101 Chestnut StGaithersburg, MD 20877

Property Details for 101 Chestnut St

Lot size

0.08 AC

Property size (Sq ft)

1,051 SF

Zone code

RB

Property type

Commercial real estate

APN

09-02183903

APU

902183903

Description

This 984 square foot Class B office condo in Gaithersburg, MD, presents a compelling investment opportunity. Located on the desirable first floor of a well-maintained building (renovated in 2016, new roof and parking lot in recent years), this property boasts two exterior entrances, ample natural light, and plentiful free parking. Currently 100% occupied by a corporate-guaranteed tenant under a triple net (NN+) lease with a remaining term of four years (expiring 11/29/2028), the lease includes annual rent bumps of 3%. The tenant covers all utilities, repairs, and maintenance, minimizing landlord responsibilities. The landlord is responsible for base year taxes and condo fees. The property features four large offices, a reception area, and a private restroom. Situated in a HUBZone and Opportunity Zone, this location offers significant tax advantages and attracts government contractors. The asking price is $279,995, representing a $284.55 price per square foot and a 7.31% cap rate (including estimated tax benefits). This property is ideal for owner-users seeking a turnkey operation or investors looking for a stable, long-term income stream with significant upside potential. The current owner invested approximately $20,000 in renovations. The lease has flexibility for a buyer, allowing for either continuation of the existing lease or termination for owner-occupancy. The property's prime location near the Montgomery County Fairgrounds, restaurants, shopping, and major roadways (I-270 and Route 355) adds to its appeal.

Location Insight

City

Gaithersburg

County

Montgomery

State

Maryland

Latitude

39.1412

Longitude

-77.2036

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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