Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1506 Tilco Dr Frederick, MD 21704-6659

    • Auto shops
    • 6,520 SF
    • 1.57 lot acres
    OFF-MARKET
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2235056
    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.

    Current Use by Public Records

    • Frederick Vehicle Emissions Testing Station / Department Of Motor Vehicles
    • Frederick County VEIP Station / Vehicle Inspection Center

    Property Details for 1506 Tilco Dr

    Year built
    1994
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.57 lot acres
    Property size
    6,520 SF
    Zone code
    M1
    Property type
    Auto shops
    APN
    02-189038
    APU
    2189038

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $931,000
      Market price range: $557k - $1.62M
      AI Estimate
      $600,000
      Market price range: $352k - $1.15M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,030,000
      Current use
      WAREHOUSE, STORAGE
      $910,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.3868
    Latitude
    39.4003
    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
    $624
    $0.00
    $0.00
    $1,142,867
    -
    $341,900
    $856,500
    $1,198,400

    Comparable in this City

    • Value Estimation
      $685,000
      3,240 SF

      5715 Buckeystown Pike

      AUTO REPAIR, GARAGE • 3,240 SF
      5715 Buckeystown Pike, Frederick, MD 21704-7209
      View Details
    • Value Estimation
      $2,430,000
      11,940 SF

      5629 Buckeystown Pike

      AUTO REPAIR, GARAGE • 11,940 SF
      5629 Buckeystown Pike, Frederick, MD 21704-8358
      View Details
    • Value Estimation
      $2,660,000
      12,540 SF

      5111 Buckeystown Pike

      AUTO REPAIR, GARAGE • 12,540 SF
      5111 Buckeystown Pike, Frederick, MD 21704-8305
      View Details
    • Value Estimation
      $875,000
      12,550 SF

      1439 Interstate Ct

      AUTO REPAIR, GARAGE • 12,550 SF
      1439 Interstate Ct, Frederick, MD 21704
      View Details
    • Value Estimation
      $1,205,000
      9,100 SF

      7700 Grv Rd

      AUTO REPAIR, GARAGE • 9,100 SF
      7700 Grv Rd, Frederick, MD 21704-6617
      View Details
    • Value Estimation by Request
      768 SF

      Urbana Pike

      AUTO REPAIR, GARAGE • 768 SF
      Urbana Pike, Frederick, MD 21704
      View Details

    Similar Nearby for Sale

    • $2,400,000

      Prime Location Near FSK Mall

      Property near FSK Mall suitable for retail, auto, or industrial.
      7415 Grove Rd, Frederick, MD 21704
      View Details
    • $749,000

      Historic Building with Updated Interior

      Updated historic building suitable for a small business owner.
      3504 Urbana Pike, Urbana, MD 21704
      View Details
    • $2,500,000

      Commercial Suites in Urbana

      Professional business and retail suites with high visibility and accessibility.
      3535 Urbana Pike, Frederick, MD 21704
      View Details
    • Contact for pricing
      3,699 SF

      Retail Property Near National Retailers

      Retail property with a long-term lease and rental escalations.
      5420 Urbana Pike, Frederick, MD 21704
      View Details
    • $930,000

      Frederick Specialty Property For Sale

      Specialty property available for purchase in Frederick, Maryland.
      4006 Belgrave Cir, Frederick, MD 21704
      View Details
    • Contact for pricing
      0.03 Acres

      Worthington Blvd Commercial Townhouse

      Frederick Office/Retail Space - 900 SF
      3536 Worthington Blvd, Frederick, MD 21704
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      123,665 SF

      Urbana Retail Center - Prime Location

      Two Suites Available, Frederick County, MD
      3530 Sugarloaf Pkwy, Urbana, MD 21704
      View Details
    • $2,000 /Mo

      Urbana Town Center Commercial Unit

      First-level commercial unit in Urbana Town Center, suitable for businesses.
      3536 Worthington Blvd, Frederick, MD 21704
      View Details
    • Contact for pricing
      1 SF

      Prime Frederick Retail Pad Site

      5.2 Acres, Two Spaces Available
      7589 Shields Dr, Frederick, MD 21704
      View Details
    • $3,750 /Mo
      12,632 SF

      Renovated Commercial Property in Urbana

      Renovated commercial property suitable for retail or office use.
      8832 Urbana Church Rd, Urbana, MD 21704
      View Details
    • Contact for pricing
      121,655 SF

      Urbana Executive Office Suites

      Frederick, MD: Prime Office Space Available
      & Rt MD 355 Sugarloaf Pkwy, Frederick, MD 21704
      View Details
    • Contact for pricing
      2,024 SF

      Premier Lifestyle Center Retail Space

      Retail space available in Frederick County's premier lifestyle center.
      5205-5253 Buckeystown Pike, Frederick, MD 21704
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1506 Tilco Dr
    Frederick, MD 21704-6659
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!