Office Condominium with Private
New
For Sale
$925,000
438 North Frederick Avenue Suites 310 & 315, Gaithersburg, MD 20877
A contiguous third-floor suite combines dedicated work areas with shared conference, reception, kitchen, and copy spaces.
Property Size87,612 SF
Price / SF$175.06
Days on Market1
Property Features for 438 North Frederick Avenue Suites 310 & 315
General Information
Standard status
Active
Size
87,612 SF
Class
B
Property subtype
Office - General Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
3
Office Units
2
Building Details
Building Size
87,612 SF
Year Built
1982
Buildings
1
Units
2
Listing Agency:
Hyatt Commercial
Listed By:
Owen Wellschlager
Source:
Commercialcafe
Added: Oct 19
Last Checked: Oct 19 at 2:08PM
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 Hyatt Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Units 310 and 315 comprise a contiguous third-floor office condominium totaling approximately 5,284 square feet. The layout includes 16 private offices, a conference room sized for 10 people, a reception area, a full kitchen, and a separate copy room. Perimeter offices have windows, while interior rooms can serve as work areas or support space. Improvements include luxury vinyl plank flooring, white shaker cabinets, stainless-steel appliances, recessed lighting, and drop ceilings at approximately 8 feet.
At 438 North Frederick Avenue in Gaithersburg, the property fronts MD Route 355. I-270 access at MD-124 is less than a mile north, with another connection at Shady Grove Road to the south. Shady Grove Metro is approximately 4 miles away, and the Gaithersburg MARC station is roughly a mile away in Olde Towne. Gaithersburg Square and Gaitherstowne Plaza are across or along Route 355; dining, grocery, pharmacy, and banking options are within a five-minute drive. The building is within the I-270 technology and life sciences corridor.
At 438 North Frederick Avenue in Gaithersburg, the property fronts MD Route 355. I-270 access at MD-124 is less than a mile north, with another connection at Shady Grove Road to the south. Shady Grove Metro is approximately 4 miles away, and the Gaithersburg MARC station is roughly a mile away in Olde Towne. Gaithersburg Square and Gaitherstowne Plaza are across or along Route 355; dining, grocery, pharmacy, and banking options are within a five-minute drive. The building is within the I-270 technology and life sciences corridor.
Key Highlights
- Approximately 5,284 SF of contiguous third‑floor office condominium space
- 16 private offices and a conference room for 10
- Reception area, full kitchen, and dedicated copy room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,577
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,291,540
$1.3M
Cap Rate 7%
$922,529
$922.5K
Cap Rate 9%
$717,522
$717.5K
Market Conditions
NOI Build-Up for 5,284 SF
Gross rent
$104.0K $19.68/SF
− Vacancy
−$17.9K −$3.38/SF
EGI
$86.1K $16.30/SF
− OpEx
−$21.5K −$4.07/SF
NOI
$64.6K $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 Rate 5%
$1,291,540
Cap Rate 7%
$922,529
Cap Rate 9%
$717,522
Alternative Uses
Best Use
Office B
$922.5K
$807.2K – $1.08M
NOI $64,577 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,115 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,410
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A contiguous third-floor suite combines dedicated work areas with shared conference, reception, kitchen, and copy spaces.
Where is this office unit located?
The property is located at 438 North Frederick Avenue Suites 310 & 315 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Approximately 5,284 SF of contiguous third‑floor office condominium space; 16 private offices and a conference room for 10; Reception area, full kitchen, and dedicated copy room
