Corner Residential Income
For Sale
$475,000
11801 ROCKVILLE PIKE Unit 1412, North Bethesda, MD 20852
Updated three-bedroom condominium with concierge service, garage parking, and access to shared building amenities.
Property Size1,695 SF
Price / SF$280.24
Days on Market42
Property Features for 11801 ROCKVILLE PIKE Unit 1412
General Information
Standard status
Active
Size
1,695 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,026
Building Details
Building Size
1,695 SF
Year Built
1968
Listing Agency:
Keller Williams Realty
(703) 328-6722
Listed By:
H.Lee L Cronin · License #614027
(703) 328-6722
Source:
Kerishull
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 11:18PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1,695-square-foot corner condominium residence is located in a building constructed in 1968 and offers a three-bedroom, two-and-a-half-bath layout. Windows on three sides bring natural light and added privacy to the home, while renovated kitchen and bathroom finishes, updated flooring, generous closets, and a primary suite support comfortable daily living. The L-shaped living and dining areas provide flexible space for both household use and entertaining.
Building amenities include a 24-hour concierge, outdoor pool, fitness center, tennis courts, party room, secure entry, and renovated common areas. The condo fee includes all utilities. One assigned garage parking space, number 62, conveys with the unit, with additional surface parking available for guests.
The property is one block from White Flint/North Bethesda Metro and directly across from Pike & Rose, with Whole Foods, restaurants, shopping, entertainment, and major commuter routes nearby. The residence is within the Walter Johnson High School district.
Building amenities include a 24-hour concierge, outdoor pool, fitness center, tennis courts, party room, secure entry, and renovated common areas. The condo fee includes all utilities. One assigned garage parking space, number 62, conveys with the unit, with additional surface parking available for guests.
The property is one block from White Flint/North Bethesda Metro and directly across from Pike & Rose, with Whole Foods, restaurants, shopping, entertainment, and major commuter routes nearby. The residence is within the Walter Johnson High School district.
Key Highlights
- 1,695‑square‑foot corner unit with windows on three sides
- Three‑bedroom, 2.5‑bath layout with renovated kitchen, bathrooms, and flooring
- 24‑hour concierge, outdoor pool, fitness center, tennis courts, and party 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
$27,987
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
5.89%
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%
$559,740
$559.7K
Cap Rate 7%
$399,814
$399.8K
Cap Rate 9%
$310,967
$311.0K
Market Conditions
NOI Build-Up for 1,695 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
$54.7K $32.28/SF
− Vacancy
−$3.8K −$2.26/SF
EGI
$50.9K $30.02/SF
− OpEx
−$22.9K −$13.51/SF
NOI
$28.0K $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%
$559,740
Cap Rate 7%
$399,814
Cap Rate 9%
$310,967
Alternative Uses
Best Use
Apartment 5plus
$399.8K
$349.8K – $466.5K
NOI $27,987 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$596.3K
$521.7K – $695.6K
NOI $41,738 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,678
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 - Updated three-bedroom condominium with concierge service, garage parking, and access to shared building amenities.
Where is this residential income property located?
The property is located at 11801 ROCKVILLE PIKE Unit 1412 North Bethesda, MD.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,695‑square‑foot corner unit with windows on three sides; Three‑bedroom, 2.5‑bath layout with renovated kitchen, bathrooms, and flooring; 24‑hour concierge, outdoor pool, fitness center, tennis courts, and party room
