Freestanding Office/Medical Building For
For Sale
$3,250,000
Pending
195 THOMAS JOHNSON DRIVE, Frederick, MD 21702
10,600 SF office/medical building with on-site parking and natural light.
Property Size10,873 SF
Days on Market184
Property Features for 195 THOMAS JOHNSON DRIVE
General Information
Standard status
Pending
Size
10,873 SF
Total Parking Spaces
30
Zoning
GC
Taxes and HOA fees
Annual Taxes
$43,221
Amenities
Central Air
Natural Gas, Other
Electric Water Heater
Parking Lot
Building Details
Building Size
10,873 SF
Year Built
1979
Listing Agency:
MacRo, Ltd.
(703) 507-1069
Listed By:
Ashleigh Rossi · License #659717
(703) 507-1069
Source:
Evrealestate
Added: Feb 23
Changed: Aug 25
Last Checked: Aug 26 at 6:48AM
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 MacRo, Ltd.
Investment Insights
Based on property information with market context.
This freestanding 10,600 square foot building is suitable for office or medical use. Approximately 5,000 square feet has been recently updated for medical or professional office use. The flexible layout is ideal for medical, dental, professional office, or daycare users seeking a standalone building with excellent visibility. On-site parking is available. The property benefits from natural light. The property will be available on 2/28/2026. The location has a walk score of 94, indicating it is a walker's paradise. The bike score is 81, indicating it is very bikeable. The transit score is 34, indicating some transit options are available.
Key Highlights
- Freestanding 10,600 SF building offers independence and prominent visibility.
- Approximately 5,000 SF recently updated for medical/professional office use.
- Onsite parking available.
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
$200,123
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
6.16%
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%
$4,002,460
$4.0M
Cap Rate 7%
$2,858,900
$2.9M
Cap Rate 9%
$2,223,589
$2.2M
Market Conditions
NOI Build-Up for 10,600 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
$371.4K $35.04/SF
− Vacancy
−$37.9K −$3.57/SF
EGI
$333.5K $31.47/SF
− OpEx
−$133.4K −$12.59/SF
NOI
$200.1K $18.88/SF
Area
Frederick County, MD
Vacancy
10.20%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
40.00%
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%
$4,002,460
Cap Rate 7%
$2,858,900
Cap Rate 9%
$2,223,589
Alternative Uses
Best Use
Healthcare Medical
$2.86M
$2.50M – $3.34M
NOI $200,123 @ 7.0% cap · market cap 6.16%
Second Best
Office B
$2.77M
$2.43M – $3.24M
NOI $194,198 @ 7.0% cap · market cap 5.98%
Theoretical Best
Specialty Retail
$3.93M
$3.44M – $4.58M
NOI $274,947 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,638
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21702, MD
46,412
Population
18,677
Households
2.5
Avg Household Size
37
Median Age
40%
College-Educated
89%
High-School Grad
41.7 sq mi
ZIP Area
1,113
Density / Sq Mi
$104,659
Median Household Income
$55,937
Median Earnings
$1,722
Median Rent
$384,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 10,600 SF office/medical building with on-site parking and natural light.
Where is this medical office space located?
The property is located at 195 THOMAS JOHNSON DRIVE Frederick, MD.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Freestanding 10,600 SF building offers independence and prominent visibility.; Approximately 5,000 SF recently updated for medical/professional office use.; Onsite parking available.
