Office Condo Unit with
For Sale
$550,000
23 E Frederick St Unit 4, Walkersville, MD 21793
Well-maintained office condominium unit available with a leaseback in place through September 2027.
Property Size1,600 SF
Price / SF$343.75
Days on Market102
Property Features for 23 E Frederick St Unit 4
General Information
Standard status
Active
Size
1,600 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1987
Listing Agency:
MacRo, Ltd.
Listed By:
Ashleigh Laura Sutton Rossi · License #659717
(703) 507-1069
Source:
Lgagne
Added: Jul 18
Changed: Oct 25
Last Checked: Oct 7 at 4:56PM
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.
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Investment Insights
Based on property information with market context.
This well-maintained office condominium unit, identified as Unit 4 at 23 E. Frederick Street, is offered for sale as a turn-key investment with an existing occupant. The property is presented as a reliable, income-producing setup, with the seller requesting a leaseback through September 2027 to help support a seamless transition after closing.
The opportunity is located at 23 E. Frederick Street in Walkersville, Maryland. The transaction structure is designed to eliminate the need to secure a new tenant immediately after closing, since occupancy is already in place under the leaseback arrangement through September 2027.
The opportunity is located at 23 E. Frederick Street in Walkersville, Maryland. The transaction structure is designed to eliminate the need to secure a new tenant immediately after closing, since occupancy is already in place under the leaseback arrangement through September 2027.
Key Highlights
- Well‑maintained office condominium unit with a leaseback in place through September 2027
- Central air conditioning
- Heating system listed as "3"
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,313
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,260
$586.3K
Cap Rate 7%
$418,757
$418.8K
Cap Rate 9%
$325,700
$325.7K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$49.5K $30.96/SF
− Vacancy
−$10.5K −$6.53/SF
EGI
$39.1K $24.43/SF
− OpEx
−$9.8K −$6.11/SF
NOI
$29.3K $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 Rate 5%
$586,260
Cap Rate 7%
$418,757
Cap Rate 9%
$325,700
Alternative Uses
Best Use
Office B
$418.8K
$366.4K – $488.6K
NOI $29,313 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$592.9K
$518.8K – $691.7K
NOI $41,501 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 21793, MD
10,447
Population
4,069
Households
2.6
Avg Household Size
40
Median Age
39%
College-Educated
96%
High-School Grad
21.4 sq mi
ZIP Area
488
Density / Sq Mi
$128,504
Median Household Income
$56,329
Median Earnings
$1,489
Median Rent
$416,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Well-maintained office condominium unit available with a leaseback in place through September 2027.
Where is this office unit located?
The property is located at 23 E Frederick St Unit 4 Walkersville, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Well‑maintained office condominium unit with a leaseback in place through September 2027; Central air conditioning; Heating system listed as "3"
