Retail and Office Business
For Sale
$2,500,000
3535 Urbana Pike, Frederick, MD 21704
Business and retail suites with strong signage on Urbana Pike near easy access to I-270 and backing to the Village of Urbana.
Property Size5,878 SF
Price / SF$425.31
Days on Market48
Property Features for 3535 Urbana Pike
General Information
Standard status
Active
Size
5,878 SF
Zoning
Village Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Keller Williams Realty Centre
Listed By:
Robert J Krop · License #35299
(301) 524-2887
Source:
Kandorre
Added: Jul 20
Changed: Aug 12
Last Checked: Sep 4 at 9:29AM
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 Keller Williams Realty Centre
Investment Insights
Based on property information with market context.
This offering features professional business and retail suites at 3535 Urbana Pike in Frederick, Maryland. The property is set up for flexible occupancy within Village Commercial zoning, which allows for a large number of uses. Signage is positioned directly on Urbana Pike for street-facing visibility.
The location provides convenient access to I-270 and sits right off MD-355, supporting straightforward customer and client access. The property also backs to the Villages of Urbana.
For buyers evaluating multi-use commercial space, this configuration combines business and retail suite options with frontage signage on Urbana Pike and zoning flexibility under the Village Commercial designation.
The location provides convenient access to I-270 and sits right off MD-355, supporting straightforward customer and client access. The property also backs to the Villages of Urbana.
For buyers evaluating multi-use commercial space, this configuration combines business and retail suite options with frontage signage on Urbana Pike and zoning flexibility under the Village Commercial designation.
Key Highlights
- Business and retail suites near Urbana Pike (US‑355) with strong signage on 355
- Professional Business and Retail suites in Urbana with convenient access to I‑270
- Property backs to the Villages of Urbana
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
$107,688
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
4.31%
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%
$2,153,760
$2.2M
Cap Rate 7%
$1,538,400
$1.5M
Cap Rate 9%
$1,196,533
$1.2M
Market Conditions
NOI Build-Up for 5,878 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
$182.0K $30.96/SF
− Vacancy
−$38.4K −$6.53/SF
EGI
$143.6K $24.43/SF
− OpEx
−$35.9K −$6.11/SF
NOI
$107.7K $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%
$2,153,760
Cap Rate 7%
$1,538,400
Cap Rate 9%
$1,196,533
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.79M
NOI $107,688 @ 7.0% cap · market cap 4.31%
Second Best
Retail
$914.7K
$800.3K – $1.07M
NOI $64,027 @ 7.0% cap · market cap 2.56%
Theoretical Best
Specialty Retail
$2.18M
$1.91M – $2.54M
NOI $152,466 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Explore this area
Business Placement
Demographics for 21704, MD
19,275
Population
6,230
Households
3.1
Avg Household Size
37
Median Age
58%
College-Educated
96%
High-School Grad
26.6 sq mi
ZIP Area
725
Density / Sq Mi
$164,457
Median Household Income
$82,145
Median Earnings
$2,395
Median Rent
$585,900
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 - Business and retail suites with strong signage on Urbana Pike near easy access to I-270 and backing to the Village of Urbana.
Where is this office units located?
The property is located at 3535 Urbana Pike Frederick, MD.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Business and retail suites near Urbana Pike (US‑355) with strong signage on 355; Professional Business and Retail suites in Urbana with convenient access to I‑270; Property backs to the Villages of Urbana
