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Property profile & analytics
FOR LEASE
Distribution centers
605 E Church St, Frederick, MD 21701
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1648926
For Lease
1 / 2
$10 SF/Yr
605 E Church St, Frederick, MD 21701
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1964
Construction
BRICK
Total area
41,919 SF
Lot
4.79 ac (208,652 SF)
Zoning code
MU1
APN
02-217376
UPID
US40-1648926
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
-
Matthew Adams Physician
-
Amy Gentry Physician
-
Unrivaled Iron Gym Gym & Fitness Center
-
Heartland Home Foods, Inc. (Bike/Boat/Book/etc) Store Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.05M
Comparable Approach
Comparable
$4.25M
Blend (final)
Blend
$5.04M
Owner & transaction history
J&j Real Estate Md LLC · 4 yrs held
J&j Real Estate Md LLC
since 2021
Last sale
$4.8M
4 recorded transactions
Zoning & alternative use
MU1 · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.6M
+13.6%
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
$6,990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,555,000
6.5%
$6,050,000
7%
$5,615,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,835,000
Current use
AUTO REPAIR, GARAGE
$6,630,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$5.04M
Range $4.53M – $5.54M · ±10% · vs last sale $4.75M (Sep 8 2021)
Last sale anchor
$4.75M
Sep 8 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
$120 / 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
$69,884
Tax year 2023
Assessed value
$3,713,600
Assessed 2023
Previous assessed
$2,162,900
+71.7% YoY
Effective rate
1.88%
On assessed value
Land market value
$523,800
Improvement market value
$6,291,200
Total market value
$6,815,000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1964
Construction
BRICK
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
41,919 SF
Lot
4.79 ac (208,652 SF)
Zoning code
MU1
APN
02-217376
UPID
US40-1648926
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
MU1 · Frederick, MD
Zoning MU1 · permitted uses
MU1 · 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
WAREHOUSE, STORAGE Current
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$6.6M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
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
1964
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
4.79 ac
Current owner
From public records · entity-resolved
J&j Real Estate Md LLC
Entity
Mailing address
13691 OLD ROVER RD, WEST FRIENDSHIP, MD 21794-9726
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2021
$4,750,000
J&j Real Estate Md LLC
Fpc East Church LLC
Deed
$4,080,000 · Sandy Spring Bank
Aug 21, 2020
$7,200,000
Frederick Mem Hosp INC
Frederick Health Hospital INC
Grant Deed
—
Aug 21, 2020
—
Fpc East Church LLC
—
Deed
related
$4,680,000 · Presidential Bk
—
—
Fpc East Church LLC
—
Deed Of Trust
related
$4,680,000 · Presidential Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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