Top-Floor Office Condo
For Sale
Contact for pricing
77 S Washington St, Rockville, MD 20850
Two contiguous office condo suites with reception, conference, windowed offices, and shared access in a top-floor setting.
Property Size1,244 SF
Price / SF$225.08
Days on Market762
Property Features for 77 S Washington St
General Information
Standard status
Active
Size
1,244 SF
Total Parking Spaces
7
Property subtype
OFFICE
Financials
Asking Price
$669,999
HOA Fee
$4,005
Additional Details
Floor
Top floor
Public Transit
Yes
Office Units
2
Building Details
Buildings
1
Stories
3
Listing Agency:
Jay Clogg Realty Group, Inc.
(301) 340-9400
Listed By:
Jay Clogg · License #67699
Source:
Moodyscre
Added: Aug 23, 2024
Changed: Sep 13
Last Checked: Sep 22 at 8:00PM
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 Jay Clogg Realty Group, Inc.
Investment Insights
Based on property information with market context.
Office condo suite offerings in Rockville, MD at 77 S Washington St, located on the top floor of a 3-story building. Suite 302 offers approximately 1,844 usable SF, and Suite 308 offers approximately 1,244 usable SF. When combined, Suites 302 and 308 total approximately 3,088 usable SF.
Both contiguous office condos feature a reception area, conference room, open work area, and multiple windowed offices. The building is one block to the courthouse and two blocks to METRO, providing convenient access for staff and visiting clients.
If both suites are purchased, seven dedicated underground parking spaces in the garage are included.
Both contiguous office condos feature a reception area, conference room, open work area, and multiple windowed offices. The building is one block to the courthouse and two blocks to METRO, providing convenient access for staff and visiting clients.
If both suites are purchased, seven dedicated underground parking spaces in the garage are included.
Key Highlights
- Suite 302: approx. 1,844 usable SF
- Suite 308: approx. 1,244 usable SF
- Suites 302 & 308 together: approx. 3,088 usable SF
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
$15,203
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
5.43%
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%
$304,060
$304.1K
Cap Rate 7%
$217,186
$217.2K
Cap Rate 9%
$168,922
$168.9K
Market Conditions
NOI Build-Up for 1,244 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
$24.5K $19.68/SF
− Vacancy
−$4.2K −$3.38/SF
EGI
$20.3K $16.30/SF
− OpEx
−$5.1K −$4.07/SF
NOI
$15.2K $12.22/SF
Area
Montgomery County, MD
Vacancy
17.20%
Lease Rate
$19.68 /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%
$304,060
Cap Rate 7%
$217,186
Cap Rate 9%
$168,922
Alternative Uses
Best Use
Office B
$217.2K
$190.0K – $253.4K
NOI $15,203 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$437.6K
$382.9K – $510.6K
NOI $30,633 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
3,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Two contiguous office condo suites with reception, conference, windowed offices, and shared access in a top-floor setting.
Where is this office units located?
The property is located at 77 S Washington St Rockville, MD.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: Suite 302: approx. 1,844 usable SF; Suite 308: approx. 1,244 usable SF; Suites 302 & 308 together: approx. 3,088 usable SF
