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Property profile & analytics
OFF-MARKET
Estimated value
$20,415,000
Warehouses
8700 Ritchie Dr, Capitol Heights, MD 20743-4919
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US40-1348941
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
BRICK
Total area
102,702 SF
Lot
6.02 ac (262,231 SF)
Zoning code
IE
APN
13-1413087
UPID
US40-1348941
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
-
Equity Hampton Associates Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$27.17M
Blend (final)
Blend
$20.42M
Owner & transaction history
Lba Or Core Company Xxi LLC · 3 yrs held
Lba Or Core Company Xxi LLC
since 2023
Last sale
$20.4M
5 recorded transactions
Zoning & alternative use
IE · Capitol Heights, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$31.2M
+26.3%
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 Capitol Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Capitol Heights 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
$25,350,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$24,675,000
Current use
MEDICAL BUILDING
$31,155,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$20.42M
Range $18.37M – $22.46M · ±10% · vs last sale $20.40M (Jun 6 2023)
Last sale anchor
$20.40M
Jun 6 2023
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
$199 / 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
$130,855
Tax year 2023
Assessed value
$11,767,500
Assessed 2023
Previous assessed
$9,600,967
+22.6% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,622,300
Assessed improvement
$9,145,200
Land market value
$2,622,300
Improvement market value
$9,145,200
Total market value
$11,767,500
Applied tax rate
13.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
BRICK
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
102,702 SF
Lot
6.02 ac (262,231 SF)
Zoning code
IE
APN
13-1413087
UPID
US40-1348941
Jurisdiction
PRINCE GEORGE'S
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
IE · Capitol Heights, MD
Zoning IE · permitted uses
IE · Capitol Heights, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Capitol Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$24.7M
MEDICAL BUILDING
Est. value
$31.2M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
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
2000
Construction
BRICK
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
6.02 ac
Current owner
From public records · entity-resolved
Lba Or Core Company Xxi LLC
Entity
Mailing address
3347 MICHELSON DR STE #1050, IRVINE, CA 92612-1692
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2024
—
Lba Or Core Company Xxi LLC
—
Deed
related
$54,100,000 · State Farm Life Insurance Co
Jun 6, 2023
$20,400,000
Lba Or Core Company Xxi LLC
8700 Ritchie Drive Owner LLC
Special Warranty Deed
$9,330,000 · Ollee LLC
Dec 1, 2020
$12,300,000
8700 Ritchie Drive Owner LLC
Hampton Heights One LLC
Special Warranty Deed
$9,000,000 · United Bank
Nov 30, 2000
$4,800,000
Hampton Heights One LLC
Equity Hampton Associates LLC
Grant Deed
related
$3,700,000 · Archon Financial LP
—
—
Hampton Heights One LLC
—
Deed Of Trust
related
$3,308,523 · 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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