Historic Office
For Sale
$295,000
233 W Patrick St, Frederick, MD 21701
Well-maintained 1,176 SF office building built in 1910 with DB zoning in Frederick.
Property Size1,176 SF
Price / SF$250.85
Days on Market147
Property Features for 233 W Patrick St
General Information
Standard status
Active
Size
1,176 SF
Zoning
DB
Building Details
Year Built
1910
Listing Agency:
VCRE.CO
Listed By:
Justin Saltzman · License #0668428
(301) 639-5894
Source:
Kandorre
Added: Jun 3
Changed: Oct 25
Last Checked: Oct 7 at 1:53PM
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 VCRE.CO
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Investment Insights
Based on property information with market context.
This well-maintained office building offers 1,176 SF of space in a historic structure built in 1910. The property is presented for office or office building use, with DB zoning providing flexibility for potential tenants and businesses.
The building is located at 233 W Patrick St in Frederick, Maryland. BikeScore is listed as 47 (Somewhat Bikeable), walkScore as 62 (Somewhat Walkable), and transitScore as 36 (Some Transit), offering a moderate level of access for daily commutes.
Zoned DB, the property supports a range of office-related uses while retaining its historic character.
The building is located at 233 W Patrick St in Frederick, Maryland. BikeScore is listed as 47 (Somewhat Bikeable), walkScore as 62 (Somewhat Walkable), and transitScore as 36 (Some Transit), offering a moderate level of access for daily commutes.
Zoned DB, the property supports a range of office-related uses while retaining its historic character.
Key Highlights
- Well‑maintained 1,176 SF office building built in 1910 in Frederick
- Zoned DB, offering flexibility for office or office building uses
- Historic build year (1910) with modern utility for tenant/business use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,545
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,900
$430.9K
Cap Rate 7%
$307,786
$307.8K
Cap Rate 9%
$239,389
$239.4K
Market Conditions
NOI Build-Up for 1,176 SF
Gross rent
$36.4K $30.96/SF
− Vacancy
−$7.7K −$6.53/SF
EGI
$28.7K $24.43/SF
− OpEx
−$7.2K −$6.11/SF
NOI
$21.5K $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%
$430,900
Cap Rate 7%
$307,786
Cap Rate 9%
$239,389
Alternative Uses
Best Use
Office B
$307.8K
$269.3K – $359.1K
NOI $21,545 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$435.8K
$381.3K – $508.4K
NOI $30,504 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,027
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained 1,176 SF office building built in 1910 with DB zoning in Frederick.
Where is this office building located?
The property is located at 233 W Patrick St Frederick, MD.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Well‑maintained 1,176 SF office building built in 1910 in Frederick; Zoned DB, offering flexibility for office or office building uses; Historic build year (1910) with modern utility for tenant/business use
