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Property profile & analytics
OFF-MARKET
Estimated value
$1,345,000
Retail space
4334 Old National Pike, Middletown, MD 21769-7631
Entity Owned
~
Est. High Equity
Property ID
US40-1801212
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2022
Total area
5,920 SF
Lot
7.49 ac (326,264 SF)
Zoning code
GC
APN
03-126706
UPID
US40-1801212
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
$990k
Comparable Approach
Comparable
$1.11M
Blend (final)
Blend
$1.35M
Owner & transaction history
Antietam Ridge LLC
Antietam Ridge LLC
since 2026
Last sale
$1.5M
6 recorded transactions
Zoning & alternative use
GC · Middletown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+42.2%
Restaurant
$1.9M
+40.2%
Industrial (general)
$1.4M
+4.5%
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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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
$1,375,000
ML approach
$1,240,000
CAP Approach
CAP Return
Estimation
6%
$1,075,000
6.5%
$990,000
7%
$920,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,320,000
Current use
OFFICE BUILDING
$1,875,000
Change: +42% · Conversion: Easy
RESTAURANT
$1,850,000
Change: +40% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,380,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,305,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$1.35M
Range $1.21M – $1.48M · ±10% · vs last sale $1.50M (Apr 5 2022)
Last sale anchor
$1.50M
Apr 5 2022
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
$227 / 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
$19,061
Tax year 2023
Assessed value
$1,594,400
Assessed 2023
Previous assessed
$611,700
+160.7% YoY
Effective rate
1.20%
On assessed value
Assessed land
$611,700
Assessed improvement
$982,700
Land market value
$611,700
Improvement market value
$982,700
Total market value
$1,594,400
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2022
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
5,920 SF
Lot
7.49 ac (326,264 SF)
Zoning code
GC
APN
03-126706
UPID
US40-1801212
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
GC · Middletown, MD
Zoning GC · permitted uses
GC · Middletown, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.9M
RESTAURANT
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
2022
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
7.49 ac
Current owner
From public records · entity-resolved
Antietam Ridge LLC
Entity
Mailing address
4035 TREGO RD, KEEDYSVILLE, MD 21756-1641
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2026
—
Antietam Ridge LLC
Antietam Ridge LLC
Deed
related
—
Jun 22, 2022
—
Antietam Ridge LLC
—
Deed
related
$1,800,200 · Bank Of Clarke County
Apr 5, 2022
$1,500,000
Antietam Ridge LLC
Hollow Road Investment LLC
Deed
$815,000 · Bank Of Clarke County
Apr 11, 2007
$875,000
Hollow Road Investment LLC
L Polk & Associates LLC
Grant Deed
—
Aug 30, 2004
$549,900
L Polk & Associates LLC
Klimkiewicz Donald F Trust
Grant Deed
—
—
—
L Polk & Associates LLC
—
Deed Of Trust
related
$357,435 · Hagerstown 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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