Mixed-Use Building with Second-Floor
For Sale
$4,000,000
4929 BETHESDA AVENUE, Bethesda, MD 20814
Full-floor office/retail suite plus ground-floor sushi restaurant with in-place tenancy.
Property Size5,783 SF
Price / SF$691.68
Days on Market32
Property Features for 4929 BETHESDA AVENUE
General Information
Standard status
Active
Size
5,783 SF
Property subtype
Retail
Additional Details
Flexible Term
Yes
Taxes and HOA fees
Annual Taxes
$46,392
Amenities
conference room
reception area
kitchenette
shower
secure access
on-site parking
Building Details
Building Size
5,783 SF
Year Built
1955
Stories
2
Tenancy
Multi
Listing Agency:
KLNB LLC
(240) 505-9331
Listed By:
Lucas Matthew Glaeser
(240) 505-9331
Source:
Kerishull
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 23 at 8:26AM
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 KLNB LLC
Investment Insights
Based on property information with market context.
Located at 4929 Bethesda Ave in Bethesda, this mixed-use property offers an owner-user or investment configuration with ground-floor restaurant income and a full-floor second-story suite. The second floor features a corner-unit, full-floor layout with abundant natural light and secure access. The current build-out includes eight private offices, a conference room, reception area, kitchenette, and two restrooms, including one with a shower, with the flexibility to support office, retail, medical, or showroom use.
The ground floor is fully leased to Takumi Sushi. The property also includes on-site parking and walkable access to the Bethesda Metro Station, local parks, and the Capital Crescent Trail.
The second floor is approximately 3,000 SF and can be utilized in its entirety by an occupant or leased for additional income.
The ground floor is fully leased to Takumi Sushi. The property also includes on-site parking and walkable access to the Bethesda Metro Station, local parks, and the Capital Crescent Trail.
The second floor is approximately 3,000 SF and can be utilized in its entirety by an occupant or leased for additional income.
Key Highlights
- 1955‑built mixed‑use property with a fully leased ground‑floor Takumi Sushi restaurant
- Full second‑floor, approximately 3,000 SF office/retail suite with a corner‑unit, full‑floor layout
- Second‑floor build‑out includes 8 private offices, conference room, reception, and kitchenette
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
$142,403
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
3.56%
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%
$2,848,060
$2.8M
Cap Rate 7%
$2,034,329
$2.0M
Cap Rate 9%
$1,582,256
$1.6M
Market Conditions
NOI Build-Up for 5,783 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
$202.6K $35.04/SF
− Vacancy
−$12.8K −$2.21/SF
EGI
$189.9K $32.83/SF
− OpEx
−$47.5K −$8.21/SF
NOI
$142.4K $24.62/SF
Area
Montgomery County, MD
Vacancy
6.30%
Lease Rate
$35.04 /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%
$2,848,060
Cap Rate 7%
$2,034,329
Cap Rate 9%
$1,582,256
Alternative Uses
Best Use
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,403 @ 7.0% cap · market cap 3.56%
Second Best
Office B
$1.01M
$883.5K – $1.18M
NOI $70,676 @ 7.0% cap · market cap 1.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 20814, MD
31,919
Population
15,388
Households
2.1
Avg Household Size
41
Median Age
84%
College-Educated
98%
High-School Grad
4.5 sq mi
ZIP Area
7,093
Density / Sq Mi
$150,401
Median Household Income
$90,050
Median Earnings
$2,329
Median Rent
$976,500
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 - Full-floor office/retail suite plus ground-floor sushi restaurant with in-place tenancy.
Where is this office units located?
The property is located at 4929 BETHESDA AVENUE Bethesda, MD.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 1955‑built mixed‑use property with a fully leased ground‑floor Takumi Sushi restaurant; Full second‑floor, approximately 3,000 SF office/retail suite with a corner‑unit, full‑floor layout; Second‑floor build‑out includes 8 private offices, conference room, reception, and kitchenette
