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Property profile & analytics
OFF-MARKET
Estimated value
$2,160,000
Investment properties
105 Market St Frederick, MD 21701-5421
Entity Owned
~
Est. High Equity
Property ID
US40-0289863
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,680 SF
Lot
0.08 ac (3,438 SF)
Zoning code
DB
APN
02-030802
UPID
US40-0289863
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
-
South Market Sandwich Company Take-out & Catering
-
Firestone's Culinary Tavern Restaurant
-
Sidecar Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$2.16M
Owner & transaction history
N Market Ventures LLC
N Market Ventures LLC
since 2025
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
DB · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.1M
+43.9%
Restaurant
$2.7M
+24.2%
Retail stores
$2.4M
+11.0%
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
COMMERCIAL (GENERAL)
$2,185,000
Current use
OFFICE BUILDING
$3,145,000
Change: +44% · Conversion: Easy
RESTAURANT
$2,715,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$2,425,000
Change: +11% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,130,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$2.16M
Range $1.94M – $2.38M · ±10% · vs last sale $2.57M (Jun 25 2025)
Last sale anchor
$2.57M
Jun 25 2025
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
$249 / 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
$25,791
Tax year 2023
Assessed value
$1,310,500
Assessed 2023
Previous assessed
$1,267,300
+3.4% YoY
Effective rate
1.97%
On assessed value
Land market value
$257,100
Improvement market value
$1,139,800
Total market value
$1,396,900
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
4
Units
2
Total area
8,680 SF
Lot
0.08 ac (3,438 SF)
Zoning code
DB
APN
02-030802
UPID
US40-0289863
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
COMMERCIAL (GENERAL) Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$3.1M
RESTAURANT
Est. value
$2.7M
RETAIL STORES
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
4
Units
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
N Market Ventures LLC
Entity
Mailing address
PO BOX 76, MIDDLETOWN, MD 21769-0076
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2025
$2,567,042
N Market Ventures LLC
105 North Market LLC
Deed
$2,582,000 · Bank Of Clarke
Sep 9, 2021
$205,000
Nt Restaurants Group LLC
Lafayette Properties LLC
Deed
—
Jan 12, 1999
$400,000
105 North Market LLC
Donnelly,william J
Grant Deed
$320,000 · Nationsbank
—
—
105 North Market LLC
—
Deed Of Trust
related
$110,000 · Bank Of America
—
—
105 North Market LLC
—
Deed Of Trust
related
$20,000 · Bank Of America
—
—
105 North Market LLC
—
Deed Of Trust
related
$510,000 · Bank Of America
—
—
105 North Market LLC
—
Deed Of Trust
related
$605,000 · Bank Of America
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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