Office and Retail Units for
For Sale
$649,900
4601 N Park Avenue Unit 11C & 12C, Chevy Chase, MD 20815
Two combined interior office/retail units with multiple private offices, kitchenette, and two dedicated garage spaces.
Property Size1,248 SF
Price / SF$520.75
Days on Market237
Property Features for 4601 N Park Avenue Unit 11C & 12C
General Information
Standard status
Active
Size
1,248 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Office Units
2
Building Details
Year Built
1975
Listing Agency:
Samson Properties
Listed By:
John M Burgess
(202) 996-4300
Source:
Ournexthouse
Added: Dec 28, 2025
Changed: Aug 21
Last Checked: Aug 21 at 11:26AM
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 sale offers two separate units that can work for office and/or retail use, sold together. The combined interior totals 1,248 SF and includes a glass door entry, a reception area with a built-in desk and counter, 6 to 7 private offices, a kitchenette/breakroom, and 2.5 bathrooms. Interior finishes and features include recessed and fluorescent lighting, built-in shelving, bookcases and file cabinets, and carpet flooring throughout. Each unit is also paired with one dedicated garage space that is taxed separately, provided as one space per unit.
The property is located at 4601 N Park Avenue, Unit 11C & 12C in Chevy Chase, MD 20815. Availability of on-site garage parking spaces supports tenant and customer convenience, particularly for daily access and client visits.
With a reception area, multiple private offices, and a functional kitchenette/breakroom, the space is well suited for professional office users who want dedicated work areas within a single combined offering. The built-in storage and existing office layout can help streamline move-in planning, while the glass door entry and flexible office-versus-retail configuration make it appropriate for users looking for a space that can accommodate both customer-facing and back-office needs.
The property is located at 4601 N Park Avenue, Unit 11C & 12C in Chevy Chase, MD 20815. Availability of on-site garage parking spaces supports tenant and customer convenience, particularly for daily access and client visits.
With a reception area, multiple private offices, and a functional kitchenette/breakroom, the space is well suited for professional office users who want dedicated work areas within a single combined offering. The built-in storage and existing office layout can help streamline move-in planning, while the glass door entry and flexible office-versus-retail configuration make it appropriate for users looking for a space that can accommodate both customer-facing and back-office needs.
Key Highlights
- Two separate office/retail units sold together with a combined 1,248 SF interior
- Interior layout includes glass door entry, reception area, kitchenette/breakroom, and multiple private offices (6–7)
- Features 2.5 bathrooms plus recessed lighting and fluorescent lighting
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
$28,682
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
4.41%
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%
$573,640
$573.6K
Cap Rate 7%
$409,743
$409.7K
Cap Rate 9%
$318,689
$318.7K
Market Conditions
NOI Build-Up for 1,248 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
$43.7K $35.04/SF
− Vacancy
−$2.8K −$2.21/SF
EGI
$41.0K $32.83/SF
− OpEx
−$12.3K −$9.85/SF
NOI
$28.7K $22.98/SF
Area
Montgomery County, MD
Vacancy
6.30%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
30.00%
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%
$573,640
Cap Rate 7%
$409,743
Cap Rate 9%
$318,689
Alternative Uses
Best Use
Retail
$409.7K
$358.5K – $478.0K
NOI $28,682 @ 7.0% cap · market cap 4.41%
Second Best
Office B
$217.9K
$190.7K – $254.2K
NOI $15,252 @ 7.0% cap · market cap 2.35%
Theoretical Best
Specialty Retail
$439.0K
$384.1K – $512.2K
NOI $30,731 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
3,695
Businesses Nearby
Explore this area
Business Placement
Demographics for 20815, MD
31,517
Population
14,192
Households
2.2
Avg Household Size
46
Median Age
85%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,836
Density / Sq Mi
$198,243
Median Household Income
$106,711
Median Earnings
$2,408
Median Rent
$1,230,700
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Two combined interior office/retail units with multiple private offices, kitchenette, and two dedicated garage spaces.
Where is this office units located?
The property is located at 4601 N Park Avenue Unit 11C & 12C Chevy Chase, MD.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two separate office/retail units sold together with a combined 1,248 SF interior; Interior layout includes glass door entry, reception area, kitchenette/breakroom, and multiple private offices (6–7); Features 2.5 bathrooms plus recessed lighting and fluorescent lighting
