Office Condominium
For Sale
$865,000
200 HOWARD STREET Unit 101 & 200, La Plata, MD 20646
Two office condominium units offer a mix of leased and vacant space within La Plata’s CB-zoned central business district.
Property Size4,933 SF
Price / SF$175.35
Days on Market360
Property Features for 200 HOWARD STREET Unit 101 & 200
General Information
Standard status
Active
Size
4,933 SF
Property subtype
Office
Zoning
CB
Additional Details
Utilities to Site
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$5,748
Building Details
Building Size
4,933 SF
Year Built
1998
Tenancy
Multi
Listing Agency:
Hooper & Associates
Listed By:
Anne M Hooper · License #628757
(301) 870-5841
Source:
Kerishull
Added: Sep 18, 2025
Changed: Sep 9
Last Checked: Sep 12 at 8:33AM
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 office condominium portfolio includes two units totaling 4,933 SF. Unit 101 contains 1,944 SF and is occupied by two tenants under separate lease terms, while Unit 200 provides 2,939 SF of vacant office space. The property was built in 1998 and is served by public water and sewer.
Located at 200 Howard Street in La Plata, the units are approximately 0.1 miles from the Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall. The property is zoned CB (Central Business), and the condominium association owns and maintains an adjacent parking area with 36 unreserved striped spaces. Lease agreements are available upon request.
Located at 200 Howard Street in La Plata, the units are approximately 0.1 miles from the Charles County Courthouse, Charles County Government Offices, and La Plata Town Hall. The property is zoned CB (Central Business), and the condominium association owns and maintains an adjacent parking area with 36 unreserved striped spaces. Lease agreements are available upon request.
Key Highlights
- Two office condominium units totaling 4,933 SF
- Unit 101 includes 1,944 SF and two existing tenants
- Unit 200 provides 2,939 SF of vacant office space
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
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
954
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two office condominium units offer a mix of leased and vacant space within La Plata’s CB-zoned central business district.
Where is this office units located?
The property is located at 200 HOWARD STREET Unit 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: Two office condominium units totaling 4,933 SF; Unit 101 includes 1,944 SF and two existing tenants; Unit 200 provides 2,939 SF of vacant office space
