Storefront with Spa
New
For Sale
$795,000
938 Bonifant St, Silver Spring, MD 20910
The single-level interior includes spa rooms, a full bath with shower, and central HVAC.
Property Size1,530 SF
Price / SF$519.61
Days on Market3
Property Features for 938 Bonifant St
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,734
Amenities
retail signage facing Bonifant St
central HVAC system
2 tiled rooms with floor drains
laminate floors
glass storefront
acoustical drop ceiling with lights
stackable washer/dryer
utility sink
hot water heater
alarm system
front and rear doors
full bath with shower
Building Details
Year Built
1954
Buildings
1
Stories
1
Construction
brick
Listing Agency:
COMMERCIAL & INVESTMENT REALTY ASSOCIATES, LLC.
(301) 530-6085
Listed By:
LAWRENCE ROSEN · License #5158
(301) 793-8901
Source:
Corcoran
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 2:10PM
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 COMMERCIAL & INVESTMENT REALTY ASSOCIATES, LLC.
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Investment Insights
Based on property information with market context.
This 1,530-square-foot storefront is configured for spa use and will be delivered vacant at settlement. The one-level space has a full bath with shower, two tiled rooms with floor drains for sauna or steam equipment, laminate flooring, and an 8′7″ acoustical drop ceiling with lights. Building systems and fixtures include central HVAC with a roof-mounted Bryant unit, a stackable washer and dryer, utility sink, hot water heater, and alarm system. The glass storefront and signage face Bonifant Street; a glass-and-brick exterior and sloped membrane roof complete the building. Front and rear doors provide access, and some land is located behind the structure.
The interior may be reconfigured by a new owner. The property was built in 1954.
The interior may be reconfigured by a new owner. The property was built in 1954.
Key Highlights
- 1,530 square feet of rentable space on one level
- Spa configuration includes two tiled rooms with floor drains and a full bath with shower
- Central HVAC served by a roof‑mounted Bryant unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,164
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$703,280
$703.3K
Cap Rate 7%
$502,343
$502.3K
Cap Rate 9%
$390,711
$390.7K
Market Conditions
NOI Build-Up for 1,530 SF
Gross rent
$53.6K $35.04/SF
− Vacancy
−$3.4K −$2.21/SF
EGI
$50.2K $32.83/SF
− OpEx
−$15.1K −$9.85/SF
NOI
$35.2K $22.98/SF
Area
Montgomery County, MD
Vacancy
6.30%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$703,280
Cap Rate 7%
$502,343
Cap Rate 9%
$390,711
Alternative Uses
Best Use
Retail
$502.3K
$439.6K – $586.1K
NOI $35,164 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$538.2K
$470.9K – $627.9K
NOI $37,675 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,220
Businesses Nearby
299k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Groceries 25%
Shops & Services 13%
Hotels & Casinos 8%
Chick-fil-A
Dining
46,978 visits/mo
0.2 miles
Giant
Groceries
42,300 visits/mo
0.4 miles
Safeway
Groceries
32,489 visits/mo
0.0 miles
McDonald's
Dining
27,268 visits/mo
0.3 miles
Panera Bread
Dining
13,133 visits/mo
0.2 miles
Demographics for 20910, MD
45,610
Population
23,209
Households
2
Avg Household Size
36
Median Age
74%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,915
Density / Sq Mi
$107,994
Median Household Income
$70,022
Median Earnings
$1,992
Median Rent
$690,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- LUGO Flowers — 936 Philadelphia Ave 2nd floor, Silver Spring, MD 20910
- BethMichaels Events(Floral & Event design) — 8735 1st Ave, Silver Spring, MD 20910
Frequently Asked Questions
What type of property is this?
Storefront property - The single-level interior includes spa rooms, a full bath with shower, and central HVAC.
Where is this storefront property located?
The property is located at 938 Bonifant St Silver Spring, MD.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 1,530 square feet of rentable space on one level; Spa configuration includes two tiled rooms with floor drains and a full bath with shower; Central HVAC served by a roof‑mounted Bryant unit
