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Property profile & analytics
FOR LEASE
Industrial properties
5310 Spectrum Dr Frederick, MD 21703
Entity Owned
10-yr Hold
Free & Clear
Property ID
US40-1369576
For Lease
1 / 2
$33 SF/Yr
5310 Spectrum Dr, Frederick, MD 21703
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,600 SF
Lot
8.28 ac (360,677 SF)
Zoning code
LI
APN
28-551630
UPID
US40-1369576
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
-
Telegia Communications, Inc. Corporate Office
-
Mission Autism CLinics Medical Clinic
-
The Verdant Companies Real Estate Agency
-
Maryland Department of Assessments and Taxation (Frederick County) Tax Department State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.04M
Owner & transaction history
270 Tech Park LLC · 10 yrs held
270 Tech Park LLC
since 2016
6 recorded transactions
Zoning & alternative use
LI · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.3M
+86.1%
Restaurant
$3.6M
+27.6%
Retail stores
$3.2M
+14.0%
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)
$2,845,000
Current use
OFFICE BUILDING
$5,290,000
Change: +86% · Conversion: Difficult
RESTAURANT
$3,630,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$3,245,000
Change: +14% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,020,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$4.04M
Range $3.64M – $4.44M · ±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
$348 / 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
$117,978
Tax year 2023
Assessed value
$9,912,267
Assessed 2023
Previous assessed
$9,108,633
+8.8% YoY
Effective rate
1.19%
On assessed value
Land market value
$2,524,700
Improvement market value
$8,191,200
Total market value
$10,715,900
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
3
Total area
11,600 SF
Lot
8.28 ac (360,677 SF)
Zoning code
LI
APN
28-551630
UPID
US40-1369576
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
$2.8M
OFFICE BUILDING
Est. value
$5.3M
RESTAURANT
Est. value
$3.6M
RETAIL STORES
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$3.0M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
8.28 ac
Current owner
From public records · entity-resolved
270 Tech Park LLC
Entity
Free & Clear · 10 yrs held
Mailing address
12 W CHURCH ST #120, FREDERICK, MD 21701-6785
Ownership since
2016
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, 2021
—
270 Tech Park LLC
—
Deed
related
$33,000,000 · Voya Investment Management LLC
Oct 29, 2018
—
Glades Llce
—
Deed
related
—
Jul 21, 2016
$12,950,000
270 Tech Park LLC
Ap Adler 270 Tech LLC
Deed
—
Sep 13, 2011
$11,618,872
Ap Adler 270 Tech LLC
Morf III Associates LP
Grant Deed
—
Nov 3, 2000
$1,805,000
M O R F III Associates LP
New England Life Pension
Grant Deed
$12,525,000 · Morgan Guaranty Trust Co Ny
—
—
Glades Llce
—
Deed Of Trust
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.
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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