Flex Space with
427 E Patrick Street Rear, Frederick, MD 21701
For Sale
Contact for pricing
The property pairs flexible building space with an adjoining three-quarter-acre parcel.
Property Size14,000 SF
Lot Size0.75 Acres
Price / SF$150
Days on Market9
Property Features for 427 E Patrick Street Rear
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Property Use
Building Details
Building Size
Listing Agency:
Warner Commercial
Listed By:
Jonathan Warner · License MD #91909
(301) 663-0202
Source:
Crexi
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 10 at 6:14AM
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 Warner Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 427 E. Patrick Street (Rear) in Frederick, Maryland, the offering includes a flex building of approximately 14,000 square feet and a 3/4-acre lot. The building and land are offered together.
Key Highlights
- Approximately 14,000 SF flex building
- 3/4‑acre lot
- Located at 427 E. Patrick Street (Rear), Frederick, MD 21701
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,149
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,162,980
$2.2M
Cap Rate 7%
$1,544,986
$1.5M
Cap Rate 9%
$1,201,656
$1.2M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$164.4K $11.74/SF
− Vacancy
−$9.9K −$0.70/SF
EGI
$154.5K $11.04/SF
− OpEx
−$46.3K −$3.31/SF
NOI
$108.1K $7.72/SF
Area
Frederick County, MD
Vacancy
6.00%
Lease Rate
$11.74 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,162,980
Cap Rate 7%
$1,544,986
Cap Rate 9%
$1,201,656
Alternative Uses
Best Use
Industrial
$1.54M
$1.35M – $1.80M
NOI $108,149 @ 7.0% cap · market cap 5.15%
Second Best
Flex RnD
$1.33M
$1.17M – $1.56M
NOI $93,410 @ 7.0% cap · market cap 4.45%
Theoretical Best
Specialty Retail
$5.19M
$4.54M – $6.05M
NOI $363,137 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
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- Love Boards — 300 E 2nd St, Frederick, MD 21701
- The Box Theory — 300 E 2nd St, Frederick, MD 21701
Frequently Asked Questions
What type of property is this?
Flex space - The property pairs flexible building space with an adjoining three-quarter-acre parcel.
Where is this flex space located?
The property is located at 427 E Patrick Street Rear Frederick, MD.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Approximately 14,000 SF flex building; 3/4‑acre lot; Located at 427 E. Patrick Street (Rear), Frederick, MD 21701
