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Property profile & analytics
OFF-MARKET
Turn key restaurants
118 Market St, Frederick, MD 21701-5527
Entity Owned
2-yr Hold
Free & Clear
Property ID
US40-0908713
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,015 SF
Lot
0.28 ac (12,023 SF)
Zoning code
DB
APN
02-092557
UPID
US40-0908713
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
-
Frederick CREST (Center for Research & Education in Science & Technology) Research Institute
-
Homegrown Frederick Agricultural Service
-
Frederick County Chamber of Commerce Business Service Center Advocacy Group
-
TechFrederick Charitable Organization Social Service Agency
-
Hood College's Martha E. Church Center for Community & Civic Engagement Private College
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
118 South Market LLC · 2 yrs held
118 South Market LLC
since 2023
7 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,616
Tax year 2023
Assessed value
$527,967
Assessed 2023
Previous assessed
$527,967
+0.0% YoY
Effective rate
1.82%
On assessed value
Land market value
$284,300
Improvement market value
$269,200
Total market value
$553,500
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
1
Total area
2,015 SF
Lot
0.28 ac (12,023 SF)
Zoning code
DB
APN
02-092557
UPID
US40-0908713
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.
Building & site characteristics
From public records
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
118 South Market LLC
Entity
Free & Clear · 2 yrs held
Mailing address
118 S MARKET ST FREDERICK
Ownership since
2023
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
Nov 7, 2023
—
118 South Market LLC
Smoke House Properties LLC
Deed
—
Nov 2, 2023
—
Smoke House Properties LLC
Smoke House Properties LLC
Intrafamily Transfer
related
—
Jun 10, 2021
—
Smoke House Properties LLC
118 South Market LLC
Deed
—
Aug 30, 2019
—
118 South Market LLC
Smoke House Properties LLC
Grant Deed
—
Nov 15, 2007
$540,000
Smoke House Properties LLC
Null Donald E Trust
Grant Deed
$363,000 · Sandy Spring Bank
—
—
Smoke House Properties LLC
—
Deed Of Trust
related
$560,000 · Sandy Spring Bank
—
—
Smoke House Properties LLC
—
Deed Of Trust
related
$37,275 · Sandy Spring 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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