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Property profile & analytics
OFF-MARKET
Estimated value
$2,310,000
Community centers
5201 Buckeystown Pike Frederick, MD 21704-7535
Entity Owned
4-yr Hold
Free & Clear
Property ID
US40-0862458
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,409 SF
Lot
22.94 ac (999,266 SF)
Zoning code
ORI
APN
28-543301
UPID
US40-0862458
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
-
Firebirds Wood Fired Grill Restaurant
-
Former Macaroni Grill Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.31M
Owner & transaction history
State Highway Admin Of Md Dept Of T · 4 yrs held
State Highway Admin Of Md Dept Of T
since 2021
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
ORI · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.7M
+190.2%
Office building
$3.7M
+189.1%
Industrial (general)
$2.6M
+103.6%
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
$2,630,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,680,000
Change: +190% · Conversion: Difficult
OFFICE BUILDING
$3,665,000
Change: +189% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,580,000
Change: +104% · Conversion: Difficult
MEDICAL BUILDING
$2,145,000
Change: +69% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,080,000
Change: +64% · Conversion: Difficult
RETAIL STORES
$1,955,000
Change: +54% · Conversion: Easy
Blend value · Realmo final
$2.31M
Range $2.08M – $2.54M · ±10% · vs last sale $1.79M (Sep 9 2021)
Last sale anchor
$1.79M
Sep 9 2021
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
$113 / 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
$364,284
Tax year 2023
Assessed value
$30,749,000
Assessed 2023
Previous assessed
$30,116,733
+2.1% YoY
Effective rate
1.18%
On assessed value
Land market value
$10,399,800
Improvement market value
$20,411,400
Total market value
$30,811,200
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
10
Stories
1
Units
12
Total area
20,409 SF
Lot
22.94 ac (999,266 SF)
Zoning code
ORI
APN
28-543301
UPID
US40-0862458
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
ORI · Frederick, MD
Zoning ORI · permitted uses
ORI · 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
RESTAURANT
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
RESTAURANT
OFFICE BUILDING
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
10
Units
12
Lot
22.94 ac
Current owner
From public records · entity-resolved
State Highway Admin Of Md Dept Of T
Entity
Free & Clear · 4 yrs held
Mailing address
9640 DEERECO RD, TIMONIUM, MD 21093-2120
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2025
—
Frederick Westview Properties LLC
—
Deed
related
$22,000,000 · United Bank
Sep 9, 2021
$1,787,294
State Highway Admin Of Md Dept Of T
Frederick Westview Properties LLC
Deed
—
Oct 11, 2007
—
State Highway Administration Of M
Frederick Westview Properties
Grant Deed
related
—
Mar 30, 1999
$3,750,000
Frederick Westview Properties
Westview Retail LLC
Grant Deed
related
—
—
—
Frederick Westview Props LLC
—
Deed Of Trust
related
$27,000,000 · Sun Life Assurance Co
—
—
International House Of Pancakes
—
Deed Of Trust
related
$429,000 · Chesapeake Business Fin'l Corp
—
—
2010 INC
—
Deed Of Trust
related
$592,500 · Frederick County Bank
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
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