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Property profile & analytics
FOR LEASE
Outlet malls
5600 Urbana Pike, Frederick, MD 21703
Entity Owned
25-yr Hold
~
Est. High Equity
Property ID
US40-1134070
For Lease
1 / 2
$22 SF/Yr
5600 Urbana Pike, Frederick, MD 21703
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,690 SF
Lot
5.09 ac (221,720 SF)
Zoning code
GC
APN
28-540191
UPID
US40-1134070
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
-
Red Wing - Frederick, MD Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store
-
Skin Starts Here Cosmetic Store
-
Brows & Beauty Salon Hair Salon Nail Salon
-
LC Stylez llc Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.48M
Comparable Approach
Comparable
$4.70M
Blend (final)
Blend
$5.41M
Owner & transaction history
355 Frederick LLC · 25 yrs held
355 Frederick LLC
since 2001
5 recorded transactions
Zoning & alternative use
GC · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.4M
+11.9%
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%
$4,845,000
6.5%
$4,475,000
7%
$4,155,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,460,000
Current use
RESTAURANT
$8,350,000
Change: +12% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,955,000
Change: -7% · Conversion: Easy
INDUSTRIAL (GENERAL)
$6,545,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$6,300,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$5.41M
Range $4.86M – $5.95M · ±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
$203 / 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
$118,687
Tax year 2023
Assessed value
$10,037,300
Assessed 2023
Previous assessed
$10,037,300
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$3,547,500
Assessed improvement
$6,489,800
Land market value
$3,547,500
Improvement market value
$6,489,800
Total market value
$10,037,300
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
26,690 SF
Lot
5.09 ac (221,720 SF)
Zoning code
GC
APN
28-540191
UPID
US40-1134070
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
GC · Frederick, MD
Zoning GC · permitted uses
GC · 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
RETAIL STORES Current
Est. value
$7.5M
RESTAURANT
Est. value
$8.4M
COMMERCIAL (GENERAL)
Est. value
$7.0M
INDUSTRIAL (GENERAL)
Est. value
$6.5M
OFFICE BUILDING
Est. value
$6.3M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
INDUSTRIAL (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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
5.09 ac
Current owner
From public records · entity-resolved
355 Frederick LLC
Entity
Mailing address
2800 QUARRY LK DR STE #340, BALTIMORE, MD 21209-3764
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2018
—
355 Frederick LLC
—
Deed
related
$7,350,000 · Miscellaneous Ins Co
Mar 5, 2001
$2,450,000
355 Frederick LLC
Lowes Home Centers INC
Grant Deed
$7,100,000 · Farmers & Mechanics Nat'l Bank
—
—
355 Frederick LLC
—
Deed Of Trust
related
$7,250,000 · General Electric Capital Corp
—
—
355 Frederick LLC
—
Deed Of Trust
related
$6,700,000 · American Equity Inv Life Ins
—
—
355 Frederick LLC
—
Deed Of Trust
related
$7,350,000 · Miscellaneous Ins 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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