Building Details

Building Size 951 SF

Year Built 1987

Listing Agency: Keller Williams Realty Centre j**@keating-group.com Show Phone

Listed By: Jim Keating · License #647152 Show Phone

Source: Kw

Added: Oct 23, 2025 Changed: Aug 12 Last Checked: Aug 20 at 7:29PM

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Investment Insights

Based on property information with market context.

This 2-bedroom condominium is located in the Damascus Gardens community. The garden-style unit offers 951 square feet of living space. The property has been recently updated and provides comfortable living in a residential setting. The open floor plan includes a spacious living area with natural light, a wood-burning fireplace, and an efficient kitchen layout. The home features ample-sized bedrooms. The location provides proximity to shopping, dining, and parks in Damascus. The monthly condo fee includes water.

Key Highlights

• Updated 2‑bedroom condominium in the desirable Damascus Gardens community
• Open floor plan with spacious, light‑filled living area and efficient kitchen
• Features a wood‑burning fireplace

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

$15,702

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

7.34%

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%

$314,040 $314.0K

Cap Rate 7%

$224,314 $224.3K

Cap Rate 9%

$174,467 $174.5K

Market Conditions

NOI Build-Up for 951 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

$30.7K $32.28/SF

− Vacancy

−$2.1K −$2.26/SF

EGI

$28.5K $30.02/SF

− OpEx

−$12.8K −$13.51/SF

NOI

$15.7K $16.51/SF

Area

Montgomery County, MD

Vacancy

7.00%

Lease Rate

$32.28 /SF/Yr

Expense Ratio

45.00%

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%

$314,040

Cap Rate 7%

$224,314

Cap Rate 9%

$174,467

Alternative Uses

Best Use

Apartment 5plus

$224.3K

$196.3K – $261.7K (±1% cap)

NOI $15,702 @ 7.0% cap · market cap 7.34%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$334.5K

$292.7K – $390.3K (±1% cap)

NOI $23,418 @ 7.0% cap · market cap 10.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Building Supply Electrical Service Locksmith HVAC Service Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

417

Businesses Nearby

Explore this area Business Placement

Demographics for 20872, MD

13,349

Population

4,850

Households

2.8

Avg Household Size

39

Median Age

47%

College-Educated

93%

High-School Grad

19.9 sq mi

ZIP Area

671

Density / Sq Mi

$132,804

Median Household Income

$61,547

Median Earnings

$1,675

Median Rent

$478,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Charming 2-bedroom condo with updated features and convenient location.

Where is this apartment building located?

The property is located at 26008 BRIGADIER PL PLACE #C Damascus, MD.

What is the asking price?

The asking price for this property is $214,000.

What are key features of this property?

This property features: Updated 2‑bedroom condominium in the desirable Damascus Gardens community; Open floor plan with spacious, light‑filled living area and efficient kitchen; Features a wood‑burning fireplace