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Property profile & analytics
OFF-MARKET
Estimated value
$1,815,000
Retail space
902 Merrimac Dr Takoma Park, MD 20912-7337
Individually Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1014922
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Construction
BRICK
Total area
5,817 SF
Lot
0.45 ac (19,659 SF)
Zoning code
CRT1.
APN
13-01066984
UPID
US40-1014922
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
by Request
Comparable Approach
Comparable
$2.44M
Blend (final)
Blend
$1.82M
Owner & transaction history
Carol F Horing · 23 yrs held
Carol F Horing
since 2003
4 recorded transactions
Zoning & alternative use
CRT1. · Takoma Park, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.8M
+7.7%
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 Takoma Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Takoma Park 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,575,000
Current use
INDUSTRIAL (GENERAL)
$2,770,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,255,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.82M
Range $1.63M – $2.00M · ±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
$312 / 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
$26,974
Tax year 2022
Assessed value
$1,535,233
Assessed 2023
Previous assessed
$1,520,067
+1.0% YoY
Effective rate
1.76%
On assessed value
Land market value
$1,044,400
Improvement market value
$506,000
Total market value
$1,550,400
Applied tax rate
23.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Construction
BRICK
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,817 SF
Lot
0.45 ac (19,659 SF)
Zoning code
CRT1.
APN
13-01066984
UPID
US40-1014922
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CRT1. · Takoma Park, MDZoning CRT1. · permitted uses
CRT1. · Takoma Park, 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
RETAIL STORES Current
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Carol F Horing
Individual
Mailing address
1350 CONNECTICUT AVE NW STE #800, WASHINGTON, DC 20036-1733
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
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
Jul 29, 2022
—
Merrimac Investments LLC
—
Deed
related
$1,870,000 · Sandy Spring Bank
Apr 8, 2003
—
Horning Associates LP
—
Deed Of Trust
related
$1,246,500 · Artesia Mortgage Capital Corp
Apr 2, 2003
—
Carol F Horing
Horning,lawrence E Est
Grant Deed
related
—
—
—
Merrimac Investments LLC
—
Deed Of Trust
related
$1,500,000 · American Equity Inv Life Ins
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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