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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Retail space
509 Market St Frederick, MD 21701-6547
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-0799781
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1881
Total area
2,378 SF
Lot
0.11 ac (4,575 SF)
Zoning code
DB
APN
02-092689
UPID
US40-0799781
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
-
Studio 509 Hair Salon Nail Salon
-
Illuminate Beauty Studio- Kaytlin Garland Hair Salon
-
Studio Anne Hair Salon
-
509 Salon Hair Salon
-
Ashley Martinez Hair Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$400k
Comparable Approach
Comparable
$543k
Blend (final)
Blend
$580k
Owner & transaction history
Esposito Enterprise LLC · 3 yrs held
Esposito Enterprise LLC
since 2023
Last sale
$600,000
3 recorded transactions
Zoning & alternative use
DB · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
DB (Downtown Commercial / Residential) The DB district is intended to encourage the development of the Center City's commercial areas. It allows most office and retail activities as well as high density residential uses. To encourage the implementation of this objective, certain parking requirements are relaxed for development or redevelopment in this distri…
Zone name
Downtown Commercial And Residential
General category
COMMERCIAL
Zone area
207.36 ac
Source
ARTICLE 4 - ZONING
Top alternative use upside
Office building
$860,000
+29.7%
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
$580,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$430,000
6.5%
$400,000
7%
$370,000
Alternative Use
Use
Estimation
RETAIL STORES
$665,000
Current use
OFFICE BUILDING
$860,000
Change: +30% · Conversion: Easy
COMMERCIAL (GENERAL)
$600,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $600k (Jul 7 2023)
Last sale anchor
$600k
Jul 7 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
$244 / 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
$7,206
Tax year 2023
Assessed value
$398,533
Assessed 2023
Previous assessed
$372,800
+6.9% YoY
Effective rate
1.81%
On assessed value
Land market value
$195,600
Improvement market value
$254,400
Total market value
$450,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1881
Heating
RADIANT
Cooling
AC.PACKAGE
Stories
2
Units
1
Bathrooms
1
Total area
2,378 SF
Lot
0.11 ac (4,575 SF)
Zoning code
DB
APN
02-092689
UPID
US40-0799781
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
DB · Frederick, MDZoning DB · permitted uses
DB · Frederick, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
DB (Downtown Commercial / Residential) The DB district is intended to encourage the development of the Center City's commercial areas. It allows most office and retail activities as well as high density residential uses. To encourage the implementation of this objective, certain parking requirements are relaxed for development or redevelopment in this district. District Established Purpose M1 (Light Industrial) The M1 district is intended to provide for offices and those industrial activities which do not require special measures to control odor, dust or noise and which do not involve hazardous materials and whose
Zone name
Downtown Commercial And Residential
General category
COMMERCIAL
Zone area
207.36 ac
Source
ARTICLE 4 - ZONING
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$665,000
OFFICE BUILDING
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$600,000
RETAIL STORES Current
OFFICE BUILDING
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
1881
Heating
RADIANT
Cooling
Yes
Stories
2
Units
1
Bathrooms
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Esposito Enterprise LLC
Entity
Free & Clear · 3 yrs held
Mailing address
10411 WHITEROSE DR, NEW MARKET, MD 21774-6349
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
Jul 7, 2023
$600,000
Esposito Enterprise LLC
James W Swope
Deed
—
Mar 7, 2019
$360,000
James W Swope
Monet LLC
Deed
$288,000 · Frederick County Bank
Mar 20, 2000
—
Monet LLC
Remsberg,colleen
Grant Deed
related
—
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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