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    1202 E Patrick St Frederick, MD 21701
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    Property profile & analytics

    1202 E Patrick St Frederick, MD 21701

    View on Map
    • Strip malls
    • 34,750 SF
    • 4.16 lot acres
    For Lease
    $1,915,000
    View Listing →
    Retail Pad Sites Available For Lease
    $1,915,000
    5,500 SF

    Retail Pad Sites Available

    Retail pad sites with excellent visibility and access available for rent.

    1202 E Patrick St, Frederick, MD
    View Listing
    Property ID
    US40-0917361
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • JR'S PIZZA / Restaurant
    • Liberty Tax / Accounting Firm / Tax Preparation
    • Funky Do / Hair Salon
    • Ageless Image / Hair Salon
    • Belles' Sports Bar & Grill / Bar & Pub / Restaurant

    Property Details for 1202 E Patrick St

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.16 lot acres
    Property size
    34,750 SF
    Zone code
    GC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    02-127687
    APU
    2127687

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,917,000
      Market price range: $1.37M - $5.17M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,160,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.3895
    Latitude
    39.4074
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $92,258
    $0.00
    $0.00
    $5,085,300
    -
    $2,634,000
    $2,730,900
    $5,364,900

    Comparable in this City

    • Value Estimation
      $675,000
      14,136 SF

      1800 Monocacy Blvd

      SHOPPING CENTER, STRIP CENTER • 14,136 SF
      1800 Monocacy Blvd, Frederick, MD 21701-5109
      View Details
    • Value Estimation
      $4,875,000
      11,225 SF

      467 Patrick St

      SHOPPING CENTER, STRIP CENTER • 11,225 SF
      467 Patrick St, Frederick, MD 21701-4805
      View Details
    • Value Estimation by Request
      7,700 SF

      1407 Patrick-thur 1413th St

      SHOPPING CENTER, STRIP CENTER • 7,700 SF
      1407 Patrick-thur 1413th St, Frederick, MD 21701
      View Details
    • Value Estimation
      $15,770,000
      8,913 SF

      5 Prospect Blvd

      SHOPPING CENTER, STRIP CENTER • 8,913 SF
      5 Prospect Blvd, Frederick, MD 21701
      View Details
    • Value Estimation
      $6,020,000
      111,939 SF

      1700 Kingfisher Dr

      SHOPPING CENTER, STRIP CENTER • 111,939 SF
      1700 Kingfisher Dr, Frederick, MD 21701-4775
      View Details
    • Value Estimation
      $3,110,000
      78,898 SF

      900 St

      SHOPPING CENTER, STRIP CENTER • 78,898 SF
      900 St, Frederick, MD 21701-4622
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,060 SF

      Retail Center Space Available

      Retail space for sale in North Frederick.
      1800 Monocacy Blvd, Frederick, MD 21701
      View Details
    • $545,000

      Downtown Frederick Commercial Opportunity

      Prime commercial property in downtown Frederick with versatile zoning.
      325 W 7Th St, Frederick, MD 21701
      View Details
    • $5,250,000
      4,000 SF

      Historic Building in Frederick Area

      25,586 SF building with development rights in Frederick, MD.
      12-16 W Patrick St, Frederick, MD 21701
      View Details
    • $2,190,000
      2,800 SF

      Retail Investment Opportunity

      Fully leased retail property with versatile development options.
      500 W Patrick St, Frederick, MD 21701
      View Details
    • $495,000

      Frederick Commercial Property For Sale

      Two units with M2 zoning, potential for various uses.
      804-6 E South St, Frederick, MD 21701
      View Details
    • $439,000

      Frederick Mixed-Use Property For Sale

      Mixed-use property with commercial potential in a vibrant Frederick location.
      431 Patrick St, Frederick, MD 21701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,900 SF

      Retail Space Near Jefferson Street

      Retail space with high visibility and excellent access.
      434-490 Prospect Blvd, Frederick, MD 21701
      View Details
    • Contact for pricing
      1,375 SF

      Retail Space in Frederick, Maryland

      Retail space for lease in a neighborhood shopping center.
      1700 Kingfisher Dr, Frederick, MD 21701
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Anchored Center

      1,200 SF retail space in Wegmans and Lowe’s anchored center.
      7820 Wormans Mill Rd, Frederick, MD 21701
      View Details
    • Contact for pricing
      4,700 SF

      Retail Space in Growing Frederick

      Retail space available in Frederick, Maryland's growing city.
      403-419 S Jefferson St, Frederick, MD 21701
      View Details
    • $63,685

      Downtown Frederick Retail Space Available

      Street-level retail space in a prime downtown Frederick location.
      244 E Patrick St, Frederick, MD 21701
      View Details
    • $20 SF/Yr
      5,009 SF

      Retail Space in Shell Condition

      2,279 SF retail or restaurant space for lease.
      358 W Patrick St, Frederick, MD 21701
      View Details
    View Listing
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    1202 E Patrick St
    Frederick, MD 21701
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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