Medical Office Condo with Waiting
For Sale
$250,000
3 Washington Cir NW Unit 206, Washington, DC 20037
The suite includes private offices, a waiting area, and an in-suite restroom within a mixed-use high-rise.
Property Size481 SF
Price / SF$519.75
Days on Market42
Property Features for 3 Washington Cir NW Unit 206
General Information
Standard status
Active
Size
481 SF
Additional Details
Public Transit
Yes
Building Details
Year Built
1981
Listing Agency:
Coldwell Banker Realty - Washington
(240) 731-5562
Listed By:
Harry N Dunstan III · License #SP98373104
Source:
Elkaimpropertygroup
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 28 at 12:44PM
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 Coldwell Banker Realty - Washington
Investment Insights
Based on property information with market context.
This 481-square-foot medical office condo is located in a high-rise building completed in 1981. The suite provides two private offices, a dedicated waiting area, and an in-suite restroom, supporting medical or professional office use.
The property is at 3 Washington Cir NW, Unit 206, in Washington, DC. The building includes more than 50 residential units and multiple office condominiums. The Foggy Bottom–GWU Metro station, serving the Orange and Blue Lines, is steps away, with restaurants, shopping, and major institutions in the surrounding area.
The property is at 3 Washington Cir NW, Unit 206, in Washington, DC. The building includes more than 50 residential units and multiple office condominiums. The Foggy Bottom–GWU Metro station, serving the Orange and Blue Lines, is steps away, with restaurants, shopping, and major institutions in the surrounding area.
Key Highlights
- 481‑square‑foot medical office condo in a high‑rise building
- Two private offices plus a dedicated waiting area
- In‑suite restroom
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
$15,273
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
6.11%
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%
$305,460
$305.5K
Cap Rate 7%
$218,186
$218.2K
Cap Rate 9%
$169,700
$169.7K
Market Conditions
NOI Build-Up for 481 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
$24.2K $50.40/SF
− Vacancy
−$3.9K −$8.06/SF
EGI
$20.4K $42.34/SF
− OpEx
−$5.1K −$10.58/SF
NOI
$15.3K $31.75/SF
Area
Washington, DC
Vacancy
16.00%
Lease Rate
$50.40 /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%
$305,460
Cap Rate 7%
$218,186
Cap Rate 9%
$169,700
Alternative Uses
Best Use
Office B
$218.2K
$190.9K – $254.6K
NOI $15,273 @ 7.0% cap · market cap 6.11%
Second Best
Healthcare Medical
$127.4K
$111.5K – $148.7K
NOI $8,921 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$247.4K
$216.5K – $288.7K
NOI $17,319 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17,858
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20037, DC
14,945
Population
8,828
Households
1.7
Avg Household Size
29
Median Age
90%
College-Educated
99%
High-School Grad
0.7 sq mi
ZIP Area
21,350
Density / Sq Mi
$98,917
Median Household Income
$69,480
Median Earnings
$2,420
Median Rent
$743,700
Median Home Value
Market
Vacancy Rate% for Office in Washington, DC
Questions? Ask Rey
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- Home Care for Animals — 1250 Connecticut Ave NW STE 200, Washington, DC 20036
- Dupont Veterinary Clinic — 2022 P St NW, Washington, DC 20036
Frequently Asked Questions
What type of property is this?
Medical Office Space - The suite includes private offices, a waiting area, and an in-suite restroom within a mixed-use high-rise.
Where is this medical office space located?
The property is located at 3 Washington Cir NW Unit 206 Washington, DC.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 481‑square‑foot medical office condo in a high‑rise building; Two private offices plus a dedicated waiting area; In‑suite restroom
