Second-Floor Office Suite with Private
For Sale
Contact for pricing
973-975 Russell Ave, Gaithersburg, MD 20879
Second-floor office suite with private stairwell, reception, conference room, kitchenette, and two restrooms.
Property Size1,267 SF
Price / SF$235.99
Days on Market816
Property Features for 973-975 Russell Ave
General Information
Standard status
Active
Size
1,267 SF
Property subtype
OFFICE
Additional Details
Floor
2
Highway Access
Yes
Office Units
1
Listing Agency:
Jay Clogg Realty Group, Inc.
(301) 340-9400
Listed By:
Jay Clogg · License #67699
Source:
Moodyscre
Added: May 10, 2024
Changed: Jul 29
Last Checked: Aug 3 at 11:01AM
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.
Second-floor office suite with approximately 1,267 saleable SF, accessed by a private stairwell with no shared entrance. The space features a reception area, conference room, two private offices, an open work area, a kitchenette, and two restrooms.
The suite is located off I-270 and Route 355, behind Costco, with abundant free parking for visitors and employees.
A practical option for teams seeking a self-contained office layout with dedicated access, reception, and multiple work areas within a second-floor suite.
The suite is located off I-270 and Route 355, behind Costco, with abundant free parking for visitors and employees.
A practical option for teams seeking a self-contained office layout with dedicated access, reception, and multiple work areas within a second-floor suite.
Key Highlights
- Approximately 1,267 saleable SF office suite
- Private stairwell access with no shared entrance
- Reception area, conference room, two private offices, open work area
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 | $24.9k | $19.68 |
| − Vacancy | −$4.3k | −$3.38 |
| EGI | $20.6k | $16.30 |
| − OpEx | −$5.2k | −$4.07 |
| NOI | $15.5k | $12.22 |
1,267 SF · lease $19.68/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$221.2K
$193.6K – $258.1K
NOI $15,484 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$445.7K
$390.0K – $520.0K
NOI $31,199 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
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
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office suite with private stairwell, reception, conference room, kitchenette, and two restrooms.
Where is this office units located?
The property is located at 973-975 Russell Ave Gaithersburg, MD.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 1,267 saleable SF office suite; Private stairwell access with no shared entrance; Reception area, conference room, two private offices, open work area
