Corner Residential Income
For Sale
$849,990
1121 FORTUNE TERRACE Unit 1, Potomac, MD 20854
One-level elevator residence with two bedrooms, two bathrooms, and balcony storage.
Property Size1,496 SF
Price / SF$568.18
Days on Market24
Property Features for 1121 FORTUNE TERRACE Unit 1
General Information
Standard status
Active
Size
1,496 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,378
Building Details
Building Size
1,496 SF
Year Built
2026
Listing Agency:
Monument Sotheby's International Realty
(240) 274-1219
Listed By:
Joseph A Petrone
(240) 274-1219
Source:
Kerishull
Added: Jul 20
Changed: Aug 12
Last Checked: Aug 12 at 6:26AM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 2026 residential income property is a one-level condominium configured with two bedrooms and two bathrooms. The corner residence includes elevator access, an open interior arrangement, and a balcony with dedicated storage. Interior finishes include quartz countertops, stainless steel Gourmet Kitchen appliances, a ceramic tile backsplash, and luxury vinyl plank flooring throughout.
The property is located at 1121 Fortune Terrace Unit 1 in Potomac, Maryland, within Park Potomac. Restaurants and shopping are described as walkable from the residence, adding convenient access to nearby retail and dining options.
The property is located at 1121 Fortune Terrace Unit 1 in Potomac, Maryland, within Park Potomac. Restaurants and shopping are described as walkable from the residence, adding convenient access to nearby retail and dining options.
Key Highlights
- 2026 new‑construction corner condominium
- One‑level layout with elevator access
- Two bedrooms and two bathrooms
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
$24,701
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
2.91%
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%
$494,020
$494.0K
Cap Rate 7%
$352,871
$352.9K
Cap Rate 9%
$274,456
$274.5K
Market Conditions
NOI Build-Up for 1,496 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
$48.3K $32.28/SF
− Vacancy
−$3.4K −$2.26/SF
EGI
$44.9K $30.02/SF
− OpEx
−$20.2K −$13.51/SF
NOI
$24.7K $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%
$494,020
Cap Rate 7%
$352,871
Cap Rate 9%
$274,456
Alternative Uses
Best Use
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,701 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$526.3K
$460.5K – $614.0K
NOI $36,838 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 20854, MD
50,698
Population
17,119
Households
3
Avg Household Size
47
Median Age
86%
College-Educated
97%
High-School Grad
33.8 sq mi
ZIP Area
1,500
Density / Sq Mi
$250,001
Median Household Income
$118,028
Median Earnings
$3,180
Median Rent
$1,105,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - One-level elevator residence with two bedrooms, two bathrooms, and balcony storage.
Where is this residential income property located?
The property is located at 1121 FORTUNE TERRACE Unit 1 Potomac, MD.
What is the asking price?
The asking price for this property is $849,990.
What are key features of this property?
This property features: 2026 new‑construction corner condominium; One‑level layout with elevator access; Two bedrooms and two bathrooms
