Two-Story Residential Income
For Sale
$624,990
89 CENTRAL AVENUE, Gaithersburg, MD 20877
Upper-level townhome-style condominium with three bedrooms, flexible living areas, and contemporary interior finishes.
Property Size2,407 SF
Price / SF$259.66
Days on Market187
Property Features for 89 CENTRAL AVENUE
General Information
Standard status
Active
Size
2,407 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Building Details
Building Size
2,407 SF
Year Built
2026
Stories
2
Listing Agency:
Keller Williams Realty Centre
(443) 579-1516
Listed By:
Nickolaus B Waldner · License #589020
(443) 579-1516
Source:
Kerishull
Added: Feb 25
Changed: Aug 29
Last Checked: Aug 30 at 11:37PM
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 Keller Williams Realty Centre
Investment Insights
Based on property information with market context.
This upper-level, two-story townhome-style condominium provides over 2,300 square feet of residential space in a three-bedroom layout. The main level combines the kitchen, dining area, and great room in an open arrangement, with quartz countertops, tile backsplash, Whirlpool stainless steel appliances, and a large island. A pocket office adds a dedicated workspace, while the rear deck extends the living area outdoors.
The upper level includes a primary suite with dual-sink quartz vanity, walk-in shower, and large walk-in closet. Two additional bedrooms are served by a full bathroom, and an upstairs laundry room includes storage. Built in 2026, the property is located in Gaithersburg, Maryland.
The upper level includes a primary suite with dual-sink quartz vanity, walk-in shower, and large walk-in closet. Two additional bedrooms are served by a full bathroom, and an upstairs laundry room includes storage. Built in 2026, the property is located in Gaithersburg, Maryland.
Key Highlights
- Over 2,300 sq. ft. of residential space
- Upper‑unit, 2‑story townhome‑style condominium
- Three‑bedroom layout with primary suite
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
$39,743
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
6.36%
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%
$794,860
$794.9K
Cap Rate 7%
$567,757
$567.8K
Cap Rate 9%
$441,589
$441.6K
Market Conditions
NOI Build-Up for 2,407 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
$77.7K $32.28/SF
− Vacancy
−$5.4K −$2.26/SF
EGI
$72.3K $30.02/SF
− OpEx
−$32.5K −$13.51/SF
NOI
$39.7K $16.51/SF
Area
Montgomery County, MD
Vacancy
7.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
45.00%
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%
$794,860
Cap Rate 7%
$567,757
Cap Rate 9%
$441,589
Alternative Uses
Best Use
Apartment 5plus
$567.8K
$496.8K – $662.4K
NOI $39,743 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$846.7K
$740.9K – $987.9K
NOI $59,271 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
701
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level townhome-style condominium with three bedrooms, flexible living areas, and contemporary interior finishes.
Where is this residential income property located?
The property is located at 89 CENTRAL AVENUE Gaithersburg, MD.
What is the asking price?
The asking price for this property is $624,990.
What are key features of this property?
This property features: Over 2,300 sq. ft. of residential space; Upper‑unit, 2‑story townhome‑style condominium; Three‑bedroom layout with primary suite
