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Property profile & analytics
FOR LEASE
Turn key restaurants
5613 Spectrum Dr Frederick, MD 21703
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US40-2159385
For Lease
1 / 2
$1,550,000
5613 Spectrum Dr, Frederick, MD 21703
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1995
Construction
BRICK
Total area
4,890 SF
Lot
1.77 ac (77,101 SF)
Zoning code
GC
APN
28-580002
UPID
US40-2159385
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Applebee's Grill + Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.55M
Owner & transaction history
5613 Spectrum Dr LLC · 8 yrs held
5613 Spectrum Dr LLC
since 2018
7 recorded transactions
Zoning & alternative use
GC · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+45.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Frederick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Frederick submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,530,000
Current use
OFFICE BUILDING
$2,230,000
Change: +46% · Conversion: Moderate
RETAIL STORES
$1,365,000
Change: -11% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,275,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$317 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$28,359
Tax year 2023
Assessed value
$2,356,233
Assessed 2023
Previous assessed
$2,295,467
+2.6% YoY
Effective rate
1.20%
On assessed value
Land market value
$1,547,100
Improvement market value
$869,900
Total market value
$2,417,000
Applied tax rate
28.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1995
Construction
BRICK
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
4,890 SF
Lot
1.77 ac (77,101 SF)
Zoning code
GC
APN
28-580002
UPID
US40-2159385
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
GC · Frederick, MD
Zoning GC · permitted uses
GC · Frederick, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Frederick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$2.2M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
RESTAURANT Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.77 ac
Current owner
From public records · entity-resolved
5613 Spectrum Dr LLC
Entity
Mailing address
12908 TUFTON WOODS CT, REISTERSTOWN, MD 21136-5550
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2018
$2,725,000
5613 Spectrum Dr LLC
Md Restaurent Holdings LLC
Deed
$2,050,000 · Bay Bank Fsb
Apr 23, 2018
—
Td Bank NA National Bankin
Md Restaurant Holdings LLC
Agreement Of Sale
—
Nov 16, 2012
—
Potomac Fam Dining Group Opera
—
Deed Of Trust
related
$38,800,000 · General Electric Capital Corp
Sep 12, 2012
—
Potomac Fam Dining Group Opera
—
Deed Of Trust
related
$24,500,000 · Regions Financial Corp
Oct 2, 2008
$2,371,442
Md Restaurant Holdings, LLC
Dbapplef LLC
Deed
—
Jul 23, 2008
$1,707,185
Dbapplef LLC
Aov Transitory Merger Sub LLC
Deed
—
Dec 14, 2007
—
Aov Transitory Merger Sub LLC
Applebees Of Virginia INC
Grant Deed
—
Nov 18, 2002
—
Applebees Of Virginia INC
Apple Capitol Group LLC
Quit Claim Deed
related
—
May 14, 1999
$1,520,000
Apple Capitol Group LLC
Avado Brands INC
Grant Deed
$8,492,000 · Lehman Capital
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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