Second-Floor Office
New
For Sale
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515 CHARLES STREET UNIT 1A, La Plata, MD 20646
Three private offices and a private restroom create a defined layout in this walk-up space.
Property Size6,336 SF
Price / SF$0.16
Days on Market4
Property Features for 515 CHARLES STREET UNIT 1A
General Information
Standard status
Active
Size
6,336 SF
Elevators
No
Property subtype
Commercial
Additional Details
Floor
2
Property Use
Office
Building Details
Year Built
1975
Listing Agency:
Hyatt Commercial
(410) 266-8800
Listed By:
Courtney D. Phipps · License #37718
(301) 861-9431
Source:
Cummingsrealtors
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 5:51PM
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
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Investment Insights
Based on property information with market context.
This second-floor office space has three private offices and one private restroom. Two offices include storage closets. Access is by stairs; the building has no elevator. The building dates to 1975.
The tenant is responsible for electricity, cable, telephone and internet, quarterly water charges, and janitorial service within the premises.
The tenant is responsible for electricity, cable, telephone and internet, quarterly water charges, and janitorial service within the premises.
Key Highlights
- Approximately 600 +/- square feet of second‑floor office space
- Three private offices and one private restroom
- Storage closets in two offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,793
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,935,860
$1.9M
Cap Rate 7%
$1,382,757
$1.4M
Cap Rate 9%
$1,075,478
$1.1M
Market Conditions
NOI Build-Up for 6,336 SF
Gross rent
$155.9K $24.60/SF
− Vacancy
−$26.8K −$4.23/SF
EGI
$129.1K $20.37/SF
− OpEx
−$32.3K −$5.09/SF
NOI
$96.8K $15.28/SF
Area
Charles 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 Rate 5%
$1,935,860
Cap Rate 7%
$1,382,757
Cap Rate 9%
$1,075,478
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,793 @ 7.0% cap · market cap 9,679.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$88.97M
$77.85M – $103.80M
NOI $6,227,715 @ 7.0% cap · market cap 622,771.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
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Business Placement
Demographics for 20646, MD
20,411
Population
8,263
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
95%
High-School Grad
79.8 sq mi
ZIP Area
256
Density / Sq Mi
$130,008
Median Household Income
$62,409
Median Earnings
$1,486
Median Rent
$435,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three private offices and a private restroom create a defined layout in this walk-up space.
Where is this office unit located?
The property is located at 515 CHARLES STREET UNIT 1A La Plata, MD.
What are key features of this property?
This property features: Approximately 600 +/- square feet of second‑floor office space; Three private offices and one private restroom; Storage closets in two offices
