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Property profile & analytics
OFF-MARKET
Estimated value
$96,800,000
Apartment buildings
8616 2nd Ave Silver Spring, MD 20910-3786
Entity Owned
13-yr Hold
Absentee Owner
Property ID
US40-0691103
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2014
Construction
BRICK
Total area
290,544 SF
Lot
1.75 ac (76,345 SF)
Zoning code
CR3.0
APN
13-03714190
UPID
US40-0691103
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
-
Heypayless (Bike/Boat/Book/etc) Store Corporate Office
-
Uflo Employment Agency
-
Fenwick Apartments Apartment Complex
-
Luvy Car Towings (Bike/Boat/Book/etc) Store Auto Parts Store
-
Trufitness Mobile Training Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$73.81M
Comparable Approach
Comparable
$123.19M
Blend (final)
Blend
$96.80M
Owner & transaction history
Fenwick Station Venture LLC · 13 yrs held
Fenwick Station Venture LLC
since 2012
Last sale
$95.1M
3 recorded transactions
Zoning & alternative use
CR3.0 · Silver Spring, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$138.4M
+55.0%
Office building
$134.0M
+50.0%
Retail stores
$128.5M
+43.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$79,955,000
6.5%
$73,805,000
7%
$68,530,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$89,335,000
Current use
INDUSTRIAL (GENERAL)
$138,440,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$134,020,000
Change: +50% · Conversion: Moderate
RETAIL STORES
$128,535,000
Change: +44% · Conversion: Difficult
COMMERCIAL (GENERAL)
$112,655,000
Change: +26% · Conversion: Moderate
WAREHOUSE, STORAGE
$90,935,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$96.80M
Range $87.12M – $106.48M · ±10% · vs last sale $95.10M (May 5 2025)
Last sale anchor
$95.10M
May 5 2025
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
$333 / 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
$779,123
Tax year 2022
Assessed value
$74,360,700
Assessed 2023
Previous assessed
$74,360,700
+0.0% YoY
Effective rate
1.05%
On assessed value
Land market value
$7,349,700
Improvement market value
$73,023,500
Total market value
$80,373,200
Applied tax rate
48.0000
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
2014
Construction
BRICK
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
6
Units
310
Total area
290,544 SF
Lot
1.75 ac (76,345 SF)
Zoning code
CR3.0
APN
13-03714190
UPID
US40-0691103
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CR3.0 · Silver Spring, MDZoning CR3.0 · permitted uses
CR3.0 · Silver Spring, 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$89.3M
INDUSTRIAL (GENERAL)
Est. value
$138.4M
OFFICE BUILDING
Est. value
$134.0M
RETAIL STORES
Est. value
$128.5M
COMMERCIAL (GENERAL)
Est. value
$112.7M
WAREHOUSE, STORAGE
Est. value
$90.9M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
2014
Construction
BRICK
Heating
HOT WATER
Cooling
Yes
Stories
6
Units
310
Lot
1.75 ac
Current owner
From public records · entity-resolved
Fenwick Station Venture LLC
Entity
Mailing address
5355 MIRA SORRENTO PL STE #100, SAN DIEGO, CA 92121-3812
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Mar 1, 2013
—
Fenwick Station Venture LLC
—
Deed Of Trust
related
$48,100,000 · Pnc Bank
Oct 11, 2012
$10,630,000
Fenwick Station Venture LLC
Epn-sspo LLC
Grant Deed
$8,000,000 · Eagle Bank
Feb 9, 2012
$7,150,000
Epn-sspo LLC
United States Postal Svcs
Deed Of Trust
related
$8,000,000 · Eagle Bank
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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