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Property profile & analytics
OFF-MARKET
Estimated value
$7,350,000
Retail space
1215 Patrick St, Frederick, MD 21702-3905
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1349297
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
59,352 SF
Lot
6.1 ac (265,716 SF)
Zoning code
GC
APN
02-044102
UPID
US40-1349297
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 Farmers Market Specialty Food Shop Farmer's Market
-
Gavigan's Furniture Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.35M
CAP Approach
CAP
$9.95M
Comparable Approach
Comparable
$9.17M
Blend (final)
Blend
$7.35M
Owner & transaction history
1215 W Patrick LLC · 1 yrs held
1215 W Patrick LLC
since 2024
Last sale
$7.4M
3 recorded transactions
Zoning & alternative use
GC · 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
Method
Estimation
Statistic approach
$7,350,000
ML approach
$7,350,000
CAP Approach
CAP Return
Estimation
6%
$10,775,000
6.5%
$9,945,000
7%
$9,235,000
Blend value · Realmo final
$7.35M
Range $6.62M – $8.09M · ±10% · vs last sale $7.35M (Aug 28 2024)
Last sale anchor
$7.35M
Aug 28 2024
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
$124 / 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
$68,286
Tax year 2023
Assessed value
$4,228,267
Assessed 2024
Previous assessed
$4,228,267
+0.0% YoY
Effective rate
1.61%
On assessed value
Land market value
$1,833,400
Improvement market value
$3,699,400
Total market value
$5,532,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
59,352 SF
Lot
6.1 ac (265,716 SF)
Zoning code
GC
APN
02-044102
UPID
US40-1349297
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
GC · Frederick, MD
Zoning GC · permitted uses
GC · 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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
6.1 ac
Current owner
From public records · entity-resolved
1215 W Patrick LLC
Entity
Mailing address
700 EVELYN AVE STE B, LINTHICUM HEIGHTS, MD 21090-1325
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2024
$7,350,000
1215 W Patrick LLC
Frederick Blico LLP
Re-recorded Document
related
$6,247,500 · The Bank Of Glen Burnie
Aug 28, 2024
$7,350,000
1215 W Patrick LLC
Frederick Blico LLP
Deed
—
—
—
Frederick-blico LLP
—
Deed Of Trust
related
$3,820,000 · Manufacturers Traders & Trust
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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