Leased Office Condominium
For Sale
$252,000
3321 Toledo Terrace Unit 201, Hyattsville, MD 20782
Office unit in a professionally managed condo project, leased through December 2027, with ample surrounding parking.
Property Size1,208 SF
Price / SF$208.61
Days on Market46
Property Features for 3321 Toledo Terrace Unit 201
General Information
Standard status
Active
Size
1,208 SF
Building Details
Year Built
1991
Listing Agency:
RE/MAX Allegiance
Listed By:
Leah L Webster
(571) 217-4658
Source:
Kandorre
Added: Jul 24
Changed: Aug 14
Last Checked: Sep 6 at 11:20AM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
Unit 201 is a leased office condominium within a professionally managed condominium project. The space is described as well kept and upgraded, and it remains under lease through December 2027. The seller is offering the unit for sale subject to the existing lease, with any tenant deposit and rent transferring to the new owner at settlement.
The condominium complex includes ample parking surrounding the entire property. The location is directly across from the Mall at Prince Georges, and neighboring units reflect a mix of businesses within the same condominium setting.
This offering presents an office condominium unit with maintained condition and an in-place lease, while allowing an owner-occupant or investor to take possession after the lease expires.
The condominium complex includes ample parking surrounding the entire property. The location is directly across from the Mall at Prince Georges, and neighboring units reflect a mix of businesses within the same condominium setting.
This offering presents an office condominium unit with maintained condition and an in-place lease, while allowing an owner-occupant or investor to take possession after the lease expires.
Key Highlights
- Office condominium unit in a professionally managed condo project
- Unit leased through December 2027 (tenant deposit and rent transfer to new owner at settlement)
- Year built: 1991
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
$18,454
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
7.32%
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%
$369,080
$369.1K
Cap Rate 7%
$263,629
$263.6K
Cap Rate 9%
$205,044
$205.0K
Market Conditions
NOI Build-Up for 1,208 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
$29.7K $24.60/SF
− Vacancy
−$5.1K −$4.23/SF
EGI
$24.6K $20.37/SF
− OpEx
−$6.2K −$5.09/SF
NOI
$18.5K $15.28/SF
Area
Prince George's County, MD
Vacancy
17.20%
Lease Rate
$24.60 /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%
$369,080
Cap Rate 7%
$263,629
Cap Rate 9%
$205,044
Alternative Uses
Best Use
Office B
$263.6K
$230.7K – $307.6K
NOI $18,454 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$389.7K
$341.0K – $454.7K
NOI $27,279 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 20782, MD
35,356
Population
13,312
Households
2.7
Avg Household Size
34
Median Age
37%
College-Educated
78%
High-School Grad
4.3 sq mi
ZIP Area
8,222
Density / Sq Mi
$88,226
Median Household Income
$42,862
Median Earnings
$1,789
Median Rent
$431,300
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 in a professionally managed condo project, leased through December 2027, with ample surrounding parking.
Where is this office units located?
The property is located at 3321 Toledo Terrace Unit 201 Hyattsville, MD.
What is the asking price?
The asking price for this property is $252,000.
What are key features of this property?
This property features: Office condominium unit in a professionally managed condo project; Unit leased through December 2027 (tenant deposit and rent transfer to new owner at settlement); Year built: 1991
