Iconic Rockville Office Building For
101 S Washington St, Rockville, MD 20850
For Sale
$1,495,000
Rare opportunity to own the iconic Lamar House.
Property Size4,160 SF
Lot Size0.26 Acres
Price / SF$359.38
Days on Market227
Property Features for 101 S Washington St
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
RORY S. COAKLEY REALTY, INC.
(301) 340-8700
Listed By:
KATHLEEN C MEYER · License #507110
(240) 422-0765
Source:
Corcoran
Added: Mar 26
Changed: Aug 8
Last Checked: Aug 26 at 7:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RORY S. COAKLEY REALTY, INC.
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Investment Insights
Based on property information with market context.
This commercial property, also known as the Washington Building, is located at 101 S Washington Street in downtown Rockville, MD. Situated just a block from the Maryland District Court and the Rockville District Courthouse, this Metro location provides convenient access to I-270, I-495, Rockville Pike, and the various restaurants, shops, and amenities of Rockville Town. Originally constructed as a single-family residence, the stately Georgian Revival Colonial was thoughtfully converted into an office building in the 1950s, with a rear addition added around 1980. The updated and well-maintained property features an estimated 4,160 square feet on the first and second levels, along with a bonus third floor level of approximately 576 square feet and a lower level that offers ample storage space. The recently renovated first floor includes high ceilings, hardwood floors, wood trim, a vestibule, a reception room, a large conference room (or additional office), four nice-sized offices, an open work area, and two powder rooms. The second level features six additional offices, a second large open work area, and two additional powder rooms. The stately structure includes a slate roof, an attractive front porch, and a covered back entrance. A large parking lot can accommodate approximately 13 cars.
Key Highlights
- Prime location: One block from Maryland District Court and Rockville District Courthouse in downtown Rockville.
- Excellent accessibility: Metro location with easy access to I‑270, I‑495, and Rockville Pike.
- Substantial square footage: Approximately 4,160 SF on the first and second levels, plus a bonus third floor (576 SF) and ample storage in the lower level.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,841
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,016,820
$1.0M
Cap Rate 7%
$726,300
$726.3K
Cap Rate 9%
$564,900
$564.9K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$81.9K $19.68/SF
− Vacancy
−$14.1K −$3.38/SF
EGI
$67.8K $16.30/SF
− OpEx
−$16.9K −$4.07/SF
NOI
$50.8K $12.22/SF
Area
Montgomery County, MD
Vacancy
17.20%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,016,820
Cap Rate 7%
$726,300
Cap Rate 9%
$564,900
Alternative Uses
Best Use
Office B
$726.3K
$635.5K – $847.4K
NOI $50,841 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.71M
NOI $102,437 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,179
Businesses Nearby
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Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Montgomery County, MD
Properties on Market for Office buildings in Montgomery County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Rare opportunity to own the iconic Lamar House.
Where is this office building located?
The property is located at 101 S Washington St Rockville, MD.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Prime location: One block from Maryland District Court and Rockville District Courthouse in downtown Rockville.; Excellent accessibility: Metro location with easy access to I‑270, I‑495, and Rockville Pike.; Substantial square footage: Approximately 4,160 SF on the first and second levels, plus a bonus third floor (576 SF) and ample storage in the lower level.
