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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Medical Office Space
10 Water St, Thurmont, MD 21788-1912
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-1376601
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1969
Construction
WOOD
Total area
3,140 SF
Lot
0.19 ac (8,276 SF)
Zoning code
TB
APN
15-322969
UPID
US40-1376601
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$985k
CAP Approach
CAP
$910k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$900k
Owner & transaction history
Nf Property LLC · 5 yrs held
Nf Property LLC
since 2021
Last sale
$800,000
2 recorded transactions
Zoning & alternative use
TB · Thurmont, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$605,000
+71.2%
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 Thurmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Thurmont 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
$1,000,000
ML approach
$985,000
CAP Approach
CAP Return
Estimation
6%
$990,000
6.5%
$910,000
7%
$845,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$605,000
Change: +71% · Conversion: Easy
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $800k (Feb 16 2021)
Last sale anchor
$800k
Feb 16 2021
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
$287 / 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
$7,170
Tax year 2023
Assessed value
$468,600
Assessed 2023
Previous assessed
$460,700
+1.7% YoY
Effective rate
1.53%
On assessed value
Assessed land
$94,100
Assessed improvement
$374,500
Land market value
$94,100
Improvement market value
$374,500
Total market value
$468,600
Applied tax rate
10.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1969
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
3,140 SF
Lot
0.19 ac (8,276 SF)
Zoning code
TB
APN
15-322969
UPID
US40-1376601
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
TB · Thurmont, MD
Zoning TB · permitted uses
TB · Thurmont, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Thurmont. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$605,000
OFFICE BUILDING
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
1969
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Nf Property LLC
Entity
Mailing address
10 WATER ST, THURMONT, MD 21788-1912
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2021
$800,000
Nf Property LLC
Love Properties LLC
Deed
$640,000 · Td Bank NA
Jun 29, 2004
—
Love Properties LLC
Love,richard B & Gay J
Quit Claim Deed
related
$700,000 · Farmers & Mechanics Bank
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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