Office Building with On-Site
New
For Sale
$1,195,000
53 E PATRICK STREET, Frederick, MD 21701
DB zoning allows a range of potential uses, subject to applicable City approvals.
Property Size4,296 SF
Price / SF$278.17
Days on Market5
Property Features for 53 E PATRICK STREET
General Information
Standard status
Active
Size
4,296 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
DB
Building Details
Year Built
1880
Buildings
1
Building Size
4,296 SF
Listing Agency:
Frederick Land & Home, LLC.
(301) 662-9222
Listed By:
David Bowers · License #656484
(240) 674-2626
Source:
Cummingsrealtors
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 12 at 8:35PM
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 Frederick Land & Home, LLC.
Investment Insights
Based on property information with market context.
This 4,296-square-foot office building dates to 1880 and is currently used for professional offices. Its DB (Downtown Commercial/Residential) zoning allows a range of potential uses, subject to applicable City approvals. The layout is described as flexible, and the property has six private parking spaces behind the building.
The property is on East Patrick Street in Downtown Frederick, near Market Street and Carroll Creek. Restaurants, shops, and professional offices are among the nearby businesses and destinations. The location is described as walkable, with the downtown setting providing access to those surrounding amenities.
The property is on East Patrick Street in Downtown Frederick, near Market Street and Carroll Creek. Restaurants, shops, and professional offices are among the nearby businesses and destinations. The location is described as walkable, with the downtown setting providing access to those surrounding amenities.
Key Highlights
- Approximately 4,296 square feet
- Currently used as professional office space
- 6 private on‑site parking spaces behind the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,705
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,574,100
$1.6M
Cap Rate 7%
$1,124,357
$1.1M
Cap Rate 9%
$874,500
$874.5K
Market Conditions
NOI Build-Up for 4,296 SF
Gross rent
$133.0K $30.96/SF
− Vacancy
−$28.1K −$6.53/SF
EGI
$104.9K $24.43/SF
− OpEx
−$26.2K −$6.11/SF
NOI
$78.7K $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%
$1,574,100
Cap Rate 7%
$1,124,357
Cap Rate 9%
$874,500
Alternative Uses
Best Use
Office B
$1.12M
$983.8K – $1.31M
NOI $78,705 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,431 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
2,911
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - DB zoning allows a range of potential uses, subject to applicable City approvals.
Where is this office building located?
The property is located at 53 E PATRICK STREET Frederick, MD.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Approximately 4,296 square feet; Currently used as professional office space; 6 private on‑site parking spaces behind the building
