500 Patrick StFrederick, MD 21701

Property Details for 500 Patrick St

Year built

1961

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.95 AC

Property size (Sq ft)

7,880 SF

Zone code

DB

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

02-135132

APU

2135132

Description

This exceptional retail pad site, located at 500 W Patrick St, Frederick, MD 21701, presents a rare opportunity for businesses seeking high visibility and a thriving location. Zoned Downtown Business (DB), this single-tenancy pad site is ideal for retail or restaurant use. The property boasts unparalleled access to the vibrant heart of Downtown Frederick, a bustling area known for its unique boutiques, diverse dining options, and rich cultural experiences. Its proximity to scenic parks, including the Carroll Creek Promenade, offers a desirable work-life balance. Furthermore, the site benefits from its close proximity to key attractions such as the Delaplaine Arts Center, the National Museum of Civil War Medicine, and the Frederick Fairgrounds, ensuring high foot traffic and exposure. Frederick's significant growth over the past decade, ranking among the highest in the Washington, DC MSA, makes this an exceptional investment opportunity in a rapidly expanding market. The cross street is W South Street. This property offers an unparalleled chance to establish a successful business within a dynamic and amenity-rich environment. The site's strategic location and zoning make it perfectly suited for a variety of retail or restaurant concepts.

• CAP approach

  CAP return

  Valuation

  6%

  $1,875,521

  6.5%

  $1,731,250

  7%

  $1,607,589

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,575,527

  Geo Method

  $1,575,527

• Alternative Use

  Use

  Valuation

  Residential

  $2,146,750

  Hospitality

  $1,966,411

  Educational

  $1,636,031

  Medical

  $1,692,297

  Retail

  $2,544,938

Location Insight

City

Frederick

County

Frederick

State

Maryland

Latitude

39.413

Longitude

-77.4254

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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