Medical Office Space with Elevator
17902 GEORGIA AVENUE #200, Olney, MD 20832
For Sale
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Built-out medical office suites offer flexible configurations, reserved parking, elevator access, and separate utility metering.
Property Size2,168 SF
Price / SF$2.91
Days on Market52
Property Features for 17902 GEORGIA AVENUE #200
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Realty ONE Group Capital
(202) 932-5100
Listed By:
John J Akhavan · License #SP98369525
(703) 522-6444
Source:
Cummingsrealtors
Added: Sep 17
Changed: Nov 5
Last Checked: Nov 4 at 4:30PM
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 Realty ONE Group Capital
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Investment Insights
Based on property information with market context.
Professionally built-out medical office space at 17902 Georgia Avenue #200 supports medical and dental practice uses. The current configuration is 2,068 square feet, with options ranging from 1,000 to 3,168 square feet. Suites include elevator access, water and electric service, and reserved parking. The property was built in 1990 and provides on-site visitor parking, with additional parking across the street.
The office is located in Olney, Maryland, along Georgia Avenue. Tenant signage is permitted at the tenant’s expense. Lease terms include a five-year initial term with a five-year renewal option and 3% annual escalations. Utilities are paid separately, taxes are prorated above the 2025 base year, and the tenant is responsible for HVAC and roof maintenance.
The office is located in Olney, Maryland, along Georgia Avenue. Tenant signage is permitted at the tenant’s expense. Lease terms include a five-year initial term with a five-year renewal option and 3% annual escalations. Utilities are paid separately, taxes are prorated above the 2025 base year, and the tenant is responsible for HVAC and roof maintenance.
Key Highlights
- Flexible suite sizes from 1,000 to 3,168 SF
- Current configuration measures 2,068 SF
- Five reserved parking spaces with elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,496
Suggested Prices Based on Cap Rates
Cap Rate 5%
$529,920
$529.9K
Cap Rate 7%
$378,514
$378.5K
Cap Rate 9%
$294,400
$294.4K
Market Conditions
NOI Build-Up for 2,168 SF
Gross rent
$42.7K $19.68/SF
− Vacancy
−$7.3K −$3.38/SF
EGI
$35.3K $16.30/SF
− OpEx
−$8.8K −$4.07/SF
NOI
$26.5K $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%
$529,920
Cap Rate 7%
$378,514
Cap Rate 9%
$294,400
Alternative Uses
Best Use
Healthcare Medical
$487.1K
$426.2K – $568.3K
NOI $34,096 @ 7.0% cap · market cap 541.21%
Second Best
Office B
$378.5K
$331.2K – $441.6K
NOI $26,496 @ 7.0% cap · market cap 420.57%
Theoretical Best
Specialty Retail
$762.7K
$667.3K – $889.8K
NOI $53,386 @ 7.0% cap · market cap 847.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,409
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 20832, MD
25,969
Population
8,581
Households
3
Avg Household Size
43
Median Age
64%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
2,705
Density / Sq Mi
$166,892
Median Household Income
$72,309
Median Earnings
$2,429
Median Rent
$601,300
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Montgomery County, MD
Properties on Market for Medical Office Space in Montgomery County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Unleashed Vaccination Clinic — 3134 Olney Sandy Spring Rd, Olney, MD 20832
- Banfield Pet Hospital — 18163 Village Center Dr, Olney, MD 20832
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out medical office suites offer flexible configurations, reserved parking, elevator access, and separate utility metering.
Where is this medical office space located?
The property is located at 17902 GEORGIA AVENUE #200 Olney, MD.
What are key features of this property?
This property features: Flexible suite sizes from 1,000 to 3,168 SF; Current configuration measures 2,068 SF; Five reserved parking spaces with elevator access
