Freestanding Office
For Sale
Contact for pricing
Pending
22870 Three Notch Rd, California, MD 20619
Small office building on Route 235 with strong road frontage and current tax office use.
Property Size2,600 SF
Days on Market102
Property Features for 22870 Three Notch Rd
General Information
Standard status
Pending
Size
2,600 SF
Class
B
Property subtype
Retail, Office
Zoning
RMX
Investment Type
Owner/User
Site & Location
Traffic Count
60,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Hyatt Commercial
Listed By:
Nick G. Stellway · License #MD 5007878
(443) 584-4494
Source:
Crexi
Added: May 27
Changed: Aug 8
Last Checked: Aug 3 at 2:07PM
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 Hyatt Commercial
Investment Insights
Based on property information with market context.
This small commercial office building offers approximately 2,600 SF and is currently operated as a tax office. The layout provides a practical setup for professional services and other office-based uses, with the possibility of residential conversion subject to zoning approval.
The property is located on highly visible Route 235 (Three Notch Road) in California, Maryland, with strong road frontage and exposure along a major commercial corridor. It sits directly across from a Walmart Supercenter, providing convenient access and visibility for day-to-day business.
For businesses seeking an office building on a heavily traveled retail corridor, this property combines a straightforward current use with flexible options pending zoning review.
The property is located on highly visible Route 235 (Three Notch Road) in California, Maryland, with strong road frontage and exposure along a major commercial corridor. It sits directly across from a Walmart Supercenter, providing convenient access and visibility for day-to-day business.
For businesses seeking an office building on a heavily traveled retail corridor, this property combines a straightforward current use with flexible options pending zoning review.
Key Highlights
- Small commercial office building on Route 235 (Three Notch Road) in California, MD
- Approximately 2,600 SF, currently operating as a tax office
- Approx. 60,000 vehicles per day along the corridor for strong traffic exposure
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
$39,719
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
8.83%
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%
$794,380
$794.4K
Cap Rate 7%
$567,414
$567.4K
Cap Rate 9%
$441,322
$441.3K
Market Conditions
NOI Build-Up for 2,600 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
$64.0K $24.60/SF
− Vacancy
−$11.0K −$4.23/SF
EGI
$53.0K $20.37/SF
− OpEx
−$13.2K −$5.09/SF
NOI
$39.7K $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%
$794,380
Cap Rate 7%
$567,414
Cap Rate 9%
$441,322
Alternative Uses
Best Use
Office B
$567.4K
$496.5K – $662.0K
NOI $39,719 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$964.2K
$843.7K – $1.12M
NOI $67,495 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
60,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 20619, MD
14,179
Population
6,028
Households
2.4
Avg Household Size
35
Median Age
48%
College-Educated
96%
High-School Grad
16.1 sq mi
ZIP Area
881
Density / Sq Mi
$114,848
Median Household Income
$72,218
Median Earnings
$2,015
Median Rent
$364,200
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 building - Small office building on Route 235 with strong road frontage and current tax office use.
Where is this office building located?
The property is located at 22870 Three Notch Rd California, MD.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Small commercial office building on Route 235 (Three Notch Road) in California, MD; Approximately 2,600 SF, currently operating as a tax office; Approx. 60,000 vehicles per day along the corridor for strong traffic exposure
