Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Frederick Multifamily Investment Opportunity Title is generated by Realmo AI

    209 Dill Avenue, Frederick, MD 21701

    View on Map
    Claim this Listing
    For Sale
    $599,900

    Four-unit multifamily property in downtown Frederick with strong rental demand.

    Type:Multi-Family / Fee Simple
    Property size:
    1,960 SF
    Price / SF:
    $306/SF
    Added:
    Feb 15, 2026
    Days on Market:
    105
    Last Refresh:
    Mar 13 at 9:37 am

    Property Features for 209 Dill Avenue

    General Information

    Standard status
    Active
    Size
    1,960 SF
    Property subtype
    Multi-Family / Fee Simple

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Sean C Brink
    Sean C Brink

    Listing agent Sean C Brink License #0225258018

    Listing office Northrop Realty

    Listing date Feb 15, 2026

    Source Compass

    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 Northrop Realty

    HighLights

    • Prime Downtown Frederick location on Dill Avenue, walking distance to shops, restaurants, breweries, and entertainment.
    • Strong rental demand with a track record of near 100% occupancy.
    • Well‑maintained property with very little annual maintenance expense.
    • Three of the four tenants have been in place for many years, providing immediate stability and dependable cash flow.
    • Four‑unit multifamily property, ideal for expanding an existing portfolio or acquiring a first multifamily investment.
    • Property includes interior features such as wood floors and built‑ins, and exterior features such as a porch.

    Overview

    Located in downtown Frederick on Dill Avenue, this well-maintained 4-unit multifamily property presents an investment opportunity. The property is within walking distance of shops, restaurants, breweries, and entertainment options in historic downtown Frederick. The property has a history of near 100% occupancy. Three of the four tenants have been in place for many years, providing stability and cash flow. The property has been well cared for, resulting in very little to no annual maintenance expense. The property is located in Frederick County and is within city limits. The school district is Frederick County Public Schools.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.4136711
    Latitude
    39.4194392

    Nearby Similar for Sale

    • $3,250,000

      Frederick Office/Medical Building For Sale

      10,600 SF office/medical building with onsite parking and natural light.
      195 THOMAS JOHNSON Drive, FREDERICK, MD 21702
      View Details
    • $599,900
      1,960 SF

      Downtown Frederick Multifamily Investment

      Four-unit property in historic downtown Frederick, near shops and restaurants.
      209 DILL Avenue, FREDERICK, MD 21701
      View Details
    • $750,000
      2,420 SF

      Frederick Multifamily Property For Sale

      Four-unit property near downtown Frederick with income potential.
      24 HAMILTON Avenue, FREDERICK, MD 21701
      View Details
    • $419,999
      1,520 SF

      Frederick Office Suite For Sale

      Street-level office suite with tax benefits and modern design.
      6550 MERCANTILE Drive E, FREDERICK, MD 21703
      View Details
    • $789,900

      Downtown Frederick Office/Medical Space

      2,848 SF office/medical space in historic downtown Frederick.
      241 E 4TH Street, FREDERICK, MD 21701
      View Details
    • $3,250,000
      10,600 SF

      Freestanding Office/Medical Building For Sale

      10,600 SF office/medical building with on-site parking and natural light.
      195 THOMAS JOHNSON Dr, Frederick, MD 21702
      View Details
    • $585,000
      1,851 SF

      Luxury Office Condo in Frederick

      Class A office condo in vibrant Downtown Frederick location.
      50 Carroll Creek Way, Frederick, MD 21701
      View Details
    • $1,800,000
      6,000 SF

      Versatile Commercial Building Near Interstates

      6,000 sq ft commercial building suitable for industrial or flex uses.
      4603 Wedgewood Blvd, FREDERICK, MD 21703
      View Details
    • $1,500,000

      Leased Mixed-Use Frederick Property

      Income-producing property in a desirable, walkable downtown location.
      23-25-27 S MARKET ST, FREDERICK, MD 21701
      View Details
    • $899,900

      Historic Frederick Multifamily Opportunity

      Four-unit multifamily property in Frederick's Historic District.
      232 E 2ND St, Frederick, MD 21701
      View Details
    • $850,000

      Downtown Frederick Apartment Building Investment

      Well-maintained 6-unit apartment building in a prime downtown location.
      241 E 2ND St, Frederick, MD 21701
      View Details
    • $545,000

      Downtown Frederick Commercial Opportunity

      Prime commercial property in downtown Frederick with versatile zoning.
      325 W 7th St, FREDERICK, MD 21701
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in downtown Frederick with strong rental demand.
    Where is this quadplex located?
    The property is located at 209 Dill Avenue Frederick, MD.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Prime Downtown Frederick location on Dill Avenue, walking distance to shops, restaurants, breweries, and entertainment.; Strong rental demand with a track record of near 100% occupancy.; Well‑maintained property with very little annual maintenance expense.
    (301) 748-4675
    We can help!
    Listing Contact
    Sean C Brink
    Sean C Brink
    Real Estate License ID: 0225258018
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    209 Dill Avenue, Frederick, MD 21701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!