Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    229 Tippin Dr, Unit LAND LEASE Thurmont, MD 21788

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,000 /Mo

    Land lease available for commercial use in Thurmont, MD.

    Lot size:
    6.55 Acres

    Property Features for 229 Tippin Dr

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    6.55 Acres

    Building Details

    Year built
    1992

    We can help!

    Listing Contact
    William Zahler
    Source: Elliman

    Listing Agency: SUNSHINE MANAGEMENT CORP. Listing Agent: William Zahler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land Lease in Thurmont, MD

    A land lease opportunity is available at Orchard Village Shopping Center in Thurmont, Maryland. The site can accommodate a building of up to 6,000 square feet, to be built by the prospective tenant. The intended use is commercial, including retail or office space. The location offers significant exposure. Current tenants at the shopping center include Food Lion, Dollar Tree, Wendy's, and Rocky's Pizza.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thurmont
    County
    Frederick
    State
    Maryland
    Longitude
    -77.4208449
    Latitude
    39.6167091

    Nearby Similar for Lease

    • $15 SF/Yr

      Retail Space on Main Street

      Available retail space in a vibrant, sought-after location.
      9 E Main St, Thurmont, MD 21788
      View Details
    • $15 SF/Yr

      Retail Space in Thurmont, MD

      Retail units available for lease in vibrant Thurmont location.
      11 E Main St, Thurmont, MD 21788
      View Details
    • $15 SF/Yr

      Retail Space Available for Lease

      Retail units available in vibrant area with flexible lease terms.
      9 E Main St, Thurmont, MD 21788
      View Details
    • $1.00 SF/Yr

      Thurmont Commercial Space with Loading

      Flexible 2,000 SF commercial space with loading dock.
      202 E Main St, Thurmont, MD 21788
      View Details
    • $2.00 SF/Yr

      Thurmont Commercial Space with Character

      Flexible 2,700 SF space ideal for retail or office.
      202 E Main St, Thurmont, MD 21788
      View Details
    • $15 SF/Yr

      Retail Space on Main Street

      Available retail space in vibrant Thurmont location for lease.
      9 E Main St, Thurmont, MD 21788
      View Details
    • $15 SF/Yr

      Retail Space on Main Street

      Retail units available for lease in vibrant Thurmont area.
      11 E Main St, Thurmont, MD 21788
      View Details
    • $600 /Mo

      Thurmont Shared Professional Office Space

      Shared office space with amenities in downtown Thurmont.
      60 Water St, Thurmont, MD 21788
      View Details
    • $2.00 SF/Yr

      Flexible Commercial Space in Thurmont

      2,700 SF space ideal for retail, studio, or office.
      202 E Main St, Thurmont, MD 21788
      View Details
    • $4,000 /Mo

      Thurmont Industrial/Flex Property for Rent

      9,525 SF industrial/flex space with expansion potential in Thurmont.
      36 Walnut St, Thurmont, MD 21788
      View Details
    • $600 /Mo

      Shared Office Space For Rent

      Shared office space with amenities in downtown Thurmont.
      60 Water St, Thurmont, MD 21788
      View Details
    • Contact for pricing
      18,000 SF

      Prime Thurmont Retail Space

      Freestanding building, 3 suites available, high visibility.
      205 Frederick Rd, Thurmont, MD 21788
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land lease available for commercial use in Thurmont, MD.
    Where is this commercial land located?
    The property is located at 229 Tippin Dr, Unit LAND LEASE Thurmont, MD.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: - Land lease available within established Orchard Village Shopping Center.; - High-exposure location in Thurmont, MD.; - Suitable for retail or office use.
    (301) 663-8383
    Request Owner's contact information
    229 Tippin Dr, Unit LAND LEASE Thurmont, MD 21788
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    229 Tippin Dr, Unit LAND LEASE
    Thurmont, MD 21788
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    229 Tippin Dr, Unit LAND LEASE Thurmont, MD 21788
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    William Zahler
    Real Estate License ID: 35528
    (301) 663-8383
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!