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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Grocery and convenience stores
23 Thomas Johnson Dr Frederick, MD 21702
Individually Owned
19-yr Hold
Free & Clear
Property ID
US40-2315938
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2021
Total area
5,982 SF
Lot
1.32 ac (57,499 SF)
Zoning code
M1
APN
02-242648
UPID
US40-2315938
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
-
PNC ATM Atm
-
Sheetz Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1,000k
Blend (final)
Blend
$745k
Owner & transaction history
Thomas Johnson Christopher Cro · 19 yrs held
Thomas Johnson Christopher Cro
since 2006
2 recorded transactions
Zoning & alternative use
M1 · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+228.7%
Commercial (general)
$1.1M
+205.1%
Restaurant
$1.1M
+190.2%
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
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,220,000
Change: +229% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,135,000
Change: +205% · Conversion: Easy
RESTAURANT
$1,080,000
Change: +190% · Conversion: Difficult
MEDICAL BUILDING
$630,000
Change: +69% · Conversion: Difficult
WAREHOUSE, STORAGE
$625,000
Change: +68% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$615,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$610,000
Change: +64% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$125 / 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
$41,318
Tax year 2023
Assessed value
$2,236,300
Assessed 2023
Previous assessed
$1,995,367
+12.1% YoY
Effective rate
1.85%
On assessed value
Assessed land
$632,300
Assessed improvement
$1,604,000
Land market value
$632,300
Improvement market value
$1,604,000
Total market value
$2,236,300
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2021
Heating
FORCED AIR
Stories
1
Units
1
Total area
5,982 SF
Lot
1.32 ac (57,499 SF)
Zoning code
M1
APN
02-242648
UPID
US40-2315938
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$630,000
WAREHOUSE, STORAGE
Est. value
$625,000
INDUSTRIAL (GENERAL)
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$610,000
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2021
Heating
FORCED AIR
Stories
1
Units
1
Lot
1.32 ac
Current owner
From public records · entity-resolved
Thomas Johnson Christopher Cro
Individual
Free & Clear · 19 yrs held
Mailing address
3333 14TH ST NW STE #300, WASHINGTON, DC 20010-2319
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2006
—
Thomas Johnson Christopher Cro
San Miguel East LLC
Grant Deed
—
Apr 2, 2004
$1,000,000
San Miguel East LLC
Hayward Investors LLC
Grant Deed
—
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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