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Property profile & analytics
OFF-MARKET
Estimated value
$5,345,000
Warehouses
113 Wormans Ml Ct Frederick, MD 21701
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US40-1509937
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1997
Construction
BRICK
Total area
40,800 SF
Lot
3.59 ac (156,503 SF)
Zoning code
M1
APN
02-143658
UPID
US40-1509937
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
by Request
CAP Approach
CAP
$5.57M
Comparable Approach
Comparable
$5.80M
Blend (final)
Blend
$5.35M
Owner & transaction history
Rpc Frederick 115 LLC · 11 yrs held
Rpc Frederick 115 LLC
since 2015
4 recorded transactions
Zoning & alternative use
M1 · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
not able to meet the criteria applicable in the M1 districts. General retail and residential uses are not appropriate for this zone. MO (Manufacturing/ Office) The M/O district is intended to provide a park-like setting for a community of industries, having no nuisance factors as a means of protecting investments within the district, and reducing the impact…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
3,039.93 ac
Source
ARTICLE 4 - ZONING
Top alternative use upside
Auto repair, garage
$6.5M
+13.6%
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%
$6,030,000
6.5%
$5,570,000
7%
$5,170,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,680,000
Current use
AUTO REPAIR, GARAGE
$6,450,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$5.35M
Range $4.81M – $5.88M · ±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
$131 / 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
$92,387
Tax year 2023
Assessed value
$5,064,400
Assessed 2023
Previous assessed
$4,237,567
+19.5% YoY
Effective rate
1.82%
On assessed value
Assessed land
$1,097,800
Assessed improvement
$3,966,600
Land market value
$1,097,800
Improvement market value
$3,966,600
Total market value
$5,064,400
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
BRICK
Heating
NONE
Buildings
4
Stories
2
Units
4
Total area
40,800 SF
Lot
3.59 ac (156,503 SF)
Zoning code
M1
APN
02-143658
UPID
US40-1509937
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
M1 · Frederick, MDZoning M1 · permitted uses
M1 · Frederick, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
not able to meet the criteria applicable in the M1 districts. General retail and residential uses are not appropriate for this zone. MO (Manufacturing/ Office) The M/O district is intended to provide a park-like setting for a community of industries, having no nuisance factors as a means of protecting investments within the district, and reducing the impact of industrial uses on surrounding districts. Though leeway is provided concerning the type of industry permitted within the district the appearance and means of operation shall be scrutinized and compared to the performance standards provided herein.
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
3,039.93 ac
Source
ARTICLE 4 - ZONING
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$6.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
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
1997
Construction
BRICK
Heating
NONE
Stories
2
Buildings
4
Units
4
Lot
3.59 ac
Current owner
From public records · entity-resolved
Rpc Frederick 115 LLC
Entity
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2025
—
Rpc Frederick 115 LLC
—
Deed
related
$125,000,000 · Prudential Insurance Of America
Apr 10, 2015
$6,683,873
Rpc Frederick 115 LLC
Dbob Frederick North Fee LLC
Special Warranty Deed
—
Jan 30, 2007
$6,830,000
Dbob Frederick North Fee LLC
Fms North Busn Trust
Grant Deed
$3,100,000 · Ge Capital Series 2001-3
Mar 3, 2005
—
Fms North Business Trust
Frederick Mini Storage North INC
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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