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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Warehouses
120 Monroe Ave Frederick, MD 21701-3112
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-0964174
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1979
Construction
BRICK
Total area
9,280 SF
Lot
5.41 ac (235,660 SF)
Zoning code
M1
APN
02-046113
UPID
US40-0964174
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
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Crime Scene Inc. Hardware & Home Improvement
-
Frederick Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.80M
Owner & transaction history
Fss LP · 9 yrs held
Fss LP
since 2016
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
Restaurant
$2.9M
+124.7%
Retail stores
$2.6M
+100.8%
Commercial (general)
$2.3M
+81.0%
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
WAREHOUSE, STORAGE
$1,290,000
Current use
RESTAURANT
$2,905,000
Change: +125% · Conversion: Difficult
RETAIL STORES
$2,595,000
Change: +101% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,340,000
Change: +81% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,275,000
Change: +76% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,465,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±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
$194 / 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
$112,603
Tax year 2023
Assessed value
$6,165,600
Assessed 2023
Previous assessed
$5,492,000
+12.3% YoY
Effective rate
1.83%
On assessed value
Land market value
$1,531,700
Improvement market value
$5,981,100
Total market value
$7,512,800
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
1979
Construction
BRICK
Heating
HEAT PUMP
Buildings
16
Stories
1
Units
779
Total area
9,280 SF
Lot
5.41 ac (235,660 SF)
Zoning code
M1
APN
02-046113
UPID
US40-0964174
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
$1.3M
RESTAURANT
Est. value
$2.9M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.5M
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1979
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Buildings
16
Units
779
Lot
5.41 ac
Current owner
From public records · entity-resolved
Fss LP
Entity
Mailing address
1682 E GUDE DR STE #201, ROCKVILLE, MD 20850-5345
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Oct 17, 2016
—
Fss LP
—
Deed
related
$3,600,000 · Miscellaneous Ins Co
—
—
Fss
—
Deed Of Trust
related
$3,400,000 · Column Financial INC
—
—
Fss LP
—
Deed Of Trust
related
$2,700,000 · General Electric Capital Corp
—
—
Fss LP
—
Deed Of Trust
related
$3,600,000 · Miscellaneous Ins Co
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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