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    Historic Building on Carroll Creek Title is generated by Realmo AI

    47 E ALL SAINTS STREET, Frederick, MD 21701

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    For Sale
    $3,000,000

    Three-story building in historic downtown Frederick with commercial/residential zoning.

    Type:Commercial/Industrial
    Property size:
    10,000 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $300/SF
    Added:
    Jan 6, 2025
    Days on Market:
    501
    Last Refresh:
    May 19 at 10:30 pm

    Property Features for 47 E ALL SAINTS STREET

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Lot size
    0.09 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1916

    We can help!

    Listing Contact
    Tyler Charles

    Listing agent Tyler Charles License #676096

    Listing office Long & Foster Real Estate, Inc.

    Listing date Jan 6, 2025

    Source Exitrealty

    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 Long & Foster Real Estate, Inc.

    HighLights

    • Prime downtown Frederick location directly on Carroll Creek with high visibility and accessibility.
    • 10,000+ sq ft of flexible commercial/residential space.
    • Penthouse suite with expansive rooftop deck and nearly 360‑degree views of Frederick.
    • Historic building (circa 1916) with original heartpine flooring, exposed brick, and historic elevator.
    • ADA accessibility both internally and externally.
    • Close proximity to shops, restaurants, and cultural attractions.

    Overview

    Located in the heart of historic downtown Frederick, this three-story building is situated directly on Carroll Creek. The property offers over 10,000 square feet of office space, excluding the basement, and is zoned for commercial/residential use. Originally constructed in the early 1900s, the building retains its historic character, having previously served as a confectionary factory. Architectural highlights include original heartpine flooring, exposed brick walls, and a three-story open atrium. The property features an historic elevator. A penthouse suite is located on the top level, providing access to an expansive rooftop deck with nearly 360-degree views of the Frederick skyline, including the city’s iconic steeples and Carroll Creek. The open floor plan and industrial design elements make the building suitable for a wide range of uses, including office, creative workspace, or mixed-use development. The property is fully accessible, with ADA access available both internally and externally. Features include a modern warehouse aesthetic and large windows that provide ample natural light. Its strategic placement on Carroll Creek positions it within close proximity to Frederick’s shops, restaurants, and cultural attractions.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $2.04M
    NOI $183,206 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.62M
    NOI $183,206 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.66M
    NOI $183,206 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Office B

    Component $ $/SF
    Gross rent $309.6k $30.96
    − Vacancy −$65.3k −$6.53
    EGI $244.3k $24.43
    − OpEx −$61.1k −$6.11
    NOI $183.2k $18.32
    10,000 SF · lease $30.96/SF/yr · vacancy 21.10% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $2.62M
    $2.29M – $3.05M (±1% cap)
    NOI $183,206 @ 7.0% cap · market cap 6.11%
    Second Best
    Mixed Use
    $1.01M
    $881.3K – $1.18M (±1% cap)
    NOI $70,500 @ 7.0% cap · market cap 2.35%
    Theoretical Best
    Specialty Retail
    $3.71M
    $3.24M – $4.32M (±1% cap)
    NOI $259,384 @ 7.0% cap · market cap 8.65%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Frederick Film Office Film Production Distinguished Design, LLC Advertising Agency ABSOLVE Cleaning Service Hardware & Home Improvement Brick Street Plumbing ... Plumbing Service P Marks Corp Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.409
    Latitude
    39.4121

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    FAQs

    What type of property is this?
    Office building - Three-story building in historic downtown Frederick with commercial/residential zoning.
    Where is this office building located?
    The property is located at 47 E ALL SAINTS STREET Frederick, MD.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: Prime downtown Frederick location directly on Carroll Creek with high visibility and accessibility.; 10,000+ sq ft of flexible commercial/residential space.; **Penthouse suite with expansive rooftop deck and nearly 360‑degree views of Frederick.**
    (301) 514-7411
    We can help!
    Listing Contact
    Tyler Charles
    Real Estate License ID: 676096
    Learn More
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    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.

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