Luxury Office Condo in
For Sale
$585,000
50 Carroll Creek Way, Frederick, MD 21701
Class A office condo in vibrant Downtown Frederick location.
Property Size1,851 SF
Price / SF$316.05
Days on Market156
Property Features for 50 Carroll Creek Way
General Information
Standard status
Active
Size
1,851 SF
Property subtype
Office
Zoning
DB (Downtown Commercial/Residential)
Listing Agency:
MacKenzie Commercial Real Estate - Corporate
Listed By:
Gary Gill
(410) 821-8585
Source:
Mackenziecommercial
Added: Apr 3
Changed: Aug 23
Last Checked: Sep 4 at 2:06AM
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 MacKenzie Commercial Real Estate - Corporate
Investment Insights
Based on property information with market context.
This 1,851 square foot Class A office condo is located on the third floor of the South Market Center. The space features a high-end luxury buildout, including six private offices, a conference room, a kitchenette, a reception area, and a waiting room. Common area restrooms are accessible. The sale includes one dedicated parking space (320-A). The property is positioned along Carroll Creek and its Linear Park, directly across from the Carroll Creek Garage and adjacent to the Frederick County Public Library. It is situated in the heart of Downtown Frederick, surrounded by retail and dining amenities.
Key Highlights
- Prime Downtown Frederick location with abundant retail and dining amenities.
- High‑end luxury buildout with six private offices, conference room, kitchenette, reception area, and waiting room.
- Located on Carroll Creek with views of Linear Park.
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
$33,911
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
5.80%
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%
$678,220
$678.2K
Cap Rate 7%
$484,443
$484.4K
Cap Rate 9%
$376,789
$376.8K
Market Conditions
NOI Build-Up for 1,851 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
$57.3K $30.96/SF
− Vacancy
−$12.1K −$6.53/SF
EGI
$45.2K $24.43/SF
− OpEx
−$11.3K −$6.11/SF
NOI
$33.9K $18.32/SF
Area
Frederick County, MD
Vacancy
21.10%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
25.00%
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%
$678,220
Cap Rate 7%
$484,443
Cap Rate 9%
$376,789
Alternative Uses
Best Use
Office B
$484.4K
$423.9K – $565.2K
NOI $33,911 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$685.9K
$600.2K – $800.2K
NOI $48,012 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,024
Businesses Nearby
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?
Office units - Class A office condo in vibrant Downtown Frederick location.
Where is this office units located?
The property is located at 50 Carroll Creek Way Frederick, MD.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Prime Downtown Frederick location with abundant retail and dining amenities.; High‑end luxury buildout with six private offices, conference room, kitchenette, reception area, and waiting room.; Located on Carroll Creek with views of Linear Park.
