Ready-to-Occupy Professional Office
For Sale
Contact for pricing
20 Courthouse Sq, Rockville, MD 20850
Professional office suites for sale with multiple unit sizes, ready for occupancy across from the Montgomery County Courthouse.
Property Size1,522 SF
Price / SF$225
Days on Market812
Property Features for 20 Courthouse Sq
General Information
Standard status
Active
Size
1,522 SF
Property subtype
OFFICE
Listing Agency:
Jay Clogg Realty Group, Inc.
(301) 340-9400
Listed By:
Neil Draddy · License #517997
(301) 509-8820
Source:
Moodyscre
Added: Jun 28, 2024
Changed: Sep 2
Last Checked: Sep 16 at 4:48PM
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.
Professional office suites are available for sale, with unit sizes reported at approximately 1,324 SF up to 3,272 SF. The spaces are described as professional offices ready for occupancy.
The property is located across from the Montgomery County Courthouse and is just three blocks from the METRO.
Pricing and terms are presented with flexibility, including a possible lease price of $22.50/SF net of taxes, utilities and cleaning, along with an option to purchase. The lease price is noted as AS IS.
The property is located across from the Montgomery County Courthouse and is just three blocks from the METRO.
Pricing and terms are presented with flexibility, including a possible lease price of $22.50/SF net of taxes, utilities and cleaning, along with an option to purchase. The lease price is noted as AS IS.
Key Highlights
- Professional office suites with unit sizes from approx. 1,324 SF up to 3,272 SF
- Across from the Montgomery County Courthouse
- Just three blocks from METRO
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
$18,601
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%
$372,020
$372.0K
Cap Rate 7%
$265,729
$265.7K
Cap Rate 9%
$206,678
$206.7K
Market Conditions
NOI Build-Up for 1,522 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
$30.0K $19.68/SF
− Vacancy
−$5.2K −$3.38/SF
EGI
$24.8K $16.30/SF
− OpEx
−$6.2K −$4.07/SF
NOI
$18.6K $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%
$372,020
Cap Rate 7%
$265,729
Cap Rate 9%
$206,678
Alternative Uses
Best Use
Office B
$265.7K
$232.5K – $310.0K
NOI $18,601 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$535.4K
$468.5K – $624.6K
NOI $37,478 @ 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
Location Intelligence
Trade Area within ½ mile
3,289
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Professional office suites for sale with multiple unit sizes, ready for occupancy across from the Montgomery County Courthouse.
Where is this office units located?
The property is located at 20 Courthouse Sq Rockville, MD.
What is the asking price?
The asking price for this property is $342,450.
What are key features of this property?
This property features: Professional office suites with unit sizes from approx. 1,324 SF up to 3,272 SF; Across from the Montgomery County Courthouse; Just three blocks from METRO
