La Plata Condominium Units
For Sale
$865,000
200 Howard St #101 & 200, La Plata, MD 20646
Two condominium units in La Plata, currently 100% leased.
Property Size4,933 SF
Price / SF$175.35
Days on Market334
Property Features for 200 Howard St #101 & 200
General Information
Standard status
Active
Size
4,933 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,748
Building Details
Year Built
1998
Listing Agency:
HOOPER & ASSOCIATES
(301) 870-5841
Listed By:
ANNE M HOOPER · License #628757
Source:
Corcoran
Added: Sep 17, 2025
Changed: Aug 13
Last Checked: Aug 16 at 5:34AM
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 HOOPER & ASSOCIATES
Investment Insights
Based on property information with market context.
This portfolio sale features two condominium units located in the heart of La Plata, totaling approximately 4,933 square feet. Unit #101 comprises approximately 1,944 square feet, while Unit #200 offers approximately 2,939 square feet. The property is currently 100% leased by four tenants with various lease terms. The second-floor tenant would consider an early release from the lease for an owner occupant. Zoned CB - Central Business (Town of La Plata). Public water and sewer services are available. The property benefits from a prime location approximately 0.1 miles from the Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall. The condominium units share access to a large adjacent parking lot with 36 unreserved striped spaces, owned exclusively by the Condo Association. This property is suitable for investment or owner occupancy.
Key Highlights
- Prime location: Approx. 0.1 miles from Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall.
- Investment or owner‑occupant opportunity: Portfolio sale of two condominium units totaling approx. 4,933 SF.
- Currently 100% leased with potential for early release: Second‑floor tenant may consider early lease termination for owner occupancy.
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
$75,359
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
8.71%
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%
$1,507,180
$1.5M
Cap Rate 7%
$1,076,557
$1.1M
Cap Rate 9%
$837,322
$837.3K
Market Conditions
NOI Build-Up for 4,933 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
$121.4K $24.60/SF
− Vacancy
−$20.9K −$4.23/SF
EGI
$100.5K $20.37/SF
− OpEx
−$25.1K −$5.09/SF
NOI
$75.4K $15.28/SF
Area
Charles 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%
$1,507,180
Cap Rate 7%
$1,076,557
Cap Rate 9%
$837,322
Alternative Uses
Best Use
Office B
$1.08M
$942.0K – $1.26M
NOI $75,359 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$69.27M
$60.61M – $80.81M
NOI $4,848,693 @ 7.0% cap · market cap 560.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 20646, MD
20,411
Population
8,263
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
95%
High-School Grad
79.8 sq mi
ZIP Area
256
Density / Sq Mi
$130,008
Median Household Income
$62,409
Median Earnings
$1,486
Median Rent
$435,100
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 - Two condominium units in La Plata, currently 100% leased.
Where is this office units located?
The property is located at 200 Howard St #101 & 200 La Plata, MD.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Prime location: Approx. 0.1 miles from Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall.; Investment or owner‑occupant opportunity: Portfolio sale of two condominium units totaling approx. 4,933 SF.; Currently 100% leased with potential for early release: Second‑floor tenant may consider early lease termination for owner occupancy.
