Ground-Floor Entry Office
951b Russell Avenue Unit 2201 Gaithersburg, MD 20879
For Sale
$215,000
Ground-floor entry end unit office condo with front parking and 2 offices plus conference space.
Property Size703 SF
Price / SF$305.83
Days on Market121
Property Features for 951b Russell Avenue Unit 2201
General Information
- Standard status
- Active
- Size
- 703 SF
- Property subtype
- Office
Building Details
- Year Built
- 1988
Listing Agency:
Red Maple Realtors Inc.
(301) 651-6908
Listed By:
Norman Walters · License #90894
(301) 651-6908
Source:
Xome
Added: Mar 26
Changed: Jul 23
Last Checked: Jul 23 at 8:20AM
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 Red Maple Realtors Inc.
Investment Insights
Based on property information with market context.
This ground-floor entry office condo is an end unit with sun exposure on three sides. The layout includes two large offices and a conference area, with the space described as easily convertible to four offices and a reception area. Recent improvements include a new hot water heater, upgraded HVAC ventilation, and fresh painting.
Parking is available right out front, and the unit is positioned within a well-managed office community. The property is noted as just off the Watkins Mill 270 exit and within walking distance to Costco.
A separate basement storage unit is included in a building next door, described as approximately 600 square feet and one of only six storage units in the community. The listing also notes low utilities and emphasizes immediate occupancy readiness.
Parking is available right out front, and the unit is positioned within a well-managed office community. The property is noted as just off the Watkins Mill 270 exit and within walking distance to Costco.
A separate basement storage unit is included in a building next door, described as approximately 600 square feet and one of only six storage units in the community. The listing also notes low utilities and emphasizes immediate occupancy readiness.
Key Highlights
- Ground‑floor entry end unit office condo with front parking and 2 large offices plus conference area
- Includes separate 600 SF basement storage unit in the building next door (1 of only 6 storage units in the community)
- Central air and ceiling fans; heated by 3 heating system(s); carpet flooring
Financial Insights For Healthcare Medical
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 | $22.7k | $32.28 |
| − Vacancy | −$4.3k | −$6.07 |
| EGI | $18.4k | $26.21 |
| − OpEx | −$7.4k | −$10.48 |
| NOI | $11.1k | $15.73 |
703 SF · lease $32.28/SF/yr · vacancy 18.80% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$157.9K
$138.2K – $184.3K
NOI $11,056 @ 7.0% cap · market cap 5.14%
Second Best
Office B
$122.7K
$107.4K – $143.2K
NOI $8,592 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$247.3K
$216.4K – $288.5K
NOI $17,311 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Ground-floor entry end unit office condo with front parking and 2 offices plus conference space.
Where is this office units located?
The property is located at 951b Russell Avenue Unit 2201 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Ground‑floor entry end unit office condo with front parking and 2 large offices plus conference area; Includes separate 600 SF basement storage unit in the building next door (1 of only 6 storage units in the community); Central air and ceiling fans; heated by 3 heating system(s); carpet flooring
