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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    70 Thomas Johnson Dr Frederick, MD 21702

    • Office buildings
    • 50,012 SF
    • 3.49 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0701342
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Louis Perraut / Ophthalmologist
    • Morgan Keller Inc / Construction Company / General Contractor
    • Lindsay Bitto / Physician
    • Kaio S. Ferreira, MD / Physician
    • MK Concrete Construction / Construction Company / General Contractor

    Property Details for 70 Thomas Johnson Dr

    Year built
    1999
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.49 lot acres
    Property size
    50,012 SF
    Zone code
    MO
    Property type
    Office buildings
    APN
    02-185849
    APU
    2185849

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,290,000
      6.5%
      $15,035,000
      7%
      $13,960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,754,000
      Market price range: $8.52M - $16.4M
      AI Estimate
      $9,084,000
      Market price range: $5.80M - $14.7M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $13,215,000
      Current use
      RESTAURANT
      $15,645,000
      Change: +18% Conversion: Moderate
      RETAIL STORES
      $13,980,000
      Change: +6% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $13,030,000
      Change: -1% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $12,265,000
      Change: -7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Frederick
    State
    Maryland
    Longitude
    -77.4023
    Latitude
    39.4495
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $143,068
    $1,048,400
    $6,851,600
    $7,900,000
    -
    $1,048,400
    $6,851,600
    $7,900,000

    Comparable in this City

    • Value Estimation
      $8,430,000
      55,250 SF

      92 Thomas Johnson Dr

      OFFICE BUILDING • 55,250 SF
      92 Thomas Johnson Dr, Frederick, MD 21702-4403
      View Details
    • Value Estimation by Request
      837 SF

      6901 Baltimore National Pike

      OFFICE BUILDING • 837 SF
      6901 Baltimore National Pike, Frederick, MD 21702-3610
      View Details
    • Value Estimation
      $3,230,000
      10,500 SF

      7446 Hayward Rd

      OFFICE BUILDING • 10,500 SF
      7446 Hayward Rd, Frederick, MD 21702-3008
      View Details
    • Value Estimation
      $7,545,000
      28,941 SF

      1050 Key Pkwy

      OFFICE BUILDING • 28,941 SF
      1050 Key Pkwy, Frederick, MD 21702-4053
      View Details
    • Value Estimation
      $1,770,000
      2,199 SF

      2070 Yellow Spgs Rd

      OFFICE BUILDING • 2,199 SF
      2070 Yellow Spgs Rd, Frederick, MD 21702-2304
      View Details
    • Value Estimation by Request
      1,224 SF

      7000 Rock Crk Dr

      OFFICE BUILDING • 1,224 SF
      7000 Rock Crk Dr, Frederick, MD 21702-3676
      View Details

    Similar Nearby for Sale

    • $3,250,000

      Freestanding Office/Medical Building For Sale

      10,600 SF office/medical building with parking and natural light.
      195 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • $2,750,000
      12,351 SF

      Baltimore Pike Commercial Complex

      Multi-building retail & warehouse opportunity
      6905 Baltimore National Pike, Frederick, MD 21702
      View Details
    • $3,250,000
      10,600 SF

      Frederick Office/Medical Building For Sale

      10,600 SF office/medical building with onsite parking and natural light.
      195 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • $624,999

      Frederick Medical/Office Condo For Sale

      Professional medical/office condo in Frederick, ideal for owner-occupants or investors.
      100 Tuscanny Dr, Frederick, MD 21702
      View Details
    • Contact for pricing
      654 SF

      Elevatored Office Building on Thomas Johnson

      Three-level condo offices ranging from 654 SF to 7,751 SF.
      57 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • $3,950,000
      20,000 SF

      Free-Standing 2-Story Medical Building For Sale

      Free-Standing 2-Story Medical Building For Sale
      46 B Thomas Johnson Dr, Frederick, MD 21702
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,000 SF

      Governors Place Medical Building Suites

      Class A medical building with flexible, customizable suite sizes.
      112 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • Contact for pricing
      1,497 SF

      Modern Medical/Office Space Available

      New Class A office space with high-speed data.
      161 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • $15 SF/Yr
      5,000 SF

      Frederick Medical Corridor Office Suite

      First floor office suite in Frederick Research Park.
      187 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • $24 SF/Yr
      3,021 SF

      Medical Office Space For Lease

      3,021± SF medical office space in Frederick's medical corridor.
      1475 Taney Ave, Frederick, MD 21702
      View Details
    • $16 SF/Yr

      Thomas Johnson Drive Office Space

      Commercial/Medical office space for lease near Frederick Hospital.
      46 Thomas Johnson Dr, Frederick, MD 21702
      View Details
    • $12 SF/Yr

      Frederick Medical Office Space Available

      6,000 sq ft medical office space in Frederick, MD.
      110 Baughmans Ln, Frederick, MD 21702
      View Details
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    70 Thomas Johnson Dr
    Frederick, MD 21702
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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