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Property profile & analytics
OFF-MARKET
Estimated value
$16,000,000
Life science properties
550 Highland St Frederick, MD 21701-5756
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0463768
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1974
Construction
BRICK
Total area
167,609 SF
Lot
27.95 ac (1,217,502 SF)
Zoning code
M1
APN
02-031167
UPID
US40-0463768
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
-
Canapes Catering Take-out & Catering Catering Service
-
QA Benchmark (Bike/Boat/Book/etc) Store Corporate Office
-
LAW OFFICES OF VICTOR E. CRETELLA Law Firm
-
HRSI Training Center
-
Straightline Direct Marketing Llc (Bike/Boat/Book/etc) Store Printing 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
$16.00M
Owner & transaction history
550 Highland Owner LLC · 4 yrs held
550 Highland Owner LLC
since 2022
Last sale
$16.0M
7 recorded transactions
Zoning & alternative use
M1 · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$14,685,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$23,105,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$19,080,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$18,745,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$16.00M
Range $14.40M – $17.60M · ±10% · vs last sale $16.00M (May 24 2022)
Last sale anchor
$16.00M
May 24 2022
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
$95 / 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
$216,991
Tax year 2023
Assessed value
$11,423,833
Assessed 2023
Previous assessed
$9,517,800
+20.0% YoY
Effective rate
1.90%
On assessed value
Land market value
$8,483,300
Improvement market value
$6,752,600
Total market value
$15,235,900
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1974
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
167,609 SF
Lot
27.95 ac (1,217,502 SF)
Zoning code
M1
APN
02-031167
UPID
US40-0463768
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
M1 · Frederick, MD
Zoning M1 · permitted uses
M1 · 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
AUTO REPAIR, GARAGE
Est. value
$23.1M
INDUSTRIAL (GENERAL)
Est. value
$19.1M
WAREHOUSE, STORAGE
Est. value
$18.7M
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1974
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
27.95 ac
Current owner
From public records · entity-resolved
550 Highland Owner LLC
Entity
Mailing address
2201 WISCONSIN AVE NW STE #200, WASHINGTON, DC 20007-4100
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2025
—
550 Highland Owner LLC
—
Deed
related
$53,000,000 · Corebridge Institutional Investments LLC
May 24, 2024
—
550 Highland Owner LLC
—
Deed
related
$850,000 · John Marshall Bank
May 24, 2022
$16,000,000
550 Highland Owner LLC
Envision Highland LLC
Limited Warranty Deed
$11,200,000 · John Marshall Bank
Oct 19, 2015
$16,000,000
Envision Highland LLC
Rockwell Holdings LLC
Grant Deed
$12,000,000 · Bank Of America
Dec 13, 2002
$6,700,000
Rockwell Holdings LLC
Airpax Corp LLC
Grant Deed
related
$6,000,000 · Farmers & Mechanics Bank
Apr 12, 2001
$1,350,000
Frederick City (md)
Airpax Corp LLC
Grant Deed
—
Feb 19, 1999
$7,000,000
Airpax Acquisition LLC
Airpax Corp
Grant Deed
related
$55,000,000 · Wells Fargo Bank
—
—
Rockwell Holdings LLC
—
Deed Of Trust
related
$7,700,000 · Susquehanna Bank
—
—
Rockwell Holdings LLC
—
Deed Of Trust
related
$7,700,000 · Sandy Spring 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.
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