Medical Office Condo
For Sale
$420,000
8909 8909-8911 Shady Grove Court 1a, Gaithersburg, MD 20877
Two connected commercial units provide a medical-office layout with separate entry options and adaptable interior areas.
Property Size1,348 SF
Price / SF$311.57
Days on Market94
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Property Features for 8909 8909-8911 Shady Grove Court 1a
General Information
Standard status
Active
Size
1,348 SF
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Built
2004
Listing Agency:
Real Broker, LLC - Annapolis
Listed By:
Sven M Skarie · License #644275
(314) 803-2406
Source:
Localrealestateleaders
Added: Jul 14
Changed: Oct 12
Last Checked: Oct 15 at 5:09AM
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 Real Broker, LLC - Annapolis
Investment Insights
Based on property information with market context.
This sale combines two adjacent condominium units configured for medical-office use. The interior includes a substantial reception and waiting area, billing and records space, a kitchenette, and four exam rooms with running water. A central counter area supports additional workspace between the exam rooms. The second unit has its own entrance, a dedicated office area, and a records room accessed through the first unit.
The property is located in Shady Grove Professional Park at 8909–8911 Shady Grove Court in Gaithersburg, Maryland. Access to I-495, I-270, and Rockville Pike (355) places the office near established business corridors. The building was constructed in 2004, and the interior can be modified to support a different floor plan.
The property is located in Shady Grove Professional Park at 8909–8911 Shady Grove Court in Gaithersburg, Maryland. Access to I-495, I-270, and Rockville Pike (355) places the office near established business corridors. The building was constructed in 2004, and the interior can be modified to support a different floor plan.
Key Highlights
- Two adjacent condo units at 8909–8911 Shady Grove Court
- Four exam rooms, each equipped with running water
- Open waiting area plus billing and records space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,200
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,000
$424.0K
Cap Rate 7%
$302,857
$302.9K
Cap Rate 9%
$235,556
$235.6K
Market Conditions
NOI Build-Up for 1,348 SF
Gross rent
$43.5K $32.28/SF
− Vacancy
−$8.2K −$6.07/SF
EGI
$35.3K $26.21/SF
− OpEx
−$14.1K −$10.48/SF
NOI
$21.2K $15.73/SF
Area
Montgomery County, MD
Vacancy
18.80%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,000
Cap Rate 7%
$302,857
Cap Rate 9%
$235,556
Alternative Uses
Best Use
Healthcare Medical
$302.9K
$265.0K – $353.3K
NOI $21,200 @ 7.0% cap · market cap 5.05%
Second Best
Office B
$235.3K
$205.9K – $274.6K
NOI $16,474 @ 7.0% cap · market cap 3.92%
Theoretical Best
Specialty Retail
$474.2K
$414.9K – $553.2K
NOI $33,194 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
Balanced
Demand for This Use
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?
Medical Office Space - Two connected commercial units provide a medical-office layout with separate entry options and adaptable interior areas.
Where is this medical office space located?
The property is located at 8909 8909-8911 Shady Grove Court 1a Gaithersburg, MD.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Two adjacent condo units at 8909–8911 Shady Grove Court; Four exam rooms, each equipped with running water; Open waiting area plus billing and records space
