Entity Owned 
For Lease
1 / 19
$14 SF/Yr
331 Aviation Way,Unit 6, Frederick, MD 21701
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Property summary
AI-generated overview
A 5,652-square-foot condominium unit (Unit Six) is located within a sprinklered, multi-tenant condominium building totaling 55,002 square feet at 331 Aviation Way. The overall site covers 4.66 acres and is zoned M1 (Light Industrial), with an (AO) Airport Overlay Zone designation; the site is across from Frederick Airport. Restrooms are not currently installed in the unit, leaving the space configured for customization to suit future operational needs. The site is positioned with a bike score of 51, a walk score of 12, and a transit score of 18, indicating it is bikeable with car-dependent characteristics and limited public transit access.
Property profile
Verified
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2024
Total area
55,118 SF
Lot
4.66 ac (202,990 SF)
Zoning code
M1
APN
02-132478
UPID
US40-1742821
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.55M
Comparable Approach
Comparable
$5.48M
Blend (final)
Blend
$7.36M
Owner & transaction history
since 2021
Last sale
$5.0M
6 recorded transactions
Zoning & alternative use
M1 · Frederick, MD
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$7.36M
Value range
$6.62M – $8.10M
±10% around blend
Estimated value / SF
$134 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$6.62M
blend $7.36M
$8.10M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
55,118 SF
Lot area
4.66 ac
Year built
2024
Stories
1
APN
02-132478
Zoning
M1
Assessed value
$4,259,167
Annual tax
$13,136
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.55M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$7.10M
@ 6.5% CAP return
$6.55M
@ 7% CAP return
$6.09M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$13,136
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$5.48M
Range $5.35M – $11.48M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$7.36M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 28 sales
$245
-46%
County 35 sales
$233
-43%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $134/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
5.80%
Selected cap rate for this other industrial properties
Derived from the Frederick market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.80%
9.0%
NOI (est.)
$516k *
Last sale · May 2021
$5.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$8.90M
Move the market yield to see immediate price impact.
Value / SF
$161
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.30%5.80%6.30%
$464k
$8.76M
$8.01M
$7.37M
$516k
$9.73M
$8.90M
$8.19M
$568k
$10.71M
$9.78M
$9.01M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,136
Tax year 2023
Assessed value
$4,259,167
Assessed 2024
Previous assessed
$4,259,167
+0.0% YoY
Effective rate
0.31%
On assessed value
Land market value
$1,217,900
Improvement market value
$3,252,800
Total market value
$4,470,700
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
2024
Heating
NONE
Stories
1
Units
1
Total area
55,118 SF
Lot
4.66 ac (202,990 SF)
Zoning code
M1
APN
02-132478
UPID
US40-1742821
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
M1 · Frederick, MDZoning M1 · permitted uses
M1 · Frederick, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
2024
Heating
NONE
Stories
1
Units
1
Lot
4.66 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M1
Jurisdiction
Frederick, MD
Recorded code
M1
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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