May Professional Office
For Sale
Contact for pricing
23077 THREE NOTCH RD, California, MD 20619
Fully leased office property occupied by five tenants in the Lexington Park Development District.
Property Size9,040 SF
Price / SF$193.58
Days on Market190
Property Features for 23077 THREE NOTCH RD
General Information
Standard status
Active
Size
9,040 SF
Property subtype
Office
Occupancy
100%
Building Details
Year Built
2008
Stories
3
Units
7
Tenancy
Multi
Listing Agency:
RE/MAX One
Listed By:
Joe Wustner · License #MD 507038
Source:
Crexi
Added: Apr 10
Changed: Oct 10
Last Checked: Oct 14 at 8:25PM
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 RE/MAX One
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
May Professional Office Building is an office asset at 23077 Three Notch Road in California, Maryland. The property is situated within the Lexington Park Development District and is currently 100% leased to five tenants.
The surrounding area is associated with Naval Air Station Patuxent River, which employs over 25,000 people. The property’s central position has supported occupancy by tenants serving the area’s residential population. Its address places the building within the California, MD 20619 market.
The surrounding area is associated with Naval Air Station Patuxent River, which employs over 25,000 people. The property’s central position has supported occupancy by tenants serving the area’s residential population. Its address places the building within the California, MD 20619 market.
Key Highlights
- 100% leased to 5 tenants
- Located in the Lexington Park Development District
- Associated with Naval Air Station Patuxent River, which employs over 25,000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,100
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,762,000
$2.8M
Cap Rate 7%
$1,972,857
$2.0M
Cap Rate 9%
$1,534,444
$1.5M
Market Conditions
NOI Build-Up for 9,040 SF
Gross rent
$222.4K $24.60/SF
− Vacancy
−$38.3K −$4.23/SF
EGI
$184.1K $20.37/SF
− OpEx
−$46.0K −$5.09/SF
NOI
$138.1K $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%
$2,762,000
Cap Rate 7%
$1,972,857
Cap Rate 9%
$1,534,444
Alternative Uses
Best Use
Office B
$1.97M
$1.73M – $2.30M
NOI $138,100 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,675 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
545
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Fully leased office property occupied by five tenants in the Lexington Park Development District.
Where is this office building located?
The property is located at 23077 THREE NOTCH RD California, MD.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 100% leased to 5 tenants; Located in the Lexington Park Development District; Associated with Naval Air Station Patuxent River, which employs over 25,000
