Prime Commercial Condo in Lexington
For Sale
$269,900
22335 EXPLORATION Dr 1010, Lexington Park, MD 20653
Ground-level condo ideal for medical, wellness, or professional office.
Property Size1,574 SF
Price / SF$171.47
Days on Market102
Property Features for 22335 EXPLORATION Dr 1010
General Information
Standard status
Active
Size
1,574 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
CENTURY 21 COMMERCIAL NEW MILLENNIUM
(443) 532-8776
Listed By:
Mark A Frisco Jr. · License #633534
(443) 532-8776
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 2 at 11:35AM
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 CENTURY 21 COMMERCIAL NEW MILLENNIUM
Investment Insights
Based on property information with market context.
This 1,574 square foot ground-level commercial condo is located in the Exploration Building. The suite features 7 private offices or exam rooms, a reception/waiting area, and 2 bathrooms, one of which includes a full shower. It is suitable for medical, wellness, professional office, or service-based businesses. The layout includes a central hallway design, multiple private rooms, and a larger flex office with built-in shelving and workspace. The property features wood-style flooring, neutral paint tones, and natural light. The space was most recently used as a spa/massage therapy business and was previously a dental office with plumbing/electrical still intact. The suite is fully accessible and situated on the ground floor. Approximately 20 dedicated parking spaces are available. The property is located in Lexington Park, offering visibility and proximity to major employers, retail centers, and NAS Patuxent River. Contiguous spaces may be available, potentially expanding to 2800 or even up to 6000 square feet.
Key Highlights
- Prime ground‑level commercial condo in the highly sought‑after Exploration Building.
- Versatile layout featuring 7 private offices/exam rooms, reception area, and 2 bathrooms (one with shower).
- Ideal for medical, wellness, professional office, or service‑based businesses.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.7k | $24.60 |
| − Vacancy | −$6.7k | −$4.23 |
| EGI | $32.1k | $20.37 |
| − OpEx | −$8.0k | −$5.09 |
| NOI | $24.0k | $15.28 |
1,574 SF · lease $24.60/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$343.5K
$300.6K – $400.8K
NOI $24,045 @ 7.0% cap · market cap 8.91%
Second Best
Healthcare Medical
$314.9K
$275.5K – $367.3K
NOI $22,040 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$583.7K
$510.8K – $681.0K
NOI $40,860 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground-level condo ideal for medical, wellness, or professional office.
Where is this medical office space located?
The property is located at 22335 EXPLORATION Dr 1010 Lexington Park, MD.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Prime ground‑level commercial condo in the highly sought‑after Exploration Building.; Versatile layout featuring 7 private offices/exam rooms, reception area, and 2 bathrooms (one with shower).; Ideal for medical, wellness, professional office, or service‑based businesses.
