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Property profile & analytics
OFF-MARKET
Estimated value
$48,550,000
Office buildings
9601 Blackwell Rd Rockville, MD 20850-3472
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US40-2270297
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
STEEL FRAME
Total area
129,000 SF
Lot
5.52 ac (240,248 SF)
Zoning code
LSC1.
APN
09-03271395
UPID
US40-2270297
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
-
Shady Grove Medical Pavilion Medical Clinic
-
Jennifer M. Beitler DDS PC Dental Office
-
Nancy K. Nielsen, PT Physician
-
Mark A. Peterson, M.D. Physician
-
First Medical Associates Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$50.23M
Blend (final)
Blend
$48.55M
Owner & transaction history
Draco2 Rockville LLC · 3 yrs held
Draco2 Rockville LLC
since 2022
Last sale
$48.0M
6 recorded transactions
Zoning & alternative use
LSC1. · Rockville, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$75.7M
+90.7%
Industrial (general)
$61.5M
+54.8%
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 Rockville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockville 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
$47,975,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$39,720,000
Current use
COMMERCIAL (GENERAL)
$75,735,000
Change: +91% · Conversion: Easy
INDUSTRIAL (GENERAL)
$61,465,000
Change: +55% · Conversion: Difficult
WAREHOUSE, STORAGE
$32,740,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$48.55M
Range $43.70M – $53.41M · ±10% · vs last sale $48.00M (Oct 24 2022)
Last sale anchor
$48.00M
Oct 24 2022
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
$376 / 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
$390,554
Tax year 2022
Assessed value
$41,602,200
Assessed 2023
Previous assessed
$33,382,933
+24.6% YoY
Effective rate
0.94%
On assessed value
Assessed land
$2,784,400
Assessed improvement
$38,817,800
Land market value
$2,784,400
Improvement market value
$38,817,800
Total market value
$41,602,200
Applied tax rate
53.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
5
Units
1
Total area
129,000 SF
Lot
5.52 ac (240,248 SF)
Zoning code
LSC1.
APN
09-03271395
UPID
US40-2270297
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
LSC1. · Rockville, MD
Zoning LSC1. · permitted uses
LSC1. · Rockville, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$39.7M
COMMERCIAL (GENERAL)
Est. value
$75.7M
INDUSTRIAL (GENERAL)
Est. value
$61.5M
WAREHOUSE, STORAGE
Est. value
$32.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
INDUSTRIAL (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
2000
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
5
Units
1
Lot
5.52 ac
Current owner
From public records · entity-resolved
Draco2 Rockville LLC
Entity
Mailing address
800 W MADISON ST STE #400, CHICAGO, IL 60607-2481
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
—
Draco2 Rockville LLC
—
Deed
related
$150,000,000 · Capital One NA
Oct 24, 2022
$48,000,000
Draco2 Rockville LLC
9601 Blackwell Icjv LLC
Special Warranty Deed
—
Dec 11, 2020
—
9601 Blackwell Icjv LLC
—
Deed
related
$75,000 · Capital One Bank NA
Dec 20, 2018
$42,600,000
9601 Blackwell Icjv LLC
Wellblack 1 LLC
Special Warranty Deed
$7,500,000 · Capital One NA
Jul 25, 2012
$18,100,000
Gccfc 2007-gg9 Blackwell Road
Henne Steven P
Trustees Deed
related
—
Nov 6, 2006
—
Fpi Blackwell 1 LLC
Blackwell LLC
Quit Claim Deed
related
—
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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