Top-Floor Office Condo
77 S Washington St, Rockville, MD 20850
For Sale
Contact for pricing
Two contiguous office condo suites with reception, conference, windowed offices, and shared access in a top-floor setting.
Property Size1,244 SF
Price / SF$225.08
Days on Market808
Property Features for 77 S Washington St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Financials
Asking Price
HOA Fee
Additional Details
Floor
Public Transit
Office Units
Building Details
Buildings
Stories
Listing Agency:
Jay Clogg Realty Group, Inc.
(301) 340-9400
Listed By:
Jay Clogg · License #67699
Source:
Moodyscre
Added: Aug 23, 2024
Changed: Oct 25
Last Checked: Nov 8 at 7:22AM
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.
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Investment Insights
Based on property information with market context.
Office condo suite offerings in Rockville, MD at 77 S Washington St, located on the top floor of a 3-story building. Suite 302 offers approximately 1,844 usable SF, and Suite 308 offers approximately 1,244 usable SF. When combined, Suites 302 and 308 total approximately 3,088 usable SF.
Both contiguous office condos feature a reception area, conference room, open work area, and multiple windowed offices. The building is one block to the courthouse and two blocks to METRO, providing convenient access for staff and visiting clients.
If both suites are purchased, seven dedicated underground parking spaces in the garage are included.
Both contiguous office condos feature a reception area, conference room, open work area, and multiple windowed offices. The building is one block to the courthouse and two blocks to METRO, providing convenient access for staff and visiting clients.
If both suites are purchased, seven dedicated underground parking spaces in the garage are included.
Key Highlights
- Suite 302: approx. 1,844 usable SF
- Suite 308: approx. 1,244 usable SF
- Suites 302 & 308 together: approx. 3,088 usable SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,203
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,060
$304.1K
Cap Rate 7%
$217,186
$217.2K
Cap Rate 9%
$168,922
$168.9K
Market Conditions
NOI Build-Up for 1,244 SF
Gross rent
$24.5K $19.68/SF
− Vacancy
−$4.2K −$3.38/SF
EGI
$20.3K $16.30/SF
− OpEx
−$5.1K −$4.07/SF
NOI
$15.2K $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 Rate 5%
$304,060
Cap Rate 7%
$217,186
Cap Rate 9%
$168,922
Alternative Uses
Best Use
Office B
$217.2K
$190.0K – $253.4K
NOI $15,203 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$437.6K
$382.9K – $510.6K
NOI $30,633 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
3,179
Businesses Nearby
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Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Rockville, MD
Properties on Market for Office Units in Rockville
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two contiguous office condo suites with reception, conference, windowed offices, and shared access in a top-floor setting.
Where is this office unit located?
The property is located at 77 S Washington St Rockville, MD.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: Suite 302: approx. 1,844 usable SF; Suite 308: approx. 1,244 usable SF; Suites 302 & 308 together: approx. 3,088 usable SF
