First-Floor Office
For Sale
Contact for pricing
9043-9069 Shady Grove Ct, Gaithersburg, MD 20877
Accessible office condominium with an open work area, two windowed offices, and abundant free parking.
Property Size932 SF
Price / SF$348.71
Days on Market134
Property Features for 9043-9069 Shady Grove Ct
General Information
Standard status
Active
Size
932 SF
Property subtype
OFFICE
Additional Details
Floor
First floor
HOA Fee
$323
Listing Agency:
Jay Clogg Realty Group, Inc.
(301) 340-9400
Listed By:
John Arensmeyer · License #84024
(301) 370-6081
Source:
Moodyscre
Added: May 13
Changed: Sep 16
Last Checked: Sep 22 at 10:15PM
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.
Investment Insights
Based on property information with market context.
This first-floor office condo offers 932 square feet with no-step access. The current layout includes a large open work area and two windowed offices, providing a practical configuration for office operations.
The property includes abundant free parking. Real estate taxes are $3,808.02 for the period from 7/1/25 through 6/30/26, and the condo fee is $323 per month, paid quarterly.
The property includes abundant free parking. Real estate taxes are $3,808.02 for the period from 7/1/25 through 6/30/26, and the condo fee is $323 per month, paid quarterly.
Key Highlights
- First‑floor office condo with no‑step access
- 932 square feet of office space
- Large open work area plus 2 windowed offices
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
$11,390
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
3.50%
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%
$227,800
$227.8K
Cap Rate 7%
$162,714
$162.7K
Cap Rate 9%
$126,556
$126.6K
Market Conditions
NOI Build-Up for 932 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
$18.3K $19.68/SF
− Vacancy
−$3.2K −$3.38/SF
EGI
$15.2K $16.30/SF
− OpEx
−$3.8K −$4.07/SF
NOI
$11.4K $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 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%
$227,800
Cap Rate 7%
$162,714
Cap Rate 9%
$126,556
Alternative Uses
Best Use
Office B
$162.7K
$142.4K – $189.8K
NOI $11,390 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 7.06%
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
1,714
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 - Accessible office condominium with an open work area, two windowed offices, and abundant free parking.
Where is this office units located?
The property is located at 9043-9069 Shady Grove Ct Gaithersburg, MD.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: First‑floor office condo with no‑step access; 932 square feet of office space; Large open work area plus 2 windowed offices
