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    Two-Story Flex Office Building Title is generated by Realmo AI

    12231 Parklawn Dr, Rockville, MD 20852

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    Two-story flex/office facility with dedicated loading and fenced outdoor area for secure parking or storage.

    Type:Office
    Property size:
    22,384 SF
    Lot size:
    0.88 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:38 am

    Property Features for 12231 Parklawn Dr

    General Information

    Standard status
    Active
    Size
    22,384 SF
    Lot size
    0.88 Acres
    Property subtype
    Office

    We can help!

    Listing Contact
    Paul
    Paul "Rocky" Kern

    Listing agent Paul "Rocky" Kern

    Listing office Lincoln Property Company | Rockville

    Listing date Jun 2, 2026

    Source Lpc

    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 Lincoln Property Company | Rockville

    HighLights

    • 22,384 SF two‑story flex/office building with 11,192 SF per floor
    • 0.88‑acre lot with 65 on‑site parking spaces and a fenced‑in area for secure parking or outdoor storage
    • Dedicated loading dock and functional layout for office, flex, or light industrial use
    • IL zoning (Montgomery County) with FAR 1.0 and 50' building height
    • Convenient Rockville access to I‑270, Rockville Pike (MD‑355), and the Twinbrook Metro (Red Line)

    Overview

    This versatile two-story flex/office building offers approximately 11,192 SF per floor, supporting a flexible mix of office, flex, and light industrial operations. The property is designed for practical day-to-day use, including a dedicated loading area to support deliveries and logistics. In addition to the building’s interior layout, there is a fenced-in lot that can be used for secure parking or outdoor storage, giving operators extra room to manage equipment, vehicles, or inventory outside.

    Set on 0.88 acres in a well-connected Rockville business district, the site includes approximately 65 on-site parking spaces, helping accommodate employees, clients, and staff as needed. The location is described as providing easy access to I-270 and Rockville Pike (MD-355), with connectivity to the Twinbrook Metro (Red Line) for additional transportation options.

    The configuration and site features make this property a strong fit for contractors, engineering firms, assembly users, and non-profits looking for a functional, adaptable space. With on-site parking, operational loading, and outdoor storage options, it can work well for tenants that need both office support and flexible workspace for hands-on work.
    Location Intelligence

    Current Use by Public Records

    Wm Dumpster Rental ... General Contractor Floy Portable Toilet ... Building Supply Forrester Construction Construction Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Nem Ps Touch (Authentic West African cuisine) — 5104 Parklawn Terrace #204, Rockville, MD 20852
    • Beyond Flavor — Across MOM súperMarket, 5566 Randolph Rd, Rockville, MD 20852
    • Complete International — 5100 Parklawn Terrace, Rockville, MD 20852
    • Relish Catering DC — 12159 Nebel St, North Bethesda, MD 20852
    • Gwenie's Pastries — 12113 Nebel St, Rockville, MD 20852

    Location Insight

    • Map
    • Local Demand
    City
    Rockville
    County
    Montgomery
    State
    Maryland
    Longitude
    -77.1095046
    Latitude
    39.0585303

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    FAQs

    What type of property is this?
    Flex space - Two-story flex/office facility with dedicated loading and fenced outdoor area for secure parking or storage.
    Where is this flex space located?
    The property is located at 12231 Parklawn Dr Rockville, MD.
    What are key features of this property?
    This property features: 22,384 SF two‑story flex/office building with 11,192 SF per floor; 0.88‑acre lot with 65 on‑site parking spaces and a fenced‑in area for secure parking or outdoor storage; Dedicated loading dock and functional layout for office, flex, or light industrial use
    (301) 304-8300
    We can help!
    Listing Contact
    Paul
    Paul "Rocky" Kern
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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