Contiguous Office Condos Near
For Sale
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77 S Washington Street, Rockville, MD 20850
Two contiguous office condos available, near courthouse and METRO.
Property Size3,088 SF
Price / SF$190.74
Days on Market1135
Property Features for 77 S Washington Street
General Information
Standard status
Active
Size
3,088 SF
Total Parking Spaces
7
Property subtype
Office
Building Details
Stories
3
Units
2
Listing Agency:
Jay Clogg Realty Group Inc
Listed By:
Jay Clogg · License #MD 67699
(301) 340-9400
Source:
Crexi
Added: Sep 14, 2023
Changed: Oct 6
Last Checked: Oct 20 at 7:02PM
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.
Two contiguous office condos are available for purchase, either individually or combined. Located on the top floor of a 3-story building, Suite 302 offers approximately 1,844 usable square feet for $399,999, while Suite 308 provides approximately 1,244 usable square feet for $279,999. Combined, Suites 302 and 308 offer approximately 3,088 usable square feet for $620,000. Each suite includes a reception area, conference room, open work area, and multiple windowed offices. The condo fee covers all utilities, HVAC repair and replacement, structural insurance, janitorial service of common areas, and professional management. Real estate taxes for the period of 7/1/25-6/30/26 are $12,147.09 for both units, or $7,191.41 for Suite 302 and $4,955.68 for Suite 308. The property is situated one block from the courthouse and two blocks from the METRO. Purchasing both suites includes 7 dedicated underground parking spaces in the garage.
Key Highlights
- Option to purchase one or two contiguous office condos (Suite 302 and/or Suite 308).
- Excellent location: one block to courthouse and two blocks to METRO.
- Condo fee includes all utilities, HVAC repair/replacement, structural insurance, janitorial service of common areas, and professional management.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,739
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,780
$754.8K
Cap Rate 7%
$539,129
$539.1K
Cap Rate 9%
$419,322
$419.3K
Market Conditions
NOI Build-Up for 3,088 SF
Gross rent
$60.8K $19.68/SF
− Vacancy
−$10.5K −$3.38/SF
EGI
$50.3K $16.30/SF
− OpEx
−$12.6K −$4.07/SF
NOI
$37.7K $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%
$754,780
Cap Rate 7%
$539,129
Cap Rate 9%
$419,322
Alternative Uses
Best Use
Office B
$539.1K
$471.7K – $629.0K
NOI $37,739 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.09M
$950.5K – $1.27M
NOI $76,040 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,179
Businesses Nearby
Explore this area
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
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two contiguous office condos available, near courthouse and METRO.
Where is this office unit located?
The property is located at 77 S Washington Street Rockville, MD.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Option to purchase one or two contiguous office condos (Suite 302 and/or Suite 308).; Excellent location: one block to courthouse and two blocks to METRO.; Condo fee includes all utilities, HVAC repair/replacement, structural insurance, janitorial service of common areas, and professional management.
