Building Details

Year Built 1965

Listing Agency: RLAH @properties j***@rlathome.com Show Phone

Listed By: Jack Wang · License #640686 Show Phone

Source: Xome

Added: Jul 26 Changed: Aug 25 Last Checked: Aug 28 at 8:24AM

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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 RLAH @properties

Investment Insights

Based on property information with market context.

This well-maintained rambler has served as a successful dental office for more than 40 years and offers a flexible live-work configuration. The main level includes hardwood flooring throughout much of the space, while the property also features a brand-new roof, an attached three-car garage, and abundant off-street parking for family, guests, clients, or employees. The lower level has a separate private entrance and dedicated side parking, with potential for a private in-law suite or rental unit.

Situated on a prominent corner lot just off Route 355, the property offers access to I-270 and is minutes from Milestone Shopping Center, Clarksburg Premium Outlets, Black Hill Regional Park, the dog park, restaurants, and everyday conveniences. The property may suit a residence, professional office, live-work space, or another permitted use.

Key Highlights

• Corner lot just off Route 355 with access to I‑270
• Served as a successful dental office for more than 40 years
• Brand‑new roof and hardwood flooring throughout much of the main level

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

$49,319

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

7.20%

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%

$986,380 $986.4K

Cap Rate 7%

$704,557 $704.6K

Cap Rate 9%

$547,989 $548.0K

Market Conditions

NOI Build-Up for 3,136 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

$101.2K $32.28/SF

− Vacancy

−$19.0K −$6.07/SF

EGI

$82.2K $26.21/SF

− OpEx

−$32.9K −$10.48/SF

NOI

$49.3K $15.73/SF

Area

Montgomery County, MD

Vacancy

18.80%

Lease Rate

$32.28 /SF/Yr

Expense Ratio

40.00%

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%

$986,380

Cap Rate 7%

$704,557

Cap Rate 9%

$547,989

Alternative Uses

Best Use

Healthcare Medical

$704.6K

$616.5K – $822.0K (±1% cap)

NOI $49,319 @ 7.0% cap · market cap 7.20%

Second Best

Mixed Use

$604.8K

$529.2K – $705.6K (±1% cap)

NOI $42,336 @ 7.0% cap · market cap 6.18%

Theoretical Best

Specialty Retail

$1.10M

$965.3K – $1.29M (±1% cap)

NOI $77,222 @ 7.0% cap · market cap 11.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Manstof Stanley R ... Dental Office Maryland Cannabis Consultants Physician Stanley Manstof Dental Office

Suggested Use

Top Pick Law Firm Spa & Massage Center Restaurant Building Supply Hair Salon Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

119

Businesses Nearby

Explore this area Business Placement

Demographics for 20841, MD

9,538

Population

3,116

Households

3.1

Avg Household Size

42

Median Age

61%

College-Educated

91%

High-School Grad

27.1 sq mi

ZIP Area

352

Density / Sq Mi

$184,276

Median Household Income

$72,419

Median Earnings

$2,794

Median Rent

$771,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this live-work space located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Live-work space - Well-maintained rambler with hardwood flooring, a new roof, an attached three-car garage, and separate lower-level access.

Where is this live-work space located?

The property is located at 12201 GREENRIDGE DRIVE Boyds, MD.

What is the asking price?

The asking price for this property is $685,000.

What are key features of this property?

This property features: Corner lot just off Route 355 with access to I‑270; Served as a successful dental office for more than 40 years; Brand‑new roof and hardwood flooring throughout much of the main level