Monday Properties Acquires Office Property In Rockville, Maryland For $43.6M
SOLD
$43,600,000
Maryland
See Similar DealsOffice266,077 SF
Sold 09/08/2022
SOLD
Monday Properties Acquires Office Property In Rockville, Maryland For $43.6M
2101 Gaither Road, Rockville, Maryland 20850, United States
See Similar DealsOffice266,077 SF
Sold 09/08/2022
Summary
MARYLAND
Asset Type:Office
Price Per Square Foot:$163
Total Square Footage:266,077 SF
Transaction Type:Sale
The office property located at 2099 & 2101 Gaither Road in Rockville, MD has been sold in a transaction. The property spans approximately 266,077 square feet and was sold for a total price of $43,600,000, resulting in a price per square foot of $164.
Summary of transaction details:
- Property Type: Office
- Sale Price: $43,600,000
- Square Footage: 266,077
- Price Per Square Foot: $164
- Address: 2099 & 2101 Gaither Road, Rockville, MD
- Market: Rockville, MD
The buyer for this transaction is Monday Properties, while the seller is Cliff Cummings. The deal was facilitated by Newmark, with representation from Jud Ryan, Ryan Cassidy, and Grant Marley.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$154,901.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$206,686.24
Annual Debt Service$2,480,234.92
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