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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Investment properties
425 Patrick St Frederick, MD 21701-5729
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-1142863
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1940
Construction
BRICK
Total area
2,512 SF
Lot
0.15 ac (6,472 SF)
Zoning code
M1
APN
02-138522
UPID
US40-1142863
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
-
Frederick Chiropractic Wellness Center Alternative Medicine Practice
-
Dr. Deborah Morrone Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$845k
Blend (final)
Blend
$950k
Owner & transaction history
Wells Recovery INC · 3 yrs held
Wells Recovery INC
since 2023
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
M1 · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$910,000
+43.9%
Retail stores
$700,000
+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
$1,010,000
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)
$635,000
Current use
OFFICE BUILDING
$910,000
Change: +44% · Conversion: Easy
RETAIL STORES
$700,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $1.05M (Apr 26 2023)
Last sale anchor
$1.05M
Apr 26 2023
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
$378 / 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
$125
Tax year 2023
Assessed value
$916,667
Assessed 2023
Previous assessed
$814,600
+12.5% YoY
Effective rate
0.01%
On assessed value
Land market value
$185,300
Improvement market value
$935,500
Total market value
$1,120,800
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
1940
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
2,512 SF
Lot
0.15 ac (6,472 SF)
Zoning code
M1
APN
02-138522
UPID
US40-1142863
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
COMMERCIAL (GENERAL) Current
Est. value
$635,000
OFFICE BUILDING
Est. value
$910,000
RETAIL STORES
Est. value
$700,000
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
1940
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Wells Recovery INC
Entity
Free & Clear · 3 yrs held
Mailing address
221 E BALTIMORE ST, HAGERSTOWN, MD 21740-6109
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2023
—
Wells Recovery INC
Wells House INC
Intrafamily Transfer
related
—
May 26, 2016
$1,050,000
Wells House INC
Hoover Properties LLC
Grant Deed
$945,000 · Private Individual
Mar 3, 2003
—
Hoover Properties LLC
Armstrong,tr
Grant Deed
related
$300,000 · Fredericktown Bank & Trust Co
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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