Current Use by Public Records
- Gupta Naresh C MD / Physician
- Constance Derosa / Physician
- Breast Cancer In Focus / Medical Clinic / Hospital
- Progressive Health LLC / Painting Service / General Contractor
Property Details for 46b Thomas Johnson Dr
- Year built
- 2002
- Lot size
- 1.89 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional investment opportunity presents a free-standing, two-story Class B medical office building totaling 20,000 square feet, situated on a 1.89-acre lot in Frederick, MD. The property, built in 2002 and renovated in 2015, features 104 parking spaces and boasts a prominent location adjacent to Route 15, enjoying high visibility from approximately 11,000 vehicles daily. Currently, the building is 50% occupied, with a strong credit tenant, Maryland Oncology Hematology (a US Oncology Network affiliate), leasing 10,000 square feet under a NNN lease with a remaining term of approximately 3.7 years (expiring July 28, 2028). The lease includes a 3% annual rent bump. The current NOI is $295,067, with a pro-forma NOI of $566,777, reflecting the potential for significant additional income from the vacant 10,000 square foot unit. The property is zoned GC and benefits from its location within the thriving Frederick Medical Corridor, near John Hopkins Community Physicians. A new roof was installed in 2023. This presents a compelling opportunity to acquire a well-located medical office building with a strong existing tenant and substantial upside potential. The property is located at 46B Thomas Johnson Dr, Frederick, MD 21702.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Frederick
- County
- Frederick
- State
- Maryland
- Longitude
- -77.4002
- Latitude
- 39.4544
