Connected Office Condos, One
For Sale
Contact for pricing
4 Professional Drive Suites 128 & 129, Gaithersburg, MD 20879
Two connected office condos are offered together, fully finished with a reception, windowed offices, conference room, open work area, and two restrooms.
Property Size1,890 SF
Price / SF$158.20
Days on Market65
Property Features for 4 Professional Drive Suites 128 & 129
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Office
Building Details
Buildings
1
Stories
1
Listing Agency:
Jay Clogg Realty Group Inc
Listed By:
Jay Clogg · License #MD 67699
(301) 340-9400
Source:
Crexi
Added: Jul 21
Changed: Sep 20
Last Checked: Sep 22 at 2:29PM
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 Jay Clogg Realty Group Inc
Investment Insights
Based on property information with market context.
Two connected office condos are being sold together, totaling approximately 1,890 saleable square feet and located on one level with no steps. The current buildout includes a reception area, four large windowed offices, a large windowed conference room, a large windowed open work area, and two restrooms.
The property provides abundant free parking at the front door. It is located just off Route 355, with access to both the Montgomery Village Avenue and Watkins Mill Road exits off I-270.
The condos are sold together with a combined condo fee of $580 per month that includes water/sewer, structural fire insurance, roof, parking lot, snow plowing, grass cutting, common trash and recycling containers, and professional management.
The property provides abundant free parking at the front door. It is located just off Route 355, with access to both the Montgomery Village Avenue and Watkins Mill Road exits off I-270.
The condos are sold together with a combined condo fee of $580 per month that includes water/sewer, structural fire insurance, roof, parking lot, snow plowing, grass cutting, common trash and recycling containers, and professional management.
Key Highlights
- Two connected office condos sold together with approx. 1,890 total saleable SF on one level (no steps).
- Move‑in‑ready interior includes reception, four large windowed offices, a large windowed conference room, open work area, and two restrooms.
- Abundant free parking at the front door.
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
$23,098
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
7.73%
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%
$461,960
$462.0K
Cap Rate 7%
$329,971
$330.0K
Cap Rate 9%
$256,644
$256.6K
Market Conditions
NOI Build-Up for 1,890 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
$37.2K $19.68/SF
− Vacancy
−$6.4K −$3.38/SF
EGI
$30.8K $16.30/SF
− OpEx
−$7.7K −$4.07/SF
NOI
$23.1K $12.22/SF
Area
Montgomery County, MD
Vacancy
17.20%
Lease Rate
$19.68 /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%
$461,960
Cap Rate 7%
$329,971
Cap Rate 9%
$256,644
Alternative Uses
Best Use
Office B
$330.0K
$288.7K – $385.0K
NOI $23,098 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$664.9K
$581.8K – $775.7K
NOI $46,540 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 20879, MD
26,176
Population
9,008
Households
2.9
Avg Household Size
37
Median Age
42%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,044
Density / Sq Mi
$105,109
Median Household Income
$49,269
Median Earnings
$1,895
Median Rent
$433,500
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 - Two connected office condos are offered together, fully finished with a reception, windowed offices, conference room, open work area, and two restrooms.
Where is this office units located?
The property is located at 4 Professional Drive Suites 128 & 129 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two connected office condos sold together with approx. 1,890 total saleable SF on one level (no steps).; Move‑in‑ready interior includes reception, four large windowed offices, a large windowed conference room, open work area, and two restrooms.; Abundant free parking at the front door.
