Building Details

Buildings 1

Stories 4

Listing Agency: Jay Clogg Realty Group, Inc. Show Phone

Listed By: Jay Clogg · License #67699

Source: Moodyscre

Added: Feb 11 Changed: Oct 8 Last Checked: Oct 16 at 11:16AM

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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 adjoining office condominium units comprise the entire top floor of a four-story office building, providing a substantial professional setting with a varied mix of private and collaborative areas. The interior includes a reception area, five windowed offices, two glass-enclosed conference rooms, a workspace for more than 10 cubicles, two kitchenettes, a break room, file storage, an IT room, and a mail and file room. Eight HVAC systems serve the space, and the existing furniture may remain if desired.

The property is at 903 Russell Ave in Gaithersburg, one block from Route 355. Access is positioned near the Montgomery Village Avenue and Watkins Mill Road exits from I-270. Free parking is available on site.

Key Highlights

• 4,657 SF of office condominium space across two contiguous units
• Entire top floor of a 4‑story office building
• Reception area, 5 windowed offices, and conference rooms for 12 and 6

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,915

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,138,300 $1.1M

Cap Rate 7%

$813,071 $813.1K

Cap Rate 9%

$632,389 $632.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,657 SF

Gross rent

$91.6K $19.68/SF

− Vacancy

−$15.8K −$3.38/SF

EGI

$75.9K $16.30/SF

− OpEx

−$19.0K −$4.07/SF

NOI

$56.9K $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%

$1,138,300

Cap Rate 7%

$813,071

Cap Rate 9%

$632,389

Alternative Uses

Best Use

Office B

$813.1K

$711.4K – $948.6K (±1% cap)

NOI $56,915 @ 7.0% cap · market cap 3.16%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.64M

$1.43M – $1.91M (±1% cap)

NOI $114,676 @ 7.0% cap · market cap 6.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Dr. Stuart Taylor Pediatrician The Arora Group Employment Agency Pediatric and Adolescent Care, ... Pediatrician Kristen Johnston Pediatrician Amanda Flood Physician

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Storage Facility Garden Center HVAC Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,911

Businesses Nearby

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Full top-floor office condominium offering private offices, conference rooms, kitchenettes, and dedicated workplace support areas.

Where is this office units located?

The property is located at 903 Russell Ave Gaithersburg, MD.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 4,657 SF of office condominium space across two contiguous units; Entire top floor of a 4‑story office building; Reception area, 5 windowed offices, and conference rooms for 12 and 6