Remodeled Two-Unit Office
For Sale
$475,000
21394 GREAT MILLS ROAD, Lexington Park, MD 20653
Road-fronting office property with separate entrances, individual metering, private parking, and flexible two-suite configuration.
Property Size2,469 SF
Price / SF$192.39
Days on Market10
Property Features for 21394 GREAT MILLS ROAD
General Information
Standard status
Active
Size
2,469 SF
Property subtype
Office
Additional Details
Road Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$3,230
Amenities
Central Air, Heat Pump, A/C - Zone, Ceiling Fan(s)
3
Vinyl
Metal
Parking.
Handicap Parking, Private, Lot.
Level
Other, Central Business District, Level.
Building Details
Year Built
1950
Listing Agency:
(301) 399-3089
Listed By:
Purple Post Real Estate
(301) 399-3089
Source:
Xome
Added: Jul 31
Changed: Aug 9
Last Checked: Aug 9 at 5:09AM
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 Purple Post Real Estate
Investment Insights
Based on property information with market context.
This 2,469-square-foot office property, built in 1950, has been extensively updated for present-day occupancy. The layout provides two separately metered office units with independent entrances, while the spaces can also be used together as one larger office. Recent improvements include HVAC systems, roofing, bathrooms, lighting, and flooring.
The property fronts Great Mills Road in Lexington Park and includes a private parking lot with handicap parking. Its Central Business District setting and level site support a straightforward office configuration for an owner-user or separate occupancy arrangement.
The property fronts Great Mills Road in Lexington Park and includes a private parking lot with handicap parking. Its Central Business District setting and level site support a straightforward office configuration for an owner-user or separate occupancy arrangement.
Key Highlights
- 2,469‑square‑foot office property built in 1950
- Two separately metered office units with independent entrances
- Units can be combined into one larger office area
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
$37,718
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
7.94%
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%
$754,360
$754.4K
Cap Rate 7%
$538,829
$538.8K
Cap Rate 9%
$419,089
$419.1K
Market Conditions
NOI Build-Up for 2,469 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
$60.7K $24.60/SF
− Vacancy
−$10.4K −$4.23/SF
EGI
$50.3K $20.37/SF
− OpEx
−$12.6K −$5.09/SF
NOI
$37.7K $15.28/SF
Area
St. Mary's 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%
$754,360
Cap Rate 7%
$538,829
Cap Rate 9%
$419,089
Alternative Uses
Best Use
Office B
$538.8K
$471.5K – $628.6K
NOI $37,718 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$915.6K
$801.2K – $1.07M
NOI $64,094 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 20653, MD
25,180
Population
11,696
Households
2.2
Avg Household Size
34
Median Age
34%
College-Educated
91%
High-School Grad
33.2 sq mi
ZIP Area
758
Density / Sq Mi
$97,923
Median Household Income
$55,396
Median Earnings
$1,579
Median Rent
$341,900
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 - Road-fronting office property with separate entrances, individual metering, private parking, and flexible two-suite configuration.
Where is this office units located?
The property is located at 21394 GREAT MILLS ROAD Lexington Park, MD.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,469‑square‑foot office property built in 1950; Two separately metered office units with independent entrances; Units can be combined into one larger office area
