Land Development
For Sale
$895,750
Pending
133 BONIFANT ROAD, Silver Spring, MD 20905
Almost 2 acres suitable for various uses or subdivision.
Property Size3,000 SF
Lot Size2.00 Acres
Days on Market460
Property Features for 133 BONIFANT ROAD
General Information
Standard status
Pending
Size
3,000 SF
Lot size
2.00 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$6,660
Building Details
Year Built
1942
Listing Agency:
Samson Properties
(202) 369-1355
Listed By:
John M Burgess · License #0225269566
(202) 369-1355
Source:
Exitrealty
Added: May 7, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:54PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This property presents an opportunity for churches and assisted living facilities. It is also suitable for independent contractors, such as landscapers, construction workers, and tradesmen, who operate from their primary residence. Investors, builders, and land developers may find this property appealing. The almost 2-acre lot can be utilized for a specific purpose or subdivided into 3 lots. The existing structure is a 3,000-square-foot, all-brick cape cod with 5 bedrooms and 2 full bathrooms, ready for updating.
Key Highlights
- Almost 2 acres of land offering significant development potential.
- Suitable for various uses including churches, assisted living facilities, independent contractors, investors, builders, and land developers.
- Potential to subdivide the property into 3 lots.
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
$49,534
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
5.53%
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%
$990,680
$990.7K
Cap Rate 7%
$707,629
$707.6K
Cap Rate 9%
$550,378
$550.4K
Market Conditions
NOI Build-Up for 3,000 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
$96.8K $32.28/SF
− Vacancy
−$6.8K −$2.26/SF
EGI
$90.1K $30.02/SF
− OpEx
−$40.5K −$13.51/SF
NOI
$49.5K $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%
$990,680
Cap Rate 7%
$707,629
Cap Rate 9%
$550,378
Alternative Uses
Best Use
Apartment 5plus
$707.6K
$619.2K – $825.6K
NOI $49,534 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.06M
$923.4K – $1.23M
NOI $73,873 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 20905, MD
17,700
Population
5,866
Households
3
Avg Household Size
44
Median Age
57%
College-Educated
96%
High-School Grad
11.8 sq mi
ZIP Area
1,500
Density / Sq Mi
$155,023
Median Household Income
$62,166
Median Earnings
$2,015
Median Rent
$640,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Almost 2 acres suitable for various uses or subdivision.
Where is this residential land & home lot located?
The property is located at 133 BONIFANT ROAD Silver Spring, MD.
What is the asking price?
The asking price for this property is $895,750.
What are key features of this property?
This property features: Almost 2 acres of land offering significant development potential.; Suitable for various uses including churches, assisted living facilities, independent contractors, investors, builders, and land developers.; Potential to subdivide the property into 3 lots.
