Downtown Office Condominium
For Sale
$865,000
200 HOWARD Street, La Plata, MD 20646
Commercial Sale - LA PLATA, MD
Property Size4,933 SF
Price / SF$175.35
Days on Market346
Property Features for 200 HOWARD Street
General Information
Property type
Other
Property subtype
Office
Parking
36
Parking features
Parking Lot
Middle school
MILTON M. SOMERS
High school
LA PLATA
Elementary school district
CHARLES COUNTY PUBLIC SCHOOLS
Middle school district
CHARLES COUNTY PUBLIC SCHOOLS
High school district
CHARLES COUNTY PUBLIC SCHOOLS
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
5748
Building Details
Year built
1998
Number of units
2
Building materials
Block, Brick
Listing Agency:
Hooper & Associates
(301) 870-5841
Listed By:
Anne M Hooper · License #628757
(301) 870-5841
Added: Sep 18, 2025
Changed: Jun 17
Last Checked: Aug 29 at 5:06PM
MLS# MDCH2047374
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The offering includes two office condominium units totaling approximately 4,933 SF. Unit #101 is occupied and leased to two tenants under various lease terms, and Unit #200 is vacant and available for lease. The condominium association provides shared access to a large adjacent parking lot with 36 unreserved, striped parking spaces, owned and maintained exclusively by the association.
Located within the Town of La Plata and zoned CB (Central Business), the property is served by public water and sewer. It is approximately 0.1 miles from the Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall, supporting straightforward convenience for office users and business operations.
This configuration suits investors seeking a small, two-unit office portfolio with an existing occupied unit and a separately marketable vacant unit. It may also appeal to owner-occupants who want nearby downtown access while retaining the ability to lease the additional unit. Lease agreements and related information are available upon request.
Located within the Town of La Plata and zoned CB (Central Business), the property is served by public water and sewer. It is approximately 0.1 miles from the Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall, supporting straightforward convenience for office users and business operations.
This configuration suits investors seeking a small, two-unit office portfolio with an existing occupied unit and a separately marketable vacant unit. It may also appeal to owner-occupants who want nearby downtown access while retaining the ability to lease the additional unit. Lease agreements and related information are available upon request.
Key Highlights
- Two office condominium units totaling approx. 4,933 SF: Unit #101 (1,944 SF) and Unit #200 (2,939 SF).
- Unit #101 is leased to two tenants under various lease terms, with one office listed for lease at $450/month.
- Unit #200 is vacant and listed for lease at $3,076/month plus utilities and CAM.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,359
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,507,180
$1.5M
Cap Rate 7%
$1,076,557
$1.1M
Cap Rate 9%
$837,322
$837.3K
Market Conditions
NOI Build-Up for 4,933 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$121.4K $24.60/SF
− Vacancy
−$20.9K −$4.23/SF
EGI
$100.5K $20.37/SF
− OpEx
−$25.1K −$5.09/SF
NOI
$75.4K $15.28/SF
Area
Charles County, MD
Vacancy
17.20%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,507,180
Cap Rate 7%
$1,076,557
Cap Rate 9%
$837,322
Alternative Uses
Best Use
Office B
$1.08M
$942.0K – $1.26M
NOI $75,359 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$69.27M
$60.61M – $80.81M
NOI $4,848,693 @ 7.0% cap · market cap 560.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 20646, MD
20,411
Population
8,263
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
95%
High-School Grad
79.8 sq mi
ZIP Area
256
Density / Sq Mi
$130,008
Median Household Income
$62,409
Median Earnings
$1,486
Median Rent
$435,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two office condominium units offer leasing flexibility, including a vacant suite, with shared access to 36 parking spaces.
Where is this office units located?
The property is located at 200 HOWARD Street La Plata, MD.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Two office condominium units totaling approx. 4,933 SF: Unit #101 (1,944 SF) and Unit #200 (2,939 SF).; Unit #101 is leased to two tenants under various lease terms, with one office listed for lease at $450/month.; Unit #200 is vacant and listed for lease at $3,076/month plus utilities and CAM.
