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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Investment properties
226 Patrick St Frederick, MD 21701-5676
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US40-2238337
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1860
Total area
3,312 SF
Lot
0.17 ac (7,533 SF)
Zoning code
DB
APN
02-059703
UPID
US40-2238337
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
-
Stephen A Glessner Law Offices Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$711k
Blend (final)
Blend
$745k
Owner & transaction history
Chc Properties LLC · 3 yrs held
Chc Properties LLC
since 2022
Last sale
$775,000
5 recorded transactions
Zoning & alternative use
DB · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+43.9%
Retail stores
$925,000
+11.0%
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
$795,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$835,000
Current use
OFFICE BUILDING
$1,200,000
Change: +44% · Conversion: Easy
RETAIL STORES
$925,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$745k
Range $671k – $820k · ±10% · vs last sale $775k (Sep 12 2022)
Last sale anchor
$775k
Sep 12 2022
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
$225 / 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
$9,334
Tax year 2023
Assessed value
$514,567
Assessed 2023
Previous assessed
$514,567
+0.0% YoY
Effective rate
1.81%
On assessed value
Land market value
$315,400
Improvement market value
$259,700
Total market value
$575,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1860
Heating
RADIANT
Cooling
AC.PACKAGE
Stories
2
Units
7
Bathrooms
4
Total area
3,312 SF
Lot
0.17 ac (7,533 SF)
Zoning code
DB
APN
02-059703
UPID
US40-2238337
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
DB · Frederick, MD
Zoning DB · permitted uses
DB · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$835,000
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$925,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
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
1860
Heating
RADIANT
Cooling
Yes
Stories
2
Units
7
Bathrooms
4
Lot
0.17 ac
Current owner
From public records · entity-resolved
Chc Properties LLC
Entity
Mailing address
230 E PATRICK ST #202, FREDERICK, MD 21701-5676
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2022
$775,000
Chc Properties LLC
Stephen A Glessner
Deed
$200,000 · Stephen Glessner
Oct 23, 2020
—
Michael J Parsley
Margaret J Parsley
Quit Claim Deed
related
—
Feb 3, 2017
—
Stephen Glessner
—
Deed
related
$285,000 · Sandy Spring Bank
Jun 30, 2006
—
Stephen A Glessner
East Side LLC
Grant Deed
—
Jun 30, 1999
$150,500
East Side LLC
Ponton,lucille H
Grant Deed
$150,450 · Seller
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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