Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3 College Ave Ste, Unit 2 Frederick, MD 21701-4806
    Back to Search
    Property profile & analytics

    3 College Ave Ste, Unit 2, Frederick, MD 21701-4806

    View on Map
    • Office Spaces
    • 848 SF
    • 0.03 lot acres
    Off-Market
    Last Sale Jan 3, 2025
    $145,000
    Property ID
    US40-1220283
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 3 College Ave Ste

    Year built
    1990
    Lot size
    0.03 lot acres
    Zone code
    DB
    Property type
    Office Spaces
    APN
    02-173999
    APU
    2173999

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 3, 2025 $145,000 James V Rizzo Gail S Boyer Deed —
    Jul 23, 2024 — Gail S Boyer — Deed · related $315k · Middletown Valley Bank
    Jun 7, 1999 $74,000 Boyer Trust James P Delorenzo Trustee Grant Deed $69k · Fcnb Bank
    — — Boyer Bruce E & Gail S Trust — Deed Of Trust · related $100k · Frederick County Bank
    — — Boyer Bruce E & Gail S Trust — Deed Of Trust · related $52k · Frederick County Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.4187
    Latitude
    39.4136
    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
    $2,760
    $0.00
    $0.00
    $151,200
    -
    $51,700
    $105,100
    $156,800

    Comparable in this City

    • Value Estimation
      $555,000
      2,077 SF

      47 Es St, Unit 1

      CONDOMINIUM OFFICES
      47 Es St, Frederick, MD 21701-5980
      View Details
    • Value Estimation by Request
      1,756 SF

      47 Es St Ste, Unit 101

      CONDOMINIUM OFFICES
      47 Es St Ste, Frederick, MD 21701-5981
      View Details
    • Value Estimation by Request
      726 SF

      47 Es St Ste, Unit 202

      CONDOMINIUM OFFICES
      47 Es St Ste, Frederick, MD 21701-5982
      View Details
    • Value Estimation by Request
      870 SF

      47 Es St Ste, Unit 203

      CONDOMINIUM OFFICES
      47 Es St Ste, Frederick, MD 21701-5982
      View Details
    • Value Estimation by Request
      1,400 SF

      9093 Ridgefield Dr1-e-1

      CONDOMINIUM OFFICES
      9093 Ridgefield Dr1-e-1, Frederick, MD 21701-6710
      View Details
    • Value Estimation
      $590,000
      1,978 SF

      129 Patrick St, Unit B5

      CONDOMINIUM OFFICES
      129 Patrick St, Frederick, MD 21701-5551
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.02 Acres

      Downtown Frederick Office Suite

      Prime Office Space, Abundant Light
      5 Floo, Frederick, MD 21701
      View Details
    • $1,300,000

      Historic Mixed-Use Complex For Sale

      Mixed-use complex in Hub and Opportunity Zone with unlimited potential.
      37-39 E South St, Frederick, MD 21701
      View Details
    • $1,350,000

      Historic Mixed-Use Property For Sale

      Historic property with commercial and residential potential in Frederick, MD.
      110 N Court St, Frederick, MD 21701
      View Details
    • Contact for pricing

      Historic Building on Carroll Creek

      Three-story building in historic downtown Frederick with commercial/residential zoning.
      47 E All Saints St, Frederick, MD 21701
      View Details
    • Contact for pricing

      Luxury Office Condo in Frederick

      Class A office condo in vibrant Downtown Frederick location.
      50 Carroll Creek Way, Frederick, MD 21701
      View Details
    • Contact for pricing
      1,653 SF

      Remodeled Office Space with Furnishings

      Fully furnished, remodeled office space available for rent.
      127-129 W Patrick St, Frederick, MD 21701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Mixed-Use Condo For Rent

      Industrial mixed-use condo available for rent in a desirable location.
      1 Wormans Mill Ct, Frederick, MD 21701
      View Details
    • Contact for pricing

      Downtown Frederick Commercial Building

      Premier commercial building in Downtown Frederick with multiple spaces available.
      14 W Patrick St, Frederick, MD 21701
      View Details
    • Contact for pricing
      4,075 SF

      Downtown Frederick Office Space Available

      Modern office suites for lease in Downtown Frederick Historic District.
      47 E South St, Frederick, MD 21701
      View Details
    • Contact for pricing
      7,268 SF

      Downtown Frederick Flex/Warehouse Space

      Flex/warehouse space near I-70 and Frederick Municipal Airport.
      215 E 8Th St, Frederick, MD 21701
      View Details
    • $18 SF/Yr
      133,729 SF

      Frederick Commercial Space For Lease

      Highly visible commercial space with ADA access and ample parking.
      198 Thomas Johnson Dr, Frederick, MD 21701
      View Details
    • Contact for pricing
      38,120 SF

      Flex Space Near Biotech Hub

      Flex/R&D space in Frederick County near key institutions.
      424 Mohican Dr, Frederick, MD 21701
      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.
    3 College Ave Ste, Unit 2
    Frederick, MD 21701-4806
    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

    Thank You for Inquiry
    3 College Ave Ste, Frederick, MD, 21701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!