First-Floor End-Unit Office
For Sale
$260,000
8 RUSSELL AVENUE #101, Gaithersburg, MD 20877
Office condominium in a mixed-use building with surface and below-level parking near regional transit and major roadways.
Property Size1,086 SF
Price / SF$239.41
Days on Market57
Property Features for 8 RUSSELL AVENUE #101
General Information
Standard status
Active
Size
1,086 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
CapStar Properties
(301) 738-7777
Listed By:
Dongqing Zhang · License #36511
(240) 994-5443
Source:
Cummingsrealtors
Added: Aug 10
Changed: Oct 4
Last Checked: Oct 5 at 7:32PM
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 CapStar Properties
Investment Insights
Based on property information with market context.
This 1,086-square-foot office condominium occupies a first-floor end unit within a mixed-use building completed in 1988. Three residential floors are located above the commercial space, creating a combined office and residential building configuration. The property includes access to 30 surface parking spaces and 11 below-level parking spaces.
The office is within walking distance of the MARC train station in Old Town Gaithersburg and offers convenient connections to I-270, MD-370, the ICC, and Shady Grove Metro. The suite may accommodate professional office uses such as law, medical and healthcare, accounting, insurance, consulting, and related services, subject to applicable zoning and use approvals.
The office is within walking distance of the MARC train station in Old Town Gaithersburg and offers convenient connections to I-270, MD-370, the ICC, and Shady Grove Metro. The suite may accommodate professional office uses such as law, medical and healthcare, accounting, insurance, consulting, and related services, subject to applicable zoning and use approvals.
Key Highlights
- 1,086‑square‑foot first‑floor end‑unit office condominium
- 30 surface parking spaces plus 11 below‑level parking spaces
- Mixed‑use building with three residential stories above the office level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,661
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,220
$293.2K
Cap Rate 7%
$209,443
$209.4K
Cap Rate 9%
$162,900
$162.9K
Market Conditions
NOI Build-Up for 1,086 SF
Gross rent
$26.1K $24.00/SF
− Vacancy
−$2.6K −$2.40/SF
EGI
$23.5K $21.60/SF
− OpEx
−$8.8K −$8.10/SF
NOI
$14.7K $13.50/SF
Area
Montgomery County, MD
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,220
Cap Rate 7%
$209,443
Cap Rate 9%
$162,900
Alternative Uses
Best Use
Mixed Use
$209.4K
$183.3K – $244.4K
NOI $14,661 @ 7.0% cap · market cap 5.64%
Second Best
Office B
$189.6K
$165.9K – $221.2K
NOI $13,272 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$382.0K
$334.3K – $445.7K
NOI $26,742 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 20877, MD
37,577
Population
13,599
Households
2.8
Avg Household Size
36
Median Age
35%
College-Educated
76%
High-School Grad
5.6 sq mi
ZIP Area
6,710
Density / Sq Mi
$86,103
Median Household Income
$39,341
Median Earnings
$1,862
Median Rent
$462,500
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
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium in a mixed-use building with surface and below-level parking near regional transit and major roadways.
Where is this office units located?
The property is located at 8 RUSSELL AVENUE #101 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,086‑square‑foot first‑floor end‑unit office condominium; 30 surface parking spaces plus 11 below‑level parking spaces; Mixed‑use building with three residential stories above the office level
