Office Unit with Route
22598 THREE NOTCH ROAD, Lexington Park, MD 20653
For Sale
Contact for pricing
Office space with ample parking and direct Route 235 frontage.
Property Size884 SF
Price / SF$1.81
Days on Market48
Property Features for 22598 THREE NOTCH ROAD
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Leonard Realty, Inc.
(301) 862-2300
Listed By:
Susan M Sokoloff · License #627253
(301) 997-4828
Source:
Cummingsrealtors
Added: Sep 21
Changed: Nov 6
Last Checked: Nov 6 at 10:30AM
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 Leonard Realty, Inc.
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Investment Insights
Based on property information with market context.
This office property offers a compact commercial workspace with parking on the property. The building dates to 1955 and is positioned along Route 235, with approximately 230 feet of frontage. The property is located in the California and Lexington Park area at 22598 Three Notch Road, Lexington Park, Maryland 20653.
Key Highlights
- Approximately 230 feet of frontage along Route 235
- Office property with ample parking
- Located at 22598 Three Notch Road in Lexington Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,505
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,100
$270.1K
Cap Rate 7%
$192,929
$192.9K
Cap Rate 9%
$150,056
$150.1K
Market Conditions
NOI Build-Up for 884 SF
Gross rent
$21.7K $24.60/SF
− Vacancy
−$3.7K −$4.23/SF
EGI
$18.0K $20.37/SF
− OpEx
−$4.5K −$5.09/SF
NOI
$13.5K $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 Rate 5%
$270,100
Cap Rate 7%
$192,929
Cap Rate 9%
$150,056
Alternative Uses
Best Use
Office B
$192.9K
$168.8K – $225.1K
NOI $13,505 @ 7.0% cap · market cap 844.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$327.8K
$286.9K – $382.5K
NOI $22,948 @ 7.0% cap · market cap 1,434.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
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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
$341,900
Median Home Value
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Market
Average Price Trend$/SF for Office Units in St. Mary's County, MD
Properties on Market for Office Units in St. Mary's County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office space with ample parking and direct Route 235 frontage.
Where is this office unit located?
The property is located at 22598 THREE NOTCH ROAD Lexington Park, MD.
What are key features of this property?
This property features: Approximately 230 feet of frontage along Route 235; Office property with ample parking; Located at 22598 Three Notch Road in Lexington Park
