New search
Property profile & analytics
FOR LEASE
Warehouses
4845 Governors Way, Frederick, MD 21704
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US40-1170126
For Lease
1 / 2
$16 SF/Yr
4845 Governors Way, Frederick, MD 21704
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,626 SF
Lot
5.46 ac (237,838 SF)
Zoning code
LI
APN
28-564074
UPID
US40-1170126
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
-
Dynamic Rugs Inc Big Box & Wholesale Store
-
BaneBio Production Facility
-
RSI Industrial Manufacturer Production Facility
-
Dunbar Armored Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.57M
Comparable Approach
Comparable
$4.59M
Blend (final)
Blend
$4.23M
Owner & transaction history
Dynamic Investments LLC · 21 yrs held
Dynamic Investments LLC
since 2005
3 recorded transactions
Zoning & alternative use
LI · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.0M
+13.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,945,000
6.5%
$4,565,000
7%
$4,240,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,400,000
Current use
AUTO REPAIR, GARAGE
$5,000,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$4.23M
Range $3.80M – $4.65M · ±10%
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
$134 / 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
$92,515
Tax year 2023
Assessed value
$7,750,400
Assessed 2023
Previous assessed
$7,750,400
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,308,100
Assessed improvement
$6,442,300
Land market value
$1,308,100
Improvement market value
$6,442,300
Total market value
$7,750,400
Applied tax rate
28.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
31,626 SF
Lot
5.46 ac (237,838 SF)
Zoning code
LI
APN
28-564074
UPID
US40-1170126
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
LI · Frederick, MD
Zoning LI · permitted uses
LI · 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
WAREHOUSE, STORAGE Current
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$5.0M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Units
2
Lot
5.46 ac
Current owner
From public records · entity-resolved
Dynamic Investments LLC
Entity
Mailing address
12803 GLN RD, NORTH POTOMAC, MD 20878-8847
Ownership since
2005
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
May 31, 2005
$7,325,000
Dynamic Investments LLC
Fr Maryland I LLC
Grant Deed
$6,160,000 · Key Bank & Trust
Jun 25, 1998
—
Fr Maryland I LLC
Omega Project III LP
Grant Deed
related
—
—
—
Dynamic Investments LLC
—
Deed Of Trust
related
$5,500,000 · Cibc
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
