Industrial Flex Site with
For Sale
Contact for pricing
8045 Snouffer School Rd, Gaithersburg, MD 20879
Vacant industrially zoned site includes a warehouse with two drive-ins, 16-foot ceilings, and a separate office building.
Property Size6,200 SF
Lot Size1.36 Acres
Price / SF$338.71
Days on Market544
Property Features for 8045 Snouffer School Rd
General Information
Standard status
Active
Size
6,200 SF
Lot size
1.36 Acres
Property subtype
LAND
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
2
Listing Agency:
Greysteel - Corporate
(202) 280-2722
Listed By:
Zach Benlemlih · License #MD 5001223
(703) 314-7762
Source:
Moodyscre
Added: Mar 20, 2025
Changed: Aug 14
Last Checked: Sep 13 at 9:42AM
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 Greysteel - Corporate
Investment Insights
Based on property information with market context.
This industrially zoned site offers a flexible combination of warehouse and office space plus outdoor storage. The property includes a 4,000 SF warehouse with 16’ ceiling heights and two drive-ins, along with a separate 2,200 SF office building to support business operations on-site.
The site is located in Gaithersburg’s industrial corridor, with convenient access to major transportation routes including I-270 (4 miles), MD-370 (2.5 miles), and MD-355 (3 miles). The property is also adjacent to the Montgomery County Airpark.
The property will be delivered vacant upon sale, allowing for straightforward repositioning or immediate occupancy by an owner-user.
The site is located in Gaithersburg’s industrial corridor, with convenient access to major transportation routes including I-270 (4 miles), MD-370 (2.5 miles), and MD-355 (3 miles). The property is also adjacent to the Montgomery County Airpark.
The property will be delivered vacant upon sale, allowing for straightforward repositioning or immediate occupancy by an owner-user.
Key Highlights
- 1.36‑acre industrially zoned site with a 4,000 SF warehouse and a separate 2,200 SF office building
- Warehouse includes 16’ ceiling heights and two drive‑in doors for efficient loading and operations
- Property includes outdoor storage and a versatile office/warehouse/outdoor storage combination
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
$85,552
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
4.07%
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%
$1,711,040
$1.7M
Cap Rate 7%
$1,222,171
$1.2M
Cap Rate 9%
$950,578
$950.6K
Market Conditions
NOI Build-Up for 6,200 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
$146.6K $23.64/SF
− Vacancy
−$14.9K −$2.41/SF
EGI
$131.6K $21.23/SF
− OpEx
−$46.1K −$7.43/SF
NOI
$85.6K $13.80/SF
Area
Montgomery County, MD
Vacancy
10.20%
Lease Rate
$23.64 /SF/Yr
Expense Ratio
35.00%
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%
$1,711,040
Cap Rate 7%
$1,222,171
Cap Rate 9%
$950,578
Alternative Uses
Best Use
Flex RnD
$1.22M
$1.07M – $1.43M
NOI $85,552 @ 7.0% cap · market cap 4.07%
Second Best
Warehouse
$1.12M
$983.0K – $1.31M
NOI $78,642 @ 7.0% cap · market cap 3.74%
Theoretical Best
Specialty Retail
$2.18M
$1.91M – $2.54M
NOI $152,671 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 20879, MD
26,176
Population
9,008
Households
2.9
Avg Household Size
37
Median Age
42%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,044
Density / Sq Mi
$105,109
Median Household Income
$49,269
Median Earnings
$1,895
Median Rent
$433,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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- Papa's Bistro Catering — 7813 Airpark Rd, Gaithersburg, MD 20879
Frequently Asked Questions
What type of property is this?
Flex space - Vacant industrially zoned site includes a warehouse with two drive-ins, 16-foot ceilings, and a separate office building.
Where is this flex space located?
The property is located at 8045 Snouffer School Rd Gaithersburg, MD.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 1.36‑acre industrially zoned site with a 4,000 SF warehouse and a separate 2,200 SF office building; Warehouse includes 16’ ceiling heights and two drive‑in doors for efficient loading and operations; Property includes outdoor storage and a versatile office/warehouse/outdoor storage combination
