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    Property profile & analytics

    2401 Whittier Dr Frederick, MD 21702-3355

    • Day care centers
    • 9,017 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2299189
    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

    • P.I.G.S. BBQ / Barbecue Restaurant / Catering Food And Drink Supplier
    • Lakefront Fine Wine & Spirits / Liquor Store
    • Brother’s Pizza / Pizza Delivery / Pizza Restaurant
    • Whittier Barber & Stylist / Barber Shop
    • The Cutting Edge Styling Studio, Inc / Hair Salon

    Property Details for 2401 Whittier Dr

    Year built
    2006
    Construction
    WOOD
    Lot size
    0.21 lot acres
    Property size
    9,017 SF
    Zone code
    PND
    Property type
    Day care centers
    APN
    02-599610
    APU
    2599610

    Description

    Exceptional investment opportunity in Frederick, MD, presents a Class A, 57,000 square foot shopping center and office building complex. This property, built in 2006, boasts two buildings totaling over 43,000 square feet of leasable space, including a 21,377 square foot shopping center and a 21,788 square foot office building. Additional square footage is occupied by a daycare center. The complex is strategically located at the main entrance of the Whittier Planned Urban Development (PUD), providing convenient access for residents and visitors. Each suite features modern layouts, individual HVAC systems, and ample parking, with a generous 5.61 spaces per 1,000 square feet ratio. The property is zoned GC and sits on a 57,000 square foot lot. With a strong net operating income (NOI) of $505,732 and an attractive 5.60% capitalization rate, this offering presents a compelling investment opportunity priced at $9,000,000. The sale is structured to accommodate a 1031 exchange. This exceptional property offers a blend of retail and office space, making it an ideal investment for discerning buyers seeking a high-performing asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.4476
    Latitude
    39.4549
    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
    $32,155
    $0.00
    $0.00
    $2,004,800
    -
    $568,400
    $1,687,300
    $2,255,700

    Comparable in this City

    • Value Estimation
      $525,000
      13,167 SF

      7819 Rocky Spgs Rd

      DAY CARE, PRE-SCHOOL • 13,167 SF
      7819 Rocky Spgs Rd, Frederick, MD 21702-2824
      View Details
    • Value Estimation
      $300,000
      5,414 SF

      1420 Taney Ave

      DAY CARE, PRE-SCHOOL • 5,414 SF
      1420 Taney Ave, Frederick, MD 21702-4336
      View Details
    • Value Estimation
      $335,000
      5,800 SF

      110 Willowdale Dr

      DAY CARE, PRE-SCHOOL • 5,800 SF
      110 Willowdale Dr, Frederick, MD 21702-3931
      View Details
    • Value Estimation by Request
      7,511 SF

      2150 Old Farm Dr

      DAY CARE, PRE-SCHOOL • 7,511 SF
      2150 Old Farm Dr, Frederick, MD 21702-9441
      View Details
    • Value Estimation
      $360,000
      5,101 SF

      185 Thomas Johnson Dr

      DAY CARE, PRE-SCHOOL • 5,101 SF
      185 Thomas Johnson Dr, Frederick, MD 21702-4314
      View Details
    • Value Estimation
      $350,000
      13,617 SF

      6816 Blentlinger Rd

      CHARITABLE ORGANIZATION • 13,617 SF
      6816 Blentlinger Rd, Frederick, MD 21702-3631
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing

      Prime Frederick County Land Lease

      1.06-acre commercial lot, ideal for fast food or bank.
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      10,000 SF medical office space available for lease.
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      View Details
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    Frederick, MD 21702-3355
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    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
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