Building Details

Year Built 1880

Listing Agency: Mackintosh, Inc. Show Phone

Listed By: Stephen C Mackintosh · License #82894 Show Phone

Source: Cummingsrealtors

Added: Sep 26 Changed: Oct 4 Last Checked: Oct 5 at 6:16PM

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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 Mackintosh, Inc.

Investment Insights

Based on property information with market context.

This 1,740-square-foot triplex in Frederick contains three units: a street-facing efficiency, a lower-level rear apartment with one bedroom and one bathroom, and a second-floor apartment with two bedrooms and one bathroom. A large garage accommodates more than two cars and includes a storage room. Additional off-street parking is available. The property was built in 1880, has received updates over time, and needs further work. It is vacant and offered in as-is condition.

The property is at 430 W Patrick St, near Baker Park and Culler Lake. Its DB (Downtown Business) zoning supports potential residential and commercial uses.

Key Highlights

• Three residential units: efficiency, one‑bedroom/one‑bathroom, and two‑bedroom/one‑bathroom layouts
• 1,740‑square‑foot property built in 1880
• Large garage for 2+ cars with a separate storage room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,755

Cap Rate

5.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$515,100 $515.1K

Cap Rate 7%

$367,929 $367.9K

Cap Rate 9%

$286,167 $286.2K

Market Conditions

NOI Build-Up for 1,740 SF

Gross rent

$38.6K $22.20/SF

− Vacancy

−$1.8K −$1.05/SF

EGI

$36.8K $21.15/SF

− OpEx

−$11.0K −$6.34/SF

NOI

$25.8K $14.80/SF

Area

Frederick County, MD

Vacancy

4.75%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$515,100

Cap Rate 7%

$367,929

Cap Rate 9%

$286,167

Alternative Uses

Best Use

Multifamily LT 5

$367.9K

$321.9K – $429.3K (±1% cap)

NOI $25,755 @ 7.0% cap · market cap 5.42%

Second Best

Apartment 5plus

$338.2K

$295.9K – $394.6K (±1% cap)

NOI $23,674 @ 7.0% cap · market cap 4.98%

Theoretical Best

Specialty Retail

$644.8K

$564.2K – $752.2K (±1% cap)

NOI $45,133 @ 7.0% cap · market cap 9.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Diversified Title & Tag ... Title Company Express Signs Inc (Bike/Boat/Book/etc) Store FDK Groceries &Halal ... Grocery & Convenience Store ATM Atm Bitcoin ATM Frederick ... Atm

Suggested Use

Top Pick Storage Facility Pet Grooming Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

2,314

Businesses Nearby

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 Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - DB zoning allows for potential residential and commercial uses in this vacant Frederick property.

Where is this triplex located?

The property is located at 430 W PATRICK STREET Frederick, MD.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Three residential units: efficiency, one‑bedroom/one‑bathroom, and two‑bedroom/one‑bathroom layouts; 1,740‑square‑foot property built in 1880; Large garage for 2+ cars with a separate storage room