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Property profile & analytics
OFF-MARKET
Estimated value
$2,760,000
Office buildings
1 Market St Frederick, MD 21701-5524
Entity Owned
Free & Clear
Property ID
US40-1354005
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,124 SF
Lot
0.08 ac (3,565 SF)
Zoning code
DB
APN
02-119188
UPID
US40-1354005
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
-
Colonial Jewelers (Bike/Boat/Book/etc) Store
-
Hurwitz Breast Cancer Fund Charitable Organization
-
Lee Andersen Boutique Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.26M
Blend (final)
Blend
$2.76M
Owner & transaction history
Tl Square LLC
Tl Square LLC
since 2025
5 recorded transactions
Zoning & alternative use
DB · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
OFFICE BUILDING
$3,670,000
Current use
RESTAURANT
$3,165,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$2.76M
Range $2.48M – $3.04M · ±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
$273 / 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
$27,908
Tax year 2023
Assessed value
$1,510,733
Assessed 2023
Previous assessed
$1,509,000
+0.1% YoY
Effective rate
1.85%
On assessed value
Land market value
$264,700
Improvement market value
$1,249,500
Total market value
$1,514,200
Applied tax rate
4.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
10,124 SF
Lot
0.08 ac (3,565 SF)
Zoning code
DB
APN
02-119188
UPID
US40-1354005
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
DB · Frederick, MD
Zoning DB · permitted uses
DB · 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
OFFICE BUILDING Current
Est. value
$3.7M
RESTAURANT
Est. value
$3.2M
OFFICE BUILDING Current
RESTAURANT
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
Tl Square LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1 S MARKET ST, FREDERICK, MD 21701-5524
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2025
—
Tl Square LLC
Sarah Hurwitz Robey
Deed
—
Jun 9, 2025
$3,500,000
Sarah Hurwitz Robey
Hurwitz Family Limited Partnership
Special Warranty Deed
—
May 5, 2022
—
One North Market LLC
Wcm Realty LLC
Deed
—
Jan 3, 2022
$2,200,000
Wcm Realty LLC
Frederick Investors LLC
Special Warranty Deed
—
Jun 3, 1998
$400,000
Hurwitz Family LP I
Nationsbank
Grant Deed
—
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.
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