Office Condo with Private
New
For Sale
$160,000
3233 SUPERIOR LANE, Bowie, MD 20715
Medical and professional workspace includes reception, a half bathroom, and a shared breakroom.
Property Size680 SF
Price / SF$235.29
Days on Market7
Property Features for 3233 SUPERIOR LANE
General Information
Standard status
Active
Size
680 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,800
Amenities
Central Air
3
Parking.
Lot.
Other.
Building Details
Year Built
1966
Listing Agency:
W F Chesley Real Estate, LLC.
(301) 509-5169
Listed By:
Andrew MacPherson
(301) 509-5169
Source:
Xome
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 21 at 4:38AM
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 W F Chesley Real Estate, LLC.
Investment Insights
Based on property information with market context.
This office condo at 3233 Superior Lane provides 680 square feet of medical or professional office space. The layout includes three private offices, a reception area, a half bathroom, and a common breakroom. Central air is also included, supporting a functional workplace configuration.
Superior Office Park is positioned near shopping, restaurants, public transportation, and major routes. The property was built in 1966 and includes parking as an exterior feature.
Superior Office Park is positioned near shopping, restaurants, public transportation, and major routes. The property was built in 1966 and includes parking as an exterior feature.
Key Highlights
- 680‑square‑foot office condo in Superior Office Park
- Three private offices plus a reception area
- Common breakroom and half bathroom
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
$10,388
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
6.49%
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%
$207,760
$207.8K
Cap Rate 7%
$148,400
$148.4K
Cap Rate 9%
$115,422
$115.4K
Market Conditions
NOI Build-Up for 680 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
$16.7K $24.60/SF
− Vacancy
−$2.9K −$4.23/SF
EGI
$13.9K $20.37/SF
− OpEx
−$3.5K −$5.09/SF
NOI
$10.4K $15.28/SF
Area
Prince George'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 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%
$207,760
Cap Rate 7%
$148,400
Cap Rate 9%
$115,422
Alternative Uses
Best Use
Office B
$148.4K
$129.9K – $173.1K
NOI $10,388 @ 7.0% cap · market cap 6.49%
Second Best
Healthcare Medical
$116.7K
$102.1K – $136.2K
NOI $8,170 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$219.4K
$192.0K – $255.9K
NOI $15,356 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 20715, MD
27,127
Population
9,168
Households
3
Avg Household Size
41
Median Age
48%
College-Educated
94%
High-School Grad
14.0 sq mi
ZIP Area
1,938
Density / Sq Mi
$139,962
Median Household Income
$63,411
Median Earnings
$2,523
Median Rent
$437,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Medical and professional workspace includes reception, a half bathroom, and a shared breakroom.
Where is this office units located?
The property is located at 3233 SUPERIOR LANE Bowie, MD.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 680‑square‑foot office condo in Superior Office Park; Three private offices plus a reception area; Common breakroom and half bathroom
