First-Floor Office
For Sale
$259,990
9821 Greenbelt Rd # D 5, Lanham, MD 20706
Commercial office space with private restrooms, kitchenette, storage, signage, and ample parking.
Property Size1,281 SF
Price / SF$202.96
Days on Market69
Property Features for 9821 Greenbelt Rd # D 5
General Information
Standard status
Active
Size
1,281 SF
Property subtype
Office
Zoning
CGO
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Floor
First Floor
Asking Price
$259,990
Amenities
Private Bathrooms
Kitchenette / Break Area
Storage Closets
Signage Available
Building Details
Building Size
1,281 SF
Year Built
1996
Listing Agency:
NAI Michael
(301) 646-9310
Listed By:
Steve Catalano · License #639306
(301) 646-9310
Source:
Naiglobal
Added: Jun 23
Changed: Aug 29
Last Checked: Jun 19 at 9:58AM
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 NAI Michael
Investment Insights
Based on property information with market context.
This office unit offers approximately 1,281 square feet on the first floor, with accessible entry, two private bathrooms, a kitchenette and break area, and multiple storage closets. Separately metered utilities support clear operating-cost allocation, while available signage provides an on-site identification option. The building was constructed in 1996 and is zoned CGO (Commercial & General Office).
The property is located at 9821 Greenbelt Rd # D 5 in Lanham, Maryland, with access to the Baltimore-Washington Parkway (295), Route 50, and the Capital Beltway (I-95). NASA Goddard Space Flight Center and the United States Department of Agriculture are nearby. Abundant parking is available for occupants and visitors.
The property is located at 9821 Greenbelt Rd # D 5 in Lanham, Maryland, with access to the Baltimore-Washington Parkway (295), Route 50, and the Capital Beltway (I-95). NASA Goddard Space Flight Center and the United States Department of Agriculture are nearby. Abundant parking is available for occupants and visitors.
Key Highlights
- Approximately 1,281 square feet of first‑floor office space
- Two private bathrooms plus kitchenette and break area
- Multiple storage closets and separately metered utilities
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
$19,569
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
7.53%
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%
$391,380
$391.4K
Cap Rate 7%
$279,557
$279.6K
Cap Rate 9%
$217,433
$217.4K
Market Conditions
NOI Build-Up for 1,281 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
$31.5K $24.60/SF
− Vacancy
−$5.4K −$4.23/SF
EGI
$26.1K $20.37/SF
− OpEx
−$6.5K −$5.09/SF
NOI
$19.6K $15.28/SF
Area
Prince George's County, MD
Vacancy
17.20%
Lease Rate
$24.60 /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%
$391,380
Cap Rate 7%
$279,557
Cap Rate 9%
$217,433
Alternative Uses
Best Use
Office B
$279.6K
$244.6K – $326.2K
NOI $19,569 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$413.2K
$361.6K – $482.1K
NOI $28,927 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 20706, MD
43,623
Population
13,799
Households
3.2
Avg Household Size
36
Median Age
34%
College-Educated
83%
High-School Grad
10.0 sq mi
ZIP Area
4,362
Density / Sq Mi
$100,061
Median Household Income
$44,032
Median Earnings
$1,797
Median Rent
$408,600
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 - Commercial office space with private restrooms, kitchenette, storage, signage, and ample parking.
Where is this office units located?
The property is located at 9821 Greenbelt Rd # D 5 Lanham, MD.
What is the asking price?
The asking price for this property is $259,990.
What are key features of this property?
This property features: Approximately 1,281 square feet of first‑floor office space; Two private bathrooms plus kitchenette and break area; Multiple storage closets and separately metered utilities
