Professional Building Office
For Sale
$575,900
12118 /12120 Heritage Park Cir, Silver Spring, MD 20906
Office unit with high-end remodeling and assigned parking.
Property Size1,750 SF
Price / SF$329.09
Days on Market157
Property Features for 12118 /12120 Heritage Park Cir
General Information
Standard status
Active
Size
1,750 SF
Building Details
Year Built
1986
Listing Agency:
Brown Real Estate/Management Group, LLC
Listed By:
Winston E Brown
(301) 933-6001
Source:
Fulcrum-residential
Added: Apr 1
Changed: Sep 3
Last Checked: Sep 2 at 2:27PM
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 Brown Real Estate/Management Group, LLC
Investment Insights
Based on property information with market context.
This commercial real estate offers a great value within a professional building. The unit features high-end remodeling, with furnishing offered separately. Four assigned parking spaces are included, along with visitor parking. Front signage is available. The location has a walk score of 35, indicating car-dependent accessibility, a bike score of 37, indicating it is somewhat bikeable, and a transit score of 52, indicating good transit options.
Key Highlights
- Four assigned parking spaces plus visitor parking
- Front signage available
- Professional building
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
$21,387
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
3.71%
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%
$427,740
$427.7K
Cap Rate 7%
$305,529
$305.5K
Cap Rate 9%
$237,633
$237.6K
Market Conditions
NOI Build-Up for 1,750 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
$34.4K $19.68/SF
− Vacancy
−$5.9K −$3.38/SF
EGI
$28.5K $16.30/SF
− OpEx
−$7.1K −$4.07/SF
NOI
$21.4K $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 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%
$427,740
Cap Rate 7%
$305,529
Cap Rate 9%
$237,633
Alternative Uses
Best Use
Office B
$305.5K
$267.3K – $356.5K
NOI $21,387 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$615.6K
$538.7K – $718.2K
NOI $43,093 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 20906, MD
71,641
Population
27,423
Households
2.6
Avg Household Size
41
Median Age
42%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
5,641
Density / Sq Mi
$92,964
Median Household Income
$46,172
Median Earnings
$1,945
Median Rent
$440,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit with high-end remodeling and assigned parking.
Where is this office units located?
The property is located at 12118 /12120 Heritage Park Cir Silver Spring, MD.
What is the asking price?
The asking price for this property is $575,900.
What are key features of this property?
This property features: Four assigned parking spaces plus visitor parking; Front signage available; Professional building
