Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1120 Patrick St Frederick, MD 21703-3962

    • Auto shops
    • 4,741 SF
    • 1.59 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2109451
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • General Tire / Tire Shop
    • Pep Boys / Tire Shop / Towing Service

    Property Details for 1120 Patrick St

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    1.59 lot acres
    Property size
    4,741 SF
    Zone code
    GC
    Property type
    Auto shops
    APN
    02-031302
    APU
    2031302

    Description

    This exceptional 17,200 square foot retail property in Frederick County, Maryland, presents a unique investment opportunity. Built in 1987, the single-story building currently houses a Pep Boys auto repair and tire operation under a long-term ground lease. A significant portion of the building, totaling 9,936 square feet, is currently vacant and available for lease. The existing Pep Boys tenant occupies approximately 7,264 square feet and continues its operations. The vacant space offers considerable flexibility, adaptable to a variety of uses. Potential tenants could include medical facilities (dialysis or plasma centers), daycare centers (child or pet), discount retailers, furniture stores, tool and hardware retailers, or automotive-related businesses that do not directly compete with the existing tenant, such as collision repair centers, auto glass shops, or specialized auto parts stores. The property boasts high visibility from all directions and ample parking. Its location is typically surrounded by nationally recognized retailers, ensuring high traffic and visibility. The size of the available space can be customized to meet specific tenant needs. Cash allowances may be negotiated, contingent upon a rent structure that ensures a reasonable return on investment. This property offers a compelling combination of existing income and significant potential for future growth.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.448
    Latitude
    39.4174
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $61,452
    $715,800
    $2,640,000
    $3,355,800
    -
    $715,800
    $2,640,000
    $3,355,800

    Comparable in this City

    • Value Estimation by Request
      42,000 SF

      5509 Mt Zion Rd

      AUTO REPAIR, GARAGE • 42,000 SF
      5509 Mt Zion Rd, Frederick, MD 21703-4500
      View Details
    • Value Estimation
      $335,000
      2,448 SF

      1210 Patrick St

      AUTO REPAIR, GARAGE • 2,448 SF
      1210 Patrick St, Frederick, MD 21703-3961
      View Details
    • Value Estimation by Request
      10,200 SF

      4624 Wedgewood Blvd

      AUTO REPAIR, GARAGE • 10,200 SF
      4624 Wedgewood Blvd, Frederick, MD 21703-7159
      View Details
    • Value Estimation by Request
      2,520 SF

      4590 Mack Ave

      AUTO REPAIR, GARAGE • 2,520 SF
      4590 Mack Ave, Frederick, MD 21703-7158
      View Details
    • Value Estimation
      $720,000
      6,000 SF

      4975 Winchester Blvd

      AUTO REPAIR, GARAGE • 6,000 SF
      4975 Winchester Blvd, Frederick, MD 21703-7400
      View Details
    • Value Estimation by Request
      8,040 SF

      1340 Patrick St

      AUTO REPAIR, GARAGE • 8,040 SF
      1340 Patrick St, Frederick, MD 21703-3850
      View Details

    Similar Nearby for Sale

    • $700,000
      2.29 Acres

      Frederick Commercial Land - 2.29 Acres

      Prime Commercial Land, High Visibility, Excellent Location
      7091 Corporate Dr, Frederick, MD 21703
      View Details
    • $700,000

      Commercial Land Near Shopping Center

      Land suitable for retail, restaurant, or office development.
      7091 Corporate Dr, Frederick, MD 21703
      View Details
    • $430,000

      Frederick Specialty Property For Sale

      Specialty property available for purchase in Frederick, Maryland.
      6202 Davinci St, Frederick, MD 21703
      View Details
    • $799,000

      Frederick Specialty Property For Sale

      Specialty property available for purchase in Frederick, Maryland.
      5642 Jefferson Blvd, Frederick, MD 21703
      View Details
    • $339,999

      Frederick Specialty Property For Sale

      Specialty property available for purchase in Frederick, Maryland.
      7043 Basswood Rd, Frederick, MD 21703
      View Details
    • $475,000

      Upgraded Townhome with Trex Deck

      Comfortable townhome with upgrades, Trex deck, and community amenities.
      6394 Betty Linton Ln, Frederick, MD 21703
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      38,167 SF

      Modern Office Space with Amenities

      Office space featuring modern amenities in a convenient location.
      5202 Presidents Ct, Frederick, MD 21703
      View Details
    • Contact for pricing
      4,000 SF

      Retail Pad Sites Available

      Retail pad sites with excellent visibility and access.
      1100 E Patrick St, Frederick, MD 21703
      View Details
    • Contact for pricing
      21,262 SF

      Frederick Retail Shopping Center Space

      Retail space available in Frederick, Maryland shopping center.
      5213-5227 Presidents Ct, Frederick, MD 21703
      View Details
    • Contact for pricing

      Retail Space Near I-270

      Retail space in fast-growing Frederick, Maryland near Westview Promenade.
      4959-4969 Westview Dr, Frederick, MD 21703
      View Details
    • Contact for pricing
      519,954 SF

      Arcadia Business Park: Premier Spaces

      61-acre business park; flexible spaces available.
      85 At Arcadia Dr, Frederick, MD 21703
      View Details
    • Contact for pricing
      4,890 SF

      Redevelopment Opportunity Near Francis Scott Key Mall

      High-profile redevelopment or repurpose opportunity near Francis Scott Key Mall.
      5613 Spectrum Dr, Frederick, MD 21703
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1120 Patrick St
    Frederick, MD 21703-3962
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.