ln, Greenbelt, MD 20770
      View Details
    • $27 SF/Yr
      176,828 SF

      Greenbelt Office Space Available

      Class A Office, Prime Location, Amenities Galore
      6404 Ivy Ln, Greenbelt, MD 20770
      View Details
    • $22 SF/Yr
      112,000 SF

      Greenbelt Office Space Available

      Class A Office, Prime Location, Amenities Galore
      6305 Ivy Ln, Greenbelt, MD 20770
      View Details
    • $2,095 /Mo

      Medical Office Space Available

      Office suite for lease, ideal for medical professionals.
      7929 Belle Point Dr, Greenbelt, MD 20770
      View Details
    • $24 SF/Yr
      146,644 SF

      Greenbelt Office Space for Lease

      Class A Office, Prime Greenbelt Location
      6411 Ivy Ln, Greenbelt, MD 20770
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7229 Hanover Pkwy Ste C
    Greenbelt, MD 20770-2026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.