Upgraded Office Condo in
For Sale
Contact for pricing
5836 Hubbard Drive, Rockville, MD 20852
Two-level office condo with abundant natural light and custom furniture.
Property Size1,900 SF
Price / SF$420.53
Days on Market111
Property Features for 5836 Hubbard Drive
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Office
Building Details
Stories
2
Listing Agency:
Jay Clogg Realty Group Inc
(301) 340-9400
Listed By:
Jay Clogg · License #MD 67699
Source:
Crexi
Added: May 13
Changed: Aug 21
Last Checked: Aug 29 at 5:42PM
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.
This is an approximately 1,900 saleable square feet, 2-level office condo. The end unit benefits from abundant natural light and features upgrades, including custom-made furniture. The location is in North Bethesda, at the intersection of Rockville Pike and Montrose Road, just north of Pike & Rose. The condo has separate entrances from the exterior for each floor, which are also connected internally. The first floor includes a reception area, two large windowed offices, an open work area suitable for four people, a galley-style kitchenette, a storage closet, and a private restroom. The second floor features a reception area, two large windowed offices, a windowed conference room with parquet wood flooring, an open work area for four, a storage closet, and a private restroom. There is plenty of free parking available. The condo fee is $557 per month, which includes water/sewer, structural fire insurance, and professional management. Real estate taxes for the period of 7/1/25-6/30/26 are $8,351.40.
Key Highlights
- Prime North Bethesda location near Pike & Rose, with easy access from Rockville Pike and Montrose Road.
- Highly upgraded, 2‑level end unit condo with abundant natural light and custom‑made furniture.
- Approximately 1,900 square feet of flexible office space with separate entrances for each floor.
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
$23,220
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
2.91%
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%
$464,400
$464.4K
Cap Rate 7%
$331,714
$331.7K
Cap Rate 9%
$258,000
$258.0K
Market Conditions
NOI Build-Up for 1,900 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
$37.4K $19.68/SF
− Vacancy
−$6.4K −$3.38/SF
EGI
$31.0K $16.30/SF
− OpEx
−$7.7K −$4.07/SF
NOI
$23.2K $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%
$464,400
Cap Rate 7%
$331,714
Cap Rate 9%
$258,000
Alternative Uses
Best Use
Office B
$331.7K
$290.3K – $387.0K
NOI $23,220 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$668.4K
$584.8K – $779.8K
NOI $46,786 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 20852, MD
48,347
Population
23,023
Households
2.1
Avg Household Size
38
Median Age
74%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,969
Density / Sq Mi
$121,496
Median Household Income
$74,519
Median Earnings
$2,212
Median Rent
$646,100
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-level office condo with abundant natural light and custom furniture.
Where is this office units located?
The property is located at 5836 Hubbard Drive Rockville, MD.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime North Bethesda location near Pike & Rose, with easy access from Rockville Pike and Montrose Road.; Highly upgraded, 2‑level end unit condo with abundant natural light and custom‑made furniture.; Approximately 1,900 square feet of flexible office space with separate entrances for each floor.
