Historic Live-Work and Retail
For Sale
$849,000
23341 Frederick Rd, Clarksburg, MD 20871
Restored circa-1900 building with bright main-level retail space and flexible second-floor rooms, suited for owner-users.
Property Size2,868 SF
Price / SF$296.03
Days on Market85
Property Features for 23341 Frederick Rd
General Information
Standard status
Active
Size
2,868 SF
Building Details
Year Built
1900
Listing Agency:
CENTURY 21 Commercial New Millennium
Listed By:
James Marcum · License #5005906
(443) 624-3585
Source:
Kandorre
Added: Jun 13
Changed: Aug 23
Last Checked: Sep 4 at 9:47AM
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 CENTURY 21 Commercial New Millennium
Investment Insights
Based on property information with market context.
This beautifully restored circa-1900 commercial building offers approximately 2,868 square feet across two levels. The first floor features an open, naturally lit layout with original hardwood floors, decorative pressed-tin ceilings, exposed timber beams, and historic architectural details. A convenient half bath serves the main level, and a commercial three-basin sink is already in place, supported by public water and sewer service. The main floor is ready for finishing touches and provides a strong foundation for a variety of specialty uses.
A rear stairwell leads to the second floor, which includes four separate rooms, a beautifully updated full bathroom, and additional space that can support a range of configurations. The property sits on approximately 0.14 acres along Frederick Road (MD Route 355), within Clarksburg’s historic commercial corridor. The offering also includes commuter exposure along one of the area’s most traveled routes and convenient access toward I-270 and surrounding destinations.
The layout is well suited for an owner-user live/work setup, with business activity on the main level and private or semi-private use upstairs. It may also fit creative office, gallery, showroom, or other specialty business models that benefit from historic character and flexible room count across two floors. Buyers should independently verify zoning, permitted uses, square footage, and intended use with Montgomery County.
A rear stairwell leads to the second floor, which includes four separate rooms, a beautifully updated full bathroom, and additional space that can support a range of configurations. The property sits on approximately 0.14 acres along Frederick Road (MD Route 355), within Clarksburg’s historic commercial corridor. The offering also includes commuter exposure along one of the area’s most traveled routes and convenient access toward I-270 and surrounding destinations.
The layout is well suited for an owner-user live/work setup, with business activity on the main level and private or semi-private use upstairs. It may also fit creative office, gallery, showroom, or other specialty business models that benefit from historic character and flexible room count across two floors. Buyers should independently verify zoning, permitted uses, square footage, and intended use with Montgomery County.
Key Highlights
- Restored circa‑1900 commercial building with 2,868 SF across two levels (main level plus four separate second‑floor rooms).
- Original historic features on the main level, including hardwood floors, decorative pressed‑tin ceilings, and exposed timber beams.
- Main level layout includes open retail/office‑ready space with natural light and a convenient half bath.
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
$65,914
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
7.76%
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%
$1,318,280
$1.3M
Cap Rate 7%
$941,629
$941.6K
Cap Rate 9%
$732,378
$732.4K
Market Conditions
NOI Build-Up for 2,868 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
$100.5K $35.04/SF
− Vacancy
−$6.3K −$2.21/SF
EGI
$94.2K $32.83/SF
− OpEx
−$28.2K −$9.85/SF
NOI
$65.9K $22.98/SF
Area
Montgomery County, MD
Vacancy
6.30%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,318,280
Cap Rate 7%
$941,629
Cap Rate 9%
$732,378
Alternative Uses
Best Use
Retail
$941.6K
$823.9K – $1.10M
NOI $65,914 @ 7.0% cap · market cap 7.76%
Second Best
Mixed Use
$553.1K
$484.0K – $645.3K
NOI $38,718 @ 7.0% cap · market cap 4.56%
Theoretical Best
Specialty Retail
$1.01M
$882.8K – $1.18M
NOI $70,623 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 20871, MD
28,557
Population
8,915
Households
3.2
Avg Household Size
36
Median Age
68%
College-Educated
95%
High-School Grad
22.9 sq mi
ZIP Area
1,247
Density / Sq Mi
$177,120
Median Household Income
$81,360
Median Earnings
$2,312
Median Rent
$628,800
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?
Live-work space - Restored circa-1900 building with bright main-level retail space and flexible second-floor rooms, suited for owner-users.
Where is this live-work space located?
The property is located at 23341 Frederick Rd Clarksburg, MD.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Restored circa‑1900 commercial building with 2,868 SF across two levels (main level plus four separate second‑floor rooms).; Original historic features on the main level, including hardwood floors, decorative pressed‑tin ceilings, and exposed timber beams.; Main level layout includes open retail/office‑ready space with natural light and a convenient half bath.
