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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Life science properties
15 Wormans Ml Ct Frederick, MD 21701-3019
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US40-0811884
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
40,400 SF
Lot
2.78 ac (121,127 SF)
Zoning code
M1
APN
02-143747
UPID
US40-0811884
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
-
Charles River Pathology Associates Laboratory
-
Plastic Surgery One Physician
-
Teri Heger Foster Care Service Social Service Agency
-
Office Pride Commercial Cleaning Services of Frederick Commercial Cleaning Service Janitorial Service
-
Milestone Biomedical Associates Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$925k
Owner & transaction history
Ritchie Road Investors LLC · 12 yrs held
Ritchie Road Investors LLC
since 2013
4 recorded transactions
Zoning & alternative use
M1 · 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
by Request
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±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
$23 / 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
$66,352
Tax year 2023
Assessed value
$3,644,200
Assessed 2023
Previous assessed
$3,553,233
+2.6% YoY
Effective rate
1.82%
On assessed value
Assessed land
$524,400
Assessed improvement
$3,119,800
Land market value
$524,400
Improvement market value
$3,119,800
Total market value
$3,644,200
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Units
1
Total area
40,400 SF
Lot
2.78 ac (121,127 SF)
Zoning code
M1
APN
02-143747
UPID
US40-0811884
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
M1 · Frederick, MD
Zoning M1 · permitted uses
M1 · 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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Units
1
Lot
2.78 ac
Current owner
From public records · entity-resolved
Ritchie Road Investors LLC
Entity
Mailing address
2141 INDUSTRIAL PKWY, SILVER SPRING, MD 20904-1988
Ownership since
2013
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
Mar 7, 2018
—
Wormans Mill Associates LLC
—
Deed
related
$1,771,040 · Eagle Bk
Dec 18, 2013
$3,520,000
Ritchie Road Investors LLC
Pf Properties LLC
Grant Deed
$2,400,000 · Eagle Bank
Jan 15, 1998
$2,500,000
Butera Properties LLC
Wormans Mill General Ptshp
Grant Deed
$2,000,000 · Credit Suisse First Boston Mtg
—
—
Wormans Mill Associates LLC
—
Loan Modification
related
$1,771,040 · Eagle Bk
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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