Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    106 N Summit Ave Gaithersburg, MD 20877

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $775,000

    17,678 SF site zoned CBD in Gaithersburg.

    Lot size:
    0.41 Acres

    Property Features for 106 N Summit Ave

    General Information

    Standard status
    Active
    Lot size
    0.41 Acres

    Building Details

    Year built
    2007

    We can help!

    Listing Contact
    Jack Alexander
    Jack Alexander
    Source: Exitrealty

    Listing Agency: AMR Commercial, LLC Listing Agent: Jack Alexander

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Gaithersburg CBD Zoned Land

    This 17,678 square foot site is zoned CBD – Central Business District in the City of Gaithersburg. The zoning is intended for townhome development, retail, or office use. The property is located on a corner at the intersection of Lee Street, providing easy access to I-270 and Route 355. It is within walking distance of the historic Old Towne Gaithersburg shopping and restaurant district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Gaithersburg
    County
    Montgomery
    State
    Maryland
    Longitude
    -77.1928724
    Latitude
    39.144783

    Nearby Similar for Sale

    • $699,000
      0.23 Acres

      Gaithersburg Cottage: Versatile Commercial Opportunity

      Charming cottage in Gaithersburg's Residential Buffer Zone, suitable for business.
      1 Montgomery Ave, Gaithersburg, MD 20877
      View Details
    • New
      $275,000

      Gaithersburg Spa & Salon Space

      Spa and hair salon space in a thriving commercial hub.
      4 Professional Dr, Gaithersburg, MD 20879
      View Details
    • Contact for pricing
      0.71 Acres

      Equipped Barbershop/Salon in Gaithersburg

      Turnkey barbershop/salon space for immediate occupancy in central Gaithersburg.
      431 N Frederick Ave, Gaithersburg, MD 20877
      View Details
    • $4,000,000
      78.06 Acres

      Prime Farmland with Grain Storage

      Almost 80 acres with agricultural and storage facilities in Gaithersburg.
      7511 Damascus Rd, Gaithersburg, MD 20882
      View Details
    • $450,000

      Gaithersburg Class A Office Space

      Full-service Class A office space for sale in Gaithersburg, MD.
      17B Firstfield Rd, Gaithersburg, MD 20878
      View Details
    • $688,000

      Gaithersburg Class A Office Space

      Full-service Class A office space available for purchase in Gaithersburg.
      17B Firstfield Rd, Gaithersburg, MD 20878
      View Details
    • $520,000

      Shady Grove Office Condo Package

      Two adjacent condos in Shady Grove Professional Park.
      8909-8911 Shady Grove Ct, Gaithersburg, MD 20877
      View Details
    • $335,000

      Shady Grove Updated Office Condo

      Updated commercial condo near Shady Grove Hospital and Metro.
      9025 Shady Grove Ct, Gaithersburg, MD 20877
      View Details
    • $450,000

      Class A Office For Sale

      Full-service Class A office units available for purchase.
      17B Firstfield Rd, Gaithersburg, MD 20878
      View Details
    • $400,000

      Updated Medical Office For Sale

      Move-in ready medical office in Montgomery County, Maryland.
      604 S Frederick Ave, Gaithersburg, MD 20877
      View Details
    • $699,000

      Charming Cottage in Gaithersburg

      Unique cottage in prime location, ideal for business or residential.
      1 Montgomery Ave, Gaithersburg, MD 20877
      View Details
    • $230,000

      Gaithersburg Office Suite For Sale

      1192 sq ft office suite with lease in place.
      438 N Frederick Ave, Gaithersburg, MD 20877
      View Details

    FAQs

    What type of property is this?
    Commercial land - 17,678 SF site zoned CBD in Gaithersburg.
    Where is this commercial land located?
    The property is located at 106 N Summit Ave Gaithersburg, MD.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: - Large 17,678 sq ft site zoned CBD for townhomes, retail, or office.; - Prime corner location at Lee Street intersection.; - Easy access to I-270 and Route 355.
    (301) 961-9696
    Request Owner's contact information
    106 N Summit Ave Gaithersburg, MD 20877
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    106 N Summit Ave
    Gaithersburg, MD 20877
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    106 N Summit Ave Gaithersburg, MD 20877
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jack Alexander
    Jack Alexander
    (301) 961-9696
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!