Two-Unit Office
For Sale
Contact for pricing
945 Russell Ave, Gaithersburg, MD 20879
Adjoining office suites in a Class B building near I-270 and Route 355.
Property Size1,760 SF
Price / SF$178.98
Days on Market153
Property Features for 945 Russell Ave
General Information
Standard status
Active
Size
1,760 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Renovated
2020
Units
2
Tenancy
Single
Listing Agency:
DMV REA
Listed By:
David Adebayo · License #IBF40000071
Source:
Crexi
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 31 at 5:14PM
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 DMV REA
Investment Insights
Based on property information with market context.
This offering includes two adjoining general office suites within Russell Office Park. Each suite measures 880 square feet, for a combined 1,760 square feet, and the units may be acquired together or individually. The property is identified as Suite B at 945 Russell Ave and is described as well maintained.
The office park is near I-270 and Route 355, with restaurants, hotels, and retail stores in the surrounding area. The location carries a Walk Score of 75, classified as Very Walkable. The suites are available for immediate purchase or lease.
The office park is near I-270 and Route 355, with restaurants, hotels, and retail stores in the surrounding area. The location carries a Walk Score of 75, classified as Very Walkable. The suites are available for immediate purchase or lease.
Key Highlights
- Two adjoining office suites, each measuring 880SF
- Combined property size of 1,760 square feet
- Located within Russell Office Park, a Class B building
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
$21,509
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
6.83%
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%
$430,180
$430.2K
Cap Rate 7%
$307,271
$307.3K
Cap Rate 9%
$238,989
$239.0K
Market Conditions
NOI Build-Up for 1,760 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
$34.6K $19.68/SF
− Vacancy
−$6.0K −$3.38/SF
EGI
$28.7K $16.30/SF
− OpEx
−$7.2K −$4.07/SF
NOI
$21.5K $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%
$430,180
Cap Rate 7%
$307,271
Cap Rate 9%
$238,989
Alternative Uses
Best Use
Office B
$307.3K
$268.9K – $358.5K
NOI $21,509 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$619.1K
$541.7K – $722.3K
NOI $43,339 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,627
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Adjoining office suites in a Class B building near I-270 and Route 355.
Where is this office units located?
The property is located at 945 Russell Ave Gaithersburg, MD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two adjoining office suites, each measuring 880SF; Combined property size of 1,760 square feet; Located within Russell Office Park, a Class B building
