Office Suite with Private
For Sale
Contact for pricing
127-129 5 W Patrick St, Frederick, MD 21701
Office suite features a reception and conference room, plus kitchenettes on both floors.
Property Size1,653 SF
Price / SF$281.31
Days on Market122
Property Features for 127-129 5 W Patrick St
General Information
Standard status
Active
Size
1,653 SF
Total Parking Spaces
1
Property subtype
OFFICE
Listing Agency:
Frederick Commercial Real Estate
(240) 457-4802
Listed By:
Chris Kline, Jr.
Source:
Moodyscre
Added: May 6
Changed: Aug 16
Last Checked: Sep 4 at 5:57PM
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 Frederick Commercial Real Estate
Investment Insights
Based on property information with market context.
This office suite offers three private offices, a reception/waiting area, and a conference room. Kitchenettes are available on both the first and second floor, supporting day-to-day tenant convenience.
The property is located at 127-129 5 W Patrick St in Frederick, MD 21701. It includes one dedicated parking space.
With a layout built for professional office use—private workrooms, a dedicated meeting space, and a reception area—this space is suited for teams that need both administrative and collaborative functions within the same suite.
The property is located at 127-129 5 W Patrick St in Frederick, MD 21701. It includes one dedicated parking space.
With a layout built for professional office use—private workrooms, a dedicated meeting space, and a reception area—this space is suited for teams that need both administrative and collaborative functions within the same suite.
Key Highlights
- 1,653 SF office suite
- Three private offices
- Reception/waiting 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
$30,284
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
6.51%
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%
$605,680
$605.7K
Cap Rate 7%
$432,629
$432.6K
Cap Rate 9%
$336,489
$336.5K
Market Conditions
NOI Build-Up for 1,653 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
$51.2K $30.96/SF
− Vacancy
−$10.8K −$6.53/SF
EGI
$40.4K $24.43/SF
− OpEx
−$10.1K −$6.11/SF
NOI
$30.3K $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%
$605,680
Cap Rate 7%
$432,629
Cap Rate 9%
$336,489
Alternative Uses
Best Use
Office B
$432.6K
$378.6K – $504.7K
NOI $30,284 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$612.5K
$536.0K – $714.6K
NOI $42,876 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,911
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 - Office suite features a reception and conference room, plus kitchenettes on both floors.
Where is this office units located?
The property is located at 127-129 5 W Patrick St Frederick, MD.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 1,653 SF office suite; Three private offices; Reception/waiting area
