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Property profile & analytics
FOR LEASE
Industrial properties
5123 Pegasus Ct Frederick, MD 21704
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1495866
For Lease
1 / 2
$22,810,000
5123 Pegasus Ct, Frederick, MD 21704
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
69,240 SF
Lot
14.28 ac (622,037 SF)
Zoning code
LI
APN
28-584482
UPID
US40-1495866
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
-
Radiology Associates-Frederick Medical Laboratory
-
Smart Building Technologies - A Fidelity Company General Contractor Construction Company
-
Fornetix Corporate Office
-
HVAC Concepts - A Fidelity Company HVAC Service General Contractor
-
NIC4 (Knight Sky LLC) Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.81M
Owner & transaction history
Standard Insurance Company · 3 yrs held
Standard Insurance Company
since 2023
2 recorded transactions
Zoning & alternative use
LI · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$21.7M
+27.6%
Retail stores
$19.4M
+14.0%
Commercial (general)
$18.0M
+6.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$16,980,000
Current use
RESTAURANT
$21,660,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$19,355,000
Change: +14% · Conversion: Moderate
COMMERCIAL (GENERAL)
$18,040,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$16,340,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$22.81M
Range $20.53M – $25.09M · ±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
$329 / 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
$183,377
Tax year 2023
Assessed value
$15,427,900
Assessed 2023
Previous assessed
$14,821,400
+4.1% YoY
Effective rate
1.19%
On assessed value
Land market value
$2,241,700
Improvement market value
$13,792,700
Total market value
$16,034,400
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
For Lease
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Units
2
Total area
69,240 SF
Lot
14.28 ac (622,037 SF)
Zoning code
LI
APN
28-584482
UPID
US40-1495866
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
INDUSTRIAL (GENERAL) Current
Est. value
$17.0M
RESTAURANT
Est. value
$21.7M
RETAIL STORES
Est. value
$19.4M
COMMERCIAL (GENERAL)
Est. value
$18.0M
OFFICE BUILDING
Est. value
$16.3M
INDUSTRIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
14.28 ac
Current owner
From public records · entity-resolved
Standard Insurance Company
Entity
Mailing address
10265 NE TANASBOURNE DR, HILLSBORO, OR 97124-7834
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2023
—
Standard Insurance Company
Liberty Lot 4d LLC
Assignment Of Lease (leasehold Sale)
$14,200,000 · Standard Insurance Co
—
—
Liberty Lot 4d LLC
—
Deed Of Trust
related
$11,000,000 · Branch Banking & 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.
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?”
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