Individually Owned Property summary
AI-generated overview
The property contains approximately 7,844 square feet of professional office space configured for lease. It is located on Thomas Johnson Drive in Frederick along an established office corridor, with access to major transportation routes including RT 15, I-70, and I-270, and proximity to Fort Detrick and the Frederick Health Campus as well as nearby retail and dining. The interior configuration supports use by a range of professional and service-oriented tenants, including medical, legal, technology, financial, and government contractor users. The landlord occupies office space on the second floor of the building.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
50,012 SF
Lot
3.49 ac (151,944 SF)
Zoning code
MO
APN
02-185849
UPID
US40-0701342
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ophthalmologist
-
Construction Company General Contractor
-
Physician
-
Physician
-
Construction Company General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.04M
Comparable Approach
Comparable
$11.75M
Blend (final)
Blend
$11.96M
Owner & transaction history
since 1999
6 recorded transactions
Zoning & alternative use
MO · Frederick, MD
Zoning description
MO (Manufacturing/ Office) The M/O district is intended to provide a park-like setting for a community of industries, having no nuisance factors as a means of protecting investments within the district, and reducing the…
General category
INDUSTRIAL
Top alternative use upside
Restaurant
$15.6M
+18.4%
Retail stores
$14.0M
+5.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$11.96M
Value range
$10.76M – $13.16M
±10% around blend
Estimated value / SF
$239 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$10.76M
blend $11.96M
$13.16M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
50,012 SF
Lot area
3.49 ac
Year built
1999
Stories
2
APN
02-185849
Zoning
MO
Assessed value
$7,900,000
Annual tax
$143,068
3
Income approach: direct capitalization
Partial preview
Income approach indication
$15.04M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$16.29M
@ 6.5% CAP return
$15.04M
@ 7% CAP return
$13.96M
4
Sales comparison
Partial preview
Sales approach indication
$11.75M
Range $8.52M – $16.42M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$11.96M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 33 sales
$264
-10%
Submarket 172 sales
$341
-30%
County 185 sales
$317
-25%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $239/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+18%
vs current-use indication
Retail Stores
Office Building · current use
Commercial (general)
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.90M
Move the market yield to see immediate price impact.
Value / SF
$158
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$498k
$9.95M
$7.11M
$5.53M
$553k
$11.06M
$7.90M
$6.14M
$608k
$12.17M
$8.69M
$6.76M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$143,068
Tax year 2023
Assessed value
$7,900,000
Assessed 2023
Previous assessed
$8,217,200
-3.9% YoY
Effective rate
1.81%
On assessed value
Assessed land
$1,048,400
Assessed improvement
$6,851,600
Land market value
$1,048,400
Improvement market value
$6,851,600
Total market value
$7,900,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
50,012 SF
Lot
3.49 ac (151,944 SF)
Zoning code
MO
APN
02-185849
UPID
US40-0701342
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
MO · Frederick, MDZoning MO · permitted uses
MO · Frederick, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
MO (Manufacturing/ Office) The M/O district is intended to provide a park-like setting for a community of industries, having no nuisance factors as a means of protecting investments within the district, and reducing the…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Lot
3.49 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MO
INDUSTRIAL
Jurisdiction
Frederick, MD
Recorded code
MO
Official district
MO
Official district profile
What the municipal code says about MO
Zoning description
MO (Manufacturing/ Office) The M/O district is intended to provide a park-like setting for a community of industries, having no nuisance factors as a means of protecting investments within the district, and reducing the…
General category
INDUSTRIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MO in Frederick, MD.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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