Listing Agency: Jay Clogg Realty Group, Inc. Show Phone

Listed By: Neil Draddy · License #517997 Show Phone

Source: Moodyscre

Added: Apr 4, 2025 Changed: Oct 9 Last Checked: Oct 15 at 2:40AM

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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.

This 979-square-foot office condominium occupies the second floor at 26215 Rdg Rd in Damascus, Maryland. The interior includes private offices alongside an open work area, providing a combination of enclosed and shared workspace within the unit.

Key Highlights

• 979‑square‑foot office condominium
• Second‑floor location
• Private offices included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,965

Cap Rate

6.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$239,300 $239.3K

Cap Rate 7%

$170,929 $170.9K

Cap Rate 9%

$132,944 $132.9K

Market Conditions

NOI Build-Up for 979 SF

Gross rent

$19.3K $19.68/SF

− Vacancy

−$3.3K −$3.38/SF

EGI

$16.0K $16.30/SF

− OpEx

−$4.0K −$4.07/SF

NOI

$12.0K $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 Rate 5%

$239,300

Cap Rate 7%

$170,929

Cap Rate 9%

$132,944

Alternative Uses

Best Use

Office B

$170.9K

$149.6K – $199.4K (±1% cap)

NOI $11,965 @ 7.0% cap · market cap 6.47%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$344.4K

$301.3K – $401.8K (±1% cap)

NOI $24,107 @ 7.0% cap · market cap 13.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

David Alvin Lee, ... Physician Damascus Dermatology & Skin ... Medical Clinic Alexa Littlejohn Physician Megan E Joesting Physician

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Law Firm HVAC Service Storage Facility Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

558

Businesses Nearby

Explore this area Business Placement

Demographics for 20872, MD

13,349

Population

4,850

Households

2.8

Avg Household Size

39

Median Age

47%

College-Educated

93%

High-School Grad

19.9 sq mi

ZIP Area

671

Density / Sq Mi

$132,804

Median Household Income

$61,547

Median Earnings

$1,675

Median Rent

$478,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - The layout combines private offices with an open work area.

Where is this office units located?

The property is located at 26215 Rdg Rd Damascus, MD.

What is the asking price?

The asking price for this property is $185,000.

What are key features of this property?

This property features: 979‑square‑foot office condominium; Second‑floor location; Private offices included