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Property profile & analytics
OFF-MARKET
Estimated value
$1,450,000
Grocery and convenience stores
1001 Patrick St Frederick, MD 21702-3903
Entity Owned
9-yr Hold
Free & Clear
Property ID
US40-1363189
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,525 SF
Lot
2.51 ac (109,336 SF)
Zoning code
GC
APN
02-109999
UPID
US40-1363189
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
-
Wawa Gas Station Gas Station
-
Wawa Restaurant
-
USAA Atm
-
PNC ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.45M
Owner & transaction history
Gm Gateway LLC · 9 yrs held
Gm Gateway LLC
since 2017
6 recorded transactions
Zoning & alternative use
GC · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+228.7%
Commercial (general)
$1.0M
+205.1%
Restaurant
$995,000
+190.2%
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 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
$1,130,000
Change: +229% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,045,000
Change: +205% · Conversion: Easy
RESTAURANT
$995,000
Change: +190% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.31M – $1.60M · ±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
$262 / 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
$68,697
Tax year 2023
Assessed value
$3,697,200
Assessed 2023
Previous assessed
$3,533,033
+4.6% YoY
Effective rate
1.86%
On assessed value
Assessed land
$943,000
Assessed improvement
$2,754,200
Land market value
$943,000
Improvement market value
$2,754,200
Total market value
$3,697,200
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
5,525 SF
Lot
2.51 ac (109,336 SF)
Zoning code
GC
APN
02-109999
UPID
US40-1363189
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
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RESTAURANT
Est. value
$995,000
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
2.51 ac
Current owner
From public records · entity-resolved
Gm Gateway LLC
Entity
Free & Clear · 9 yrs held
Mailing address
24024 FREDERICK RD #200, CLARKSBURG, MD 20871-9718
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2017
—
Gm Gateway LLC
Gm Gateway LLC
Quit Claim Deed
related
—
Aug 12, 2005
$10
Gm Gateway LLC
Urbana Highlands Dev LLC
Grant Deed
—
Dec 31, 2003
$120,230
Ragenia Steel
Pleasants,william D
Grant Deed
—
Dec 31, 2003
$120,220
Sherry Stiles
Pleasants,william D
Grant Deed
—
Jun 4, 2003
$2,100,000
William D Pleasants
Maryland State
Grant Deed
—
—
—
Gm Gateway LLC
—
Deed Of Trust
related
$2,999,999 · Branch Bk&tr
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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