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Property profile & analytics
OFF-MARKET
Estimated value
$53,075,000
Warehouses
7101 Geoffrey Way, Frederick, MD 21704-7112
Entity Owned
5-yr Hold
Free & Clear
Property ID
US40-0078229
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
BRICK
Total area
459,536 SF
Lot
65.48 ac (2,852,309 SF)
Zoning code
LI
APN
01-026941
UPID
US40-0078229
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
-
Carter Lumber Company Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$66.32M
Comparable Approach
Comparable
$43.55M
Blend (final)
Blend
$53.08M
Owner & transaction history
Spirit Realty LP · 5 yrs held
Spirit Realty LP
since 2021
Last sale
$52.5M
3 recorded transactions
Zoning & alternative use
LI · Frederick, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$72.7M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$71,845,000
6.5%
$66,315,000
7%
$61,580,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$63,965,000
Current use
AUTO REPAIR, GARAGE
$72,665,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$53.08M
Range $47.77M – $58.38M · ±10% · vs last sale $52.46M (Jun 17 2021)
Last sale anchor
$52.46M
Jun 17 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
$115 / 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
$552,736
Tax year 2023
Assessed value
$44,708,733
Assessed 2023
Previous assessed
$39,057,267
+14.5% YoY
Effective rate
1.24%
On assessed value
Land market value
$4,747,100
Improvement market value
$45,613,100
Total market value
$50,360,200
Applied tax rate
1.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Total area
459,536 SF
Lot
65.48 ac (2,852,309 SF)
Zoning code
LI
APN
01-026941
UPID
US40-0078229
Jurisdiction
FREDERICK
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
LI · Frederick, MD
Zoning LI · permitted uses
LI · 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
$64.0M
AUTO REPAIR, GARAGE
Est. value
$72.7M
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
1996
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Lot
65.48 ac
Current owner
From public records · entity-resolved
Spirit Realty LP
Entity
Free & Clear · 5 yrs held
Mailing address
2727 N HARWOOD ST STE #300, DALLAS, TX 75201-2407
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2021
$52,457,910
Spirit Realty LP
Bip Frederick LLC
Special Warranty Deed
—
Jan 23, 2018
$38,000,000
Bip Frederick LLC
Abp Md Baltimore LLC
Special Warranty Deed
$71,500,000 · Citi Real Estate Funidng INC
May 27, 2004
$10,042,862
Abp Md Baltimore LLC
Georgia-pacific Corp
Grant Deed
$100,000,000 · Abpmc LLC
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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