Corner Residential Income
For Sale
$499,000
11700 OLD GEORGETOWN ROAD Unit 1007, North Bethesda, MD 20852
10th-floor condominium residence with hardwood floors, oversized balcony, upgraded kitchen, and two assigned garage parking spaces.
Property Size1,145 SF
Price / SF$435.81
Days on Market33
Property Features for 11700 OLD GEORGETOWN ROAD Unit 1007
General Information
Standard status
Active
Size
1,145 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,459
Amenities
24-hour concierge and security
business center
clubroom
fitness center
outdoor pool
courtyard with BBQ grills
hardwood floors
in-unit washer and dryer
private balcony
upgraded kitchen
Building Details
Building Size
1,145 SF
Year Built
2006
Listing Agency:
Redfin Corp
(571) 278-8008
Listed By:
Mandy Kaur · License #0642190
(571) 278-8008
Source:
Kerishull
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 30 at 11:58PM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This 10th-floor corner condominium residence at The Sterling offers approximately 1,145 square feet with two bedrooms and two bathrooms. The open layout features hardwood flooring, floor-to-ceiling windows, and an oversized private balcony. The kitchen includes granite countertops, stainless steel appliances, extensive cabinetry, and generous work space. A primary suite with an en-suite bath and an in-unit washer and dryer complete the interior. The property was built in 2006.
Two assigned garage parking spaces accompany the residence. Building amenities include 24-hour concierge and security, a business center, clubroom, fitness center, outdoor pool, landscaped courtyard, BBQ grills, and seating areas. The North Bethesda (White Flint) Metro is steps away, while Pike & Rose is directly across the street with restaurants, shopping, entertainment, and a movie theater. Grocery stores, a market, I-495, and I-270 are also nearby.
Two assigned garage parking spaces accompany the residence. Building amenities include 24-hour concierge and security, a business center, clubroom, fitness center, outdoor pool, landscaped courtyard, BBQ grills, and seating areas. The North Bethesda (White Flint) Metro is steps away, while Pike & Rose is directly across the street with restaurants, shopping, entertainment, and a movie theater. Grocery stores, a market, I-495, and I-270 are also nearby.
Key Highlights
- Approximately 1,145 square feet with 2 bedrooms and 2 bathrooms
- 10th‑floor corner residence with floor‑to‑ceiling windows and oversized private balcony
- Hardwood flooring throughout the residence
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
$18,905
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
3.79%
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%
$378,100
$378.1K
Cap Rate 7%
$270,071
$270.1K
Cap Rate 9%
$210,056
$210.1K
Market Conditions
NOI Build-Up for 1,145 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
$37.0K $32.28/SF
− Vacancy
−$2.6K −$2.26/SF
EGI
$34.4K $30.02/SF
− OpEx
−$15.5K −$13.51/SF
NOI
$18.9K $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%
$378,100
Cap Rate 7%
$270,071
Cap Rate 9%
$210,056
Alternative Uses
Best Use
Apartment 5plus
$270.1K
$236.3K – $315.1K
NOI $18,905 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$402.8K
$352.4K – $469.9K
NOI $28,195 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,590
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 10th-floor condominium residence with hardwood floors, oversized balcony, upgraded kitchen, and two assigned garage parking spaces.
Where is this residential income property located?
The property is located at 11700 OLD GEORGETOWN ROAD Unit 1007 North Bethesda, MD.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 1,145 square feet with 2 bedrooms and 2 bathrooms; 10th‑floor corner residence with floor‑to‑ceiling windows and oversized private balcony; Hardwood flooring throughout the residence
