Office and Medical
For Sale
$779,000
105-241 E 4th St, Frederick, MD 21701
Suite features five offices, conference room, open cubicle areas, and a full kitchen, with common-area restrooms.
Property Size2,848 SF
Lot Size1.49 Acres
Price / SF$273.53
Days on Market484
Property Features for 105-241 E 4th St
General Information
Standard status
Active
Size
2,848 SF
Lot size
1.49 Acres
Zoning
DB
Additional Details
Lease Term
8 months
Taxes and HOA fees
Annual Taxes
$8,852
Amenities
Five Offices
Conference Room
Three Large Open Cubicle Areas
Large Full Kitchen
Multiple Restrooms
Breakroom
Listing Agency:
Mackintosh, Inc.
(301) 662-0155
Listed By:
Nancy A Green · License #512471
(301) 748-3321
Source:
Exprealty
Added: May 16, 2025
Changed: Sep 5
Last Checked: Sep 11 at 10:55AM
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 Mackintosh, Inc.
Investment Insights
Based on property information with market context.
This beautifully decorated office/medical suite is approximately 2,848 square feet and is configured with five offices, a conference room, three large open cubicle areas, and a large full kitchen. The suite also includes multiple restrooms and a breakroom located in the common area, and the space contains three AC units.
The property is located in historic downtown Frederick on East Street. The building is approximately 64,620 square feet on 1.49 acres and is described as DB zoned.
The transaction is listed for sale with an existing 8-month lease and an option to buy, and the property is also offered for lease. The suite’s planned interior layout supports professional office and medical use (no retail).
The property is located in historic downtown Frederick on East Street. The building is approximately 64,620 square feet on 1.49 acres and is described as DB zoned.
The transaction is listed for sale with an existing 8-month lease and an option to buy, and the property is also offered for lease. The suite’s planned interior layout supports professional office and medical use (no retail).
Key Highlights
- 2,848 SF office/medical suite (no retail) in historic downtown Frederick
- Layout includes five offices, a conference room, three large open cubicle areas, and a large full kitchen
- Suite has multiple restrooms and a breakroom in the common area
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
$53,769
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
6.90%
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%
$1,075,380
$1.1M
Cap Rate 7%
$768,129
$768.1K
Cap Rate 9%
$597,433
$597.4K
Market Conditions
NOI Build-Up for 2,848 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
$99.8K $35.04/SF
− Vacancy
−$10.2K −$3.57/SF
EGI
$89.6K $31.47/SF
− OpEx
−$35.8K −$12.59/SF
NOI
$53.8K $18.88/SF
Area
Frederick County, MD
Vacancy
10.20%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
40.00%
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%
$1,075,380
Cap Rate 7%
$768,129
Cap Rate 9%
$597,433
Alternative Uses
Best Use
Healthcare Medical
$768.1K
$672.1K – $896.2K
NOI $53,769 @ 7.0% cap · market cap 6.90%
Second Best
Office B
$745.4K
$652.2K – $869.6K
NOI $52,177 @ 7.0% cap · market cap 6.70%
Theoretical Best
Specialty Retail
$1.06M
$923.4K – $1.23M
NOI $73,872 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,469
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
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?
Medical Office Space - Suite features five offices, conference room, open cubicle areas, and a full kitchen, with common-area restrooms.
Where is this medical office space located?
The property is located at 105-241 E 4th St Frederick, MD.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 2,848 SF office/medical suite (no retail) in historic downtown Frederick; Layout includes five offices, a conference room, three large open cubicle areas, and a large full kitchen; Suite has multiple restrooms and a breakroom in the common area
