Two-Level Residential
For Sale
$500,000
316 PARK AVENUE Unit 6-316, Gaithersburg, MD 20877
Townhouse-style living includes an attached garage, private balcony, and condominium ownership.
Property Size2,597 SF
Price / SF$192.53
Days on Market8
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Property Features for 316 PARK AVENUE Unit 6-316
General Information
Standard status
Active
Size
2,597 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,760
Building Details
Building Size
2,597 SF
Year Built
2013
Listing Agency:
Samson Properties
Listed By:
Sergio E Garcia · License #649441
(240) 994-8866
Source:
Thehulsmangroup
Added: Oct 8
Changed: Oct 15
Last Checked: Oct 15 at 5:44AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This 2,597-square-foot condominium, built in 2013, spans two levels and has three bedrooms and 2.5 baths. The main floor connects a living room, formal dining room, and family room with a kitchen appointed with granite counters, stainless-steel appliances, a gas range, pantry, and breakfast-bar seating. A sliding door opens from the family room to a private balcony. Upstairs, a flexible bonus area joins the bedrooms and laundry. The primary suite includes a walk-in closet and private bath with a double vanity, soaking tub, and separate shower; the two other bedrooms share a full bath.
Parking includes a one-car attached garage and driveway space for a second vehicle. The property is in Summit Crossing Condominium, near the Gaithersburg MARC station on the Brunswick Line and Olde Towne Gaithersburg.
Parking includes a one-car attached garage and driveway space for a second vehicle. The property is in Summit Crossing Condominium, near the Gaithersburg MARC station on the Brunswick Line and Olde Towne Gaithersburg.
Key Highlights
- 2,597 square feet with three bedrooms and 2.5 baths
- Two‑level layout with a private balcony
- Attached one‑car garage and driveway parking for a second vehicle
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,880
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,600
$857.6K
Cap Rate 7%
$612,571
$612.6K
Cap Rate 9%
$476,444
$476.4K
Market Conditions
NOI Build-Up for 2,597 SF
Gross rent
$83.8K $32.28/SF
− Vacancy
−$5.9K −$2.26/SF
EGI
$78.0K $30.02/SF
− OpEx
−$35.1K −$13.51/SF
NOI
$42.9K $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 Rate 5%
$857,600
Cap Rate 7%
$612,571
Cap Rate 9%
$476,444
Alternative Uses
Best Use
Apartment 5plus
$612.6K
$536.0K – $714.7K
NOI $42,880 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$913.6K
$799.4K – $1.07M
NOI $63,949 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
Explore this area
Business Placement
Demographics for 20877, MD
37,577
Population
13,599
Households
2.8
Avg Household Size
36
Median Age
35%
College-Educated
76%
High-School Grad
5.6 sq mi
ZIP Area
6,710
Density / Sq Mi
$86,103
Median Household Income
$39,341
Median Earnings
$1,862
Median Rent
$462,500
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Townhouse-style living includes an attached garage, private balcony, and condominium ownership.
Where is this residential income property located?
The property is located at 316 PARK AVENUE Unit 6-316 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,597 square feet with three bedrooms and 2.5 baths; Two‑level layout with a private balcony; Attached one‑car garage and driveway parking for a second vehicle
