Built-Out Medical Office
For Sale
$399,000
6263 EXECUTIVE BOULEVARD, Rockville, MD 20852
Office condo is built out for medical massage use and includes free surface parking.
Property Size966 SF
Price / SF$413.04
Days on Market100
Property Features for 6263 EXECUTIVE BOULEVARD
General Information
Standard status
Active
Size
966 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$3,908
Amenities
Central Air
3
Parking.
Lighted, Unassigned, Lot.
Building Details
Year Built
1984
Listing Agency:
Rory S. Coakley Realty, Inc.
(301) 370-0781
Listed By:
Rory Coakley
(301) 370-0781
Source:
Xome
Added: May 4
Changed: Aug 8
Last Checked: Aug 11 at 5:28AM
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 Rory S. Coakley Realty, Inc.
Investment Insights
Based on property information with market context.
This office condo offers approximately 966 square feet and is currently built out for medical massage use. The space is configured as an office unit within an office park.
The property is located just off I-270 & 495 and includes free surface parking at the office park.
A practical option for buyers seeking an office condo already set up for medical massage operations, with parking available on-site at the office park.
The property is located just off I-270 & 495 and includes free surface parking at the office park.
A practical option for buyers seeking an office condo already set up for medical massage operations, with parking available on-site at the office park.
Key Highlights
- 966 SF office condo just off I‑270 & 495
- Currently built out for medical massage use
- Central air cooling and heating (3)
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
$15,192
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
3.81%
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%
$303,840
$303.8K
Cap Rate 7%
$217,029
$217.0K
Cap Rate 9%
$168,800
$168.8K
Market Conditions
NOI Build-Up for 966 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
$31.2K $32.28/SF
− Vacancy
−$5.9K −$6.07/SF
EGI
$25.3K $26.21/SF
− OpEx
−$10.1K −$10.48/SF
NOI
$15.2K $15.73/SF
Area
Montgomery County, MD
Vacancy
18.80%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
40.00%
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%
$303,840
Cap Rate 7%
$217,029
Cap Rate 9%
$168,800
Alternative Uses
Best Use
Healthcare Medical
$217.0K
$189.9K – $253.2K
NOI $15,192 @ 7.0% cap · market cap 3.81%
Second Best
Office B
$168.7K
$147.6K – $196.8K
NOI $11,806 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$339.8K
$297.3K – $396.5K
NOI $23,787 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,280
Businesses Nearby
Balanced
Demand for This Use
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?
Medical Office Space - Office condo is built out for medical massage use and includes free surface parking.
Where is this medical office space located?
The property is located at 6263 EXECUTIVE BOULEVARD Rockville, MD.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 966 SF office condo just off I‑270 & 495; Currently built out for medical massage use; Central air cooling and heating (3)
