Contiguous Office Condominiums
For Sale
Contact for pricing
3405 Olandwood Ct, Olney, MD 20832
Office condos with private offices and open work area.
Property Size3,706 SF
Price / SF$155.15
Days on Market1111
Property Features for 3405 Olandwood Ct
General Information
Standard status
Active
Size
3,706 SF
Property subtype
Office
Building Details
Stories
2
Listing Agency:
Jay Clogg Realty Group Inc
Listed By:
John Arensmeyer · License #MD 84024
(301) 340-9400
Source:
Crexi
Added: Sep 21, 2023
Changed: Sep 24
Last Checked: Oct 5 at 6:10PM
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.
Available for purchase are two or four contiguous office condominiums. Two units offer 1,853 square feet, featuring multiple private offices and an open work area. The combined four units provide 3,706 square feet and encompass the entire second floor of the building, benefiting from windows on all four sides, also including multiple private offices and an open work area. The annual real estate taxes for two units (7/1/25-6/30/26) are $7,091.94, with a condo fee of $425 per unit. For all four units, the annual real estate taxes (7/1/25-6/30/26) amount to $14,243.88, with the same condo fee of $425 per unit.
Key Highlights
- Option to purchase two (1,853 SF) or four (3,706 SF) contiguous office condominiums.
- Multiple private offices and open work area suitable for various business needs.
- Entire second floor availability with the purchase of four units.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,292
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,840
$905.8K
Cap Rate 7%
$647,029
$647.0K
Cap Rate 9%
$503,244
$503.2K
Market Conditions
NOI Build-Up for 3,706 SF
Gross rent
$72.9K $19.68/SF
− Vacancy
−$12.5K −$3.38/SF
EGI
$60.4K $16.30/SF
− OpEx
−$15.1K −$4.07/SF
NOI
$45.3K $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%
$905,840
Cap Rate 7%
$647,029
Cap Rate 9%
$503,244
Alternative Uses
Best Use
Office B
$647.0K
$566.2K – $754.9K
NOI $45,292 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,258 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 20832, MD
25,969
Population
8,581
Households
3
Avg Household Size
43
Median Age
64%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
2,705
Density / Sq Mi
$166,892
Median Household Income
$72,309
Median Earnings
$2,429
Median Rent
$601,300
Median Home Value
Check the figures for this property
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 - Office condos with private offices and open work area.
Where is this office units located?
The property is located at 3405 Olandwood Ct Olney, MD.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Option to purchase two (1,853 SF) or four (3,706 SF) contiguous office condominiums.; Multiple private offices and open work area suitable for various business needs.; Entire second floor availability with the purchase of four units.**
