Medical Office Condominium
For Sale
$250,000
22888 THREE NOTCH Road, Lexington Park, MD 20653
Commercial Sale - LEXINGTON PARK, MD
Property Size1,582 SF
Lot Size0.04 Acres
Price / SF$158.03
Days on Market50
Property Features for 22888 THREE NOTCH Road
General Information
Property type
Other
Property subtype
Office
Parking
5
Parking features
Parking Lot
Elementary school district
ST. MARY'S COUNTY PUBLIC SCHOOLS
Middle school district
ST. MARY'S COUNTY PUBLIC SCHOOLS
High school district
ST. MARY'S COUNTY PUBLIC SCHOOLS
Standard status
Active
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3133
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Building Details
Year built
2007
Number of units
1
Building materials
Brick, Stick Built
Listing Agency:
Hooper & Associates
(301) 870-5841
Listed By:
Anne M Hooper · License #628757
(301) 870-5841
Added: Jun 11
Changed: Jul 13
Last Checked: Jul 30 at 1:06PM
MLS# MDSM2031784
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
An approximately 1,582 SF office condominium suite is available in the Keystone Building. The space features a versatile open floor plan, a coffee service bar, and an ADA-compliant restroom. The building includes an attractive all-brick exterior, an elegant tiled lobby entrance, elevator access, and ample on-site parking for tenants and visitors.
The Keystone Building is conveniently located just minutes from Patuxent River Naval Air Station and provides access to Three Notch Road (MD Route 235). The property also benefits from visibility along one of Southern Maryland’s busiest commercial corridors, with exposure to over 65,000 vehicles per day on Route 235.
The unit is offered for sale as an office condominium within the Class A property, positioned to support medical and professional office use.
The Keystone Building is conveniently located just minutes from Patuxent River Naval Air Station and provides access to Three Notch Road (MD Route 235). The property also benefits from visibility along one of Southern Maryland’s busiest commercial corridors, with exposure to over 65,000 vehicles per day on Route 235.
The unit is offered for sale as an office condominium within the Class A property, positioned to support medical and professional office use.
Key Highlights
- 1,582 SF +/- office condominium in the Keystone Building
- All‑brick exterior with tiled lobby entrance and elevator access
- Open floor plan with ADA‑compliant restroom and abundant natural light
Financial Insights For Healthcare Medical
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 | $41.8k | $26.40 |
| − Vacancy | −$4.8k | −$3.06 |
| EGI | $36.9k | $23.34 |
| − OpEx | −$14.8k | −$9.34 |
| NOI | $22.2k | $14.00 |
1,582 SF · lease $26.40/SF/yr · vacancy 11.60% · expense 40.00%
Alternative Uses
Best Use
Office B
$345.3K
$302.1K – $402.8K
NOI $24,168 @ 7.0% cap · market cap 9.67%
Second Best
Healthcare Medical
$316.5K
$276.9K – $369.2K
NOI $22,152 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$586.7K
$513.4K – $684.5K
NOI $41,068 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
65,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
438
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 - Office condominium in the Keystone Building with open layout, ADA restroom, coffee service bar, and elevator access.
Where is this office units located?
The property is located at 22888 THREE NOTCH Road Lexington Park, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,582 SF +/- office condominium in the Keystone Building; All‑brick exterior with tiled lobby entrance and elevator access; Open floor plan with ADA‑compliant restroom and abundant natural light
