Penthouse Residential
New
For Sale
$725,000
10401 GROSVENOR PLACE Unit 1705, Rockville, MD 20852
The residence includes two garage parking spaces, dedicated storage and an in-unit washer and dryer.
Property Size3,240 SF
Price / SF$223.77
Days on Market6
Property Features for 10401 GROSVENOR PLACE Unit 1705
General Information
Standard status
Active
Size
3,240 SF
Total Parking Spaces
2
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,851
Amenities
outdoor pool
fitness center
on-site market
dry cleaner
in-unit washer/dryer
storage
built-in bar
two-sided fireplace
Building Details
Building Size
3,240 SF
Year Built
1966
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Jane Fairweather · License #75353
(240) 223-4663
Source:
Kerishull
Added: Sep 22
Changed: Sep 27
Last Checked: Sep 26 at 3:12PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 3,240-square-foot penthouse residence was built in 1966 and features parquet flooring, an updated kitchen, and a large living room with a two-sided fireplace. A separate bedroom wing has en-suite bathrooms, while the primary suite includes two bathrooms, multiple closets, and a separate sitting room or office. The dining room has built-in cabinetry and a bar, and the home also offers outdoor space and extensive window frontage. An in-unit washer and dryer, storage, and two garage parking spaces are included.
The residence is in Grosvenor Park, a short walk from Grosvenor-Strathmore Metro. Community amenities include an outdoor pool, fitness center, market, and dry cleaner.
The residence is in Grosvenor Park, a short walk from Grosvenor-Strathmore Metro. Community amenities include an outdoor pool, fitness center, market, and dry cleaner.
Key Highlights
- 3,240‑square‑foot penthouse residence
- Primary suite with two bathrooms, multiple closets and a separate sitting room or office
- Two‑sided fireplace in the living room
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
$53,496
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
7.38%
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%
$1,069,920
$1.1M
Cap Rate 7%
$764,229
$764.2K
Cap Rate 9%
$594,400
$594.4K
Market Conditions
NOI Build-Up for 3,240 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
$104.6K $32.28/SF
− Vacancy
−$7.3K −$2.26/SF
EGI
$97.3K $30.02/SF
− OpEx
−$43.8K −$13.51/SF
NOI
$53.5K $16.51/SF
Area
Montgomery County, MD
Vacancy
7.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,069,920
Cap Rate 7%
$764,229
Cap Rate 9%
$594,400
Alternative Uses
Best Use
Apartment 5plus
$764.2K
$668.7K – $891.6K
NOI $53,496 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$997.3K – $1.33M
NOI $79,783 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 20852, MD
48,347
Population
23,023
Households
2.1
Avg Household Size
38
Median Age
74%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,969
Density / Sq Mi
$121,496
Median Household Income
$74,519
Median Earnings
$2,212
Median Rent
$646,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes two garage parking spaces, dedicated storage and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 10401 GROSVENOR PLACE Unit 1705 Rockville, MD.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,240‑square‑foot penthouse residence; Primary suite with two bathrooms, multiple closets and a separate sitting room or office; Two‑sided fireplace in the living room
