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Property profile & analytics
FOR LEASE
Commercial land
8358 Veterans Hwy Millersville, MD 21108
Entity Owned
6-yr Hold
Free & Clear
Property ID
US40-0099547
For Lease
1 / 10
$520,000
8358 Veterans Hwy, Millersville, MD 21108
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Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Total area
1,600 SF
Lot
3.1 ac (135,036 SF)
Zoning code
C4
APN
04-000-90047600
UPID
US40-0099547
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
$340k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$546k
Blend (final)
Blend
$520k
Owner & transaction history
Ajr Properties LLC · 6 yrs held
Ajr Properties LLC
since 2019
4 recorded transactions
Zoning & alternative use
C4 · Millersville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$800,000
+63.4%
Auto repair, garage
$680,000
+38.8%
Retail stores
$665,000
+35.2%
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 Millersville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millersville 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
$340,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$490,000
Current use
OFFICE BUILDING
$800,000
Change: +63% · Conversion: Easy
AUTO REPAIR, GARAGE
$680,000
Change: +39% · Conversion: Difficult
RETAIL STORES
$665,000
Change: +35% · Conversion: Easy
MEDICAL BUILDING
$585,000
Change: +20% · Conversion: Easy
WAREHOUSE, STORAGE
$535,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$325 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$17,199
Tax year 2023
Assessed value
$1,575,000
Assessed 2023
Previous assessed
$1,575,000
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,575,000
Land market value
$1,575,000
Total market value
$1,575,000
Applied tax rate
4.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Heating
NONE
Stories
1
Bathrooms
1
Total area
1,600 SF
Lot
3.1 ac (135,036 SF)
Zoning code
C4
APN
04-000-90047600
UPID
US40-0099547
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C4 · Millersville, MDZoning C4 · permitted uses
C4 · Millersville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$490,000
OFFICE BUILDING
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$680,000
RETAIL STORES
Est. value
$665,000
MEDICAL BUILDING
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$535,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL 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
Heating
NONE
Stories
1
Bathrooms
1
Lot
3.1 ac
Current owner
From public records · entity-resolved
Ajr Properties LLC
Entity
Free & Clear · 6 yrs held
Mailing address
8970 MAIER RD, LAUREL, MD 20723-1312
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2019
$1,575,000
Ajr Properties LLC
Njm LLC
Grant Deed
—
Jun 21, 2004
$1,500,000
Dominic J Nicastri JR.
Hutchison,ronald & Lynn
Grant Deed
—
May 7, 2003
$1,300,000
Anne Arundel County Emp FCU
Micciche,richard
Grant Deed
related
—
—
—
Richard Micciche
—
Deed Of Trust
related
$400,000 · Bank Of Glen Burnie
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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