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Multi-Tenant Office Building

912 Thayer Avenue Silver Spring, MD 20910

912 Thayer Avenue, Silver Spring, MD, 20910
$3,800,000
For Sale
$3,800,000

Class A office building with elevator service, multiple restrooms per floor, and both rooftop and central HVAC.

Property Size18,753 SF
Price / SF$202.63
Days on Market238

Property Features for 912 Thayer Avenue

General Information

Standard status
Active
Size
18,753 SF
Property subtype
Commercial

Building Details

Year Built
1960
Listing Agency Commercial & Investment Realty Associates,LLC.
Listed by Lawrence Rosen · License #5158
Source Deepcreeklake
Added: Nov 25, 2025 Updated: Jul 20 at 3:25 am Checked: Jul 20 at 3:25 am

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 Commercial & Investment Realty Associates,LLC.


Investment Insights

Based on property information with market context.

This owner/user or investment office building offers approximately 18,635 square feet of rentable space across three levels, with about 6,200 square feet per floor. The property is demised for multiple tenants, and the third floor is substantially set up as a single-tenant configuration that can be divided into smaller office suites and open floor areas. Building improvements include a 2005 gut-and-rebuild, metal beam and post structure, a brick and Dry-vit exterior, and a flat built-up roof system. Interior finishes include wood, carpet, ceramic, and granite tile over a concrete subfloor, along with drywall, acoustic tile, or open industrial-style ceilings and LED lighting. The building features operable double-pane insulated windows in aluminum frames, separate modern multi-stall men’s and women’s restrooms on each floor, two stairways, and an OTIS elevator with a 3,000-pound capacity. HVAC is served by a two-pipe system with mechanical equipment in the 4th-floor mechanical room, with additional rooftop units supporting the third floor and corridors. Remote control capabilities are noted for security cameras, temperature controls, and building access.

Primary access is from the grade-level Thayer Avenue vestibule/lobby entrance into a center corridor with elevator and access to suites. Parking is available via street metered spaces in front of the building along Thayer Avenue and on surrounding streets, with the property located within the Central Business District parking district.

The immediate area includes a county garage directly behind the building and additional county Metro garages across Georgia Avenue. The Purple Line is scheduled for completion near the end of 2027, with a planned station approximately 1.5 blocks away near the Silver Spring Library area, and the existing Red Line Metro station approximately three blocks away.

Key Highlights

  • 18,635± rentable SF on three levels (±6,200 SF per floor) in an office building at 912 Thayer Avenue, Silver Spring, MD 20910
  • Rebuilt/reframed and rebuilt in 2005 (originally constructed in 1960); professionally maintained since
  • Class “A” appearance with metal beam/post structure; exterior brick and Dry‑vit panels; flat built‑up roof system

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $369.1k $19.68
− Vacancy −$63.5k −$3.38
EGI $305.6k $16.30
− OpEx −$76.4k −$4.07
NOI $229.2k $12.22
18,753 SF · lease $19.68/SF/yr · vacancy 17.20% · expense 25.00%

Alternative Uses

Best Use
Office B
$3.27M
$2.86M – $3.82M (±1% cap)
NOI $229,186 @ 7.0% cap · market cap 6.03%
Second Best
no second resolved use
Theoretical Best
Specialty Retail
$6.60M
$5.77M – $7.70M (±1% cap)
NOI $461,781 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Project 216 LLC Consultant FM Talent Source Employment Agency Marilyn Riehl - State ... Insurance Agency Leslie Riehl - State ... Insurance Agency Fitness Together Gym & Fitness Center

Suggested Use

Carpet & Flooring Store Furniture & Home Goods (Bike/Boat/Book/etc) Store Florist (Bike/Boat/Book/etc) Store Garden Center Pet Store (Bike/Boat/Book/etc) Store Pet Store & Service Storage Facility

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Office building - Class A office building with elevator service, multiple restrooms per floor, and both rooftop and central HVAC.
Where is this office building located?
The property is located at 912 Thayer Avenue Silver Spring, MD.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 18,635± rentable SF on three levels (±6,200 SF per floor) in an office building at 912 Thayer Avenue, Silver Spring, MD 20910; Rebuilt/reframed and rebuilt in 2005 (originally constructed in 1960); professionally maintained since; Class “A” appearance with metal beam/post structure; exterior brick and Dry‑vit panels; flat built‑up roof system
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