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    30 Patrick St Frederick, MD 21701-5628
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    Property profile & analytics

    30 Patrick St, Frederick, MD 21701-5628

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    • Investment properties
    • 3,082 SF
    • 0.07 lot acres
    Off-Market
    Last Sale May 17, 2024
    $495,000
    Property ID
    US40-1488072
    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

    • Benjamin Seibert - Morgan Stanley / Financial Advisor
    • Aion Trauma Center / Crisis Center / Medical Clinic
    • Kismet Ketamine & Wellness Infusions / Medical Clinic
    • Merrill Lynch Financial Advisor Matthew E. Larsen / Financial Advisor
    • Merrill Lynch Private Wealth Advisor Timothy G Mellott / Financial Advisor

    Property Details for 30 Patrick St

    Year built
    1870
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Zone code
    DB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    02-122294
    APU
    2122294

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 17, 2024 $495,000 Mhvp LLC Tribby Properties INC Deed —
    Nov 20, 2020 — Beckar Building Company LLC — Deed · related $705k · Carrol Manor Fire Cap LLC
    Oct 30, 2020 — Becker Building Company LLC — Deed · related $315k · Wendy M Gibson
    May 2, 2019 $15,900,000 Ldg Patrick Center LLC Atlas West End Patrick Center LLC Special Warranty Deed $6M · Eagle Bank

    Description

    This exceptional sublease opportunity presents 14,000 square feet of divisible Class A office space within the Patrick Center in downtown Frederick, Maryland. Located on the fifth and sixth floors, this space boasts stunning views of the city. The layout includes over 25 private offices, providing ample room for a variety of business needs. Four well-appointed conference rooms facilitate productive meetings and collaborations. Additional amenities include multiple break areas, substantial storage space, restrooms, a welcoming reception area, and adaptable cubicle workspaces. The building itself is a seven-story structure with elevators, ensuring convenient access to all floors. This prime location offers unparalleled convenience, situated near the courthouse and within easy walking distance of numerous shops, restaurants, and amenities such as Starbucks. The current lease has two years remaining, with options available to negotiate a longer-term agreement. The property is zoned DB and is a single building with multiple tenants. This is an ideal opportunity for a business seeking a prestigious and well-equipped office space in the heart of Frederick. The address is 30 W Patrick Street, Frederick, MD 21701, at the corner of S Court Street.

    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
    -77.4098
    Latitude
    39.4138
    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
    $8,530
    $0.00
    $0.00
    $460,600
    -
    $248,100
    $245,300
    $493,400

    Comparable in this City

    • Value Estimation by Request
      768 SF

      4 Davis Ave

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    • Value Estimation
      $1,285,000
      7,044 SF

      14 Patrick St

      OFFICE/RESIDENTIAL (MIXED USE)
      14 Patrick St, Frederick, MD 21701-5628
      View Details
    • Value Estimation by Request
      1,248 SF

      415 Patrick St

      OFFICE/RESIDENTIAL (MIXED USE)
      415 Patrick St, Frederick, MD 21701-4857
      View Details
    • Value Estimation
      $2,110,000
      11,704 SF

      16 Patrick St

      OFFICE/RESIDENTIAL (MIXED USE)
      16 Patrick St, Frederick, MD 21701-6134
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    • Value Estimation by Request
      1,080 SF

      605 Patrick St

      OFFICE/RESIDENTIAL (MIXED USE)
      605 Patrick St, Frederick, MD 21701-4027
      View Details
    • Value Estimation
      $1,220,000
      6,770 SF

      10 Market St

      OFFICE/RESIDENTIAL (MIXED USE)
      10 Market St, Frederick, MD 21701-5420
      View Details

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      Frederick Mixed-Use Redevelopment Opportunity

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    Frederick, MD 21701-5628
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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.

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