Office Condominium with Open
22888 Three Notch Rd Unit 301, Lexington Park, MD 20653
For Sale
$250,000
Flexible office condominium with natural light, elevator access, and an ADA-compliant restroom.
Property Size1,582 SF
Price / SF$158.03
Days on Market83
Property Features for 22888 Three Notch Rd Unit 301
General Information
Standard status
Size
Class
Elevators
Additional Details
Road Access
Amenities
coffee service bar
ADA-compliant restroom
tiled lobby entrance
Building Details
Year Built
Construction
Listing Agency:
Hooper & Associates
Listed By:
Anne M Hooper · License #628757
(443) 977-9613
Source:
Southjerseyshorehomesfinder
Added: Aug 19
Changed: Oct 25
Last Checked: Oct 7 at 2:53PM
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 Hooper & Associates
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Investment Insights
Based on property information with market context.
This 1,582 SF ± office condominium occupies Unit 301 in the Keystone Building, a Class A office property completed in 2007. The suite features an open floor plan, coffee service bar, abundant natural light, and an ADA-compliant restroom. Its configuration supports medical, professional, or service-oriented office use as described for the property.
The building offers an all-brick exterior, tiled lobby entry, elevator service, and on-site parking for tenants and visitors. The property is located minutes from Patuxent River Naval Air Station and provides access to Three Notch Road, also identified as MD Route 235. Exposure along the corridor is reported at over 65,000 vehicles per day.
The building offers an all-brick exterior, tiled lobby entry, elevator service, and on-site parking for tenants and visitors. The property is located minutes from Patuxent River Naval Air Station and provides access to Three Notch Road, also identified as MD Route 235. Exposure along the corridor is reported at over 65,000 vehicles per day.
Key Highlights
- 1,582 SF ± office condominium in Unit 301
- Open floor plan with coffee service bar and abundant natural light
- ADA‑compliant restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,152
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,040
$443.0K
Cap Rate 7%
$316,457
$316.5K
Cap Rate 9%
$246,133
$246.1K
Market Conditions
NOI Build-Up for 1,582 SF
Gross rent
$41.8K $26.40/SF
− Vacancy
−$4.8K −$3.06/SF
EGI
$36.9K $23.34/SF
− OpEx
−$14.8K −$9.34/SF
NOI
$22.2K $14.00/SF
Area
St. Mary's County, MD
Vacancy
11.60%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,040
Cap Rate 7%
$316,457
Cap Rate 9%
$246,133
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.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
470
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
$341,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Flexible office condominium with natural light, elevator access, and an ADA-compliant restroom.
Where is this office unit located?
The property is located at 22888 Three Notch Rd Unit 301 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 Unit 301; Open floor plan with coffee service bar and abundant natural light; ADA‑compliant restroom
