301 Patrick StFrederick, MD 21701

Property Details for 301 Patrick St

Year built

1847

Construction

BRICK

Lot size

0.13 AC

Property size (Sq ft)

3,390 SF

Zone code

DB

Property type

Office buildings

APN

02-021498

APU

2021498

Description

This exceptional mixed-use property, located at 301 Patrick Street West in Frederick, Maryland's historic district, presents a unique investment opportunity. Boasting approximately 2,488 square feet on a 0.03-acre lot, this building offers unparalleled versatility. The main level is ideally suited for retail use, featuring a spacious area, a dedicated office, reception space, and a conference room. The upper level provides significant flexibility, easily adaptable as a residential apartment, owner's quarters, or additional office space. A full kitchen and restroom are included. Abundant natural light streams in through large windows, creating a bright and inviting atmosphere. The property is zoned DB, permitting office, retail, and residential uses, maximizing its potential. Its prime corner location places it within easy walking distance of downtown Frederick's vibrant attractions, diverse dining options, and shopping destinations. This high-visibility location ensures significant foot traffic and exposure, making it an exceptional opportunity for a savvy investor seeking a blend of commercial and residential potential. The asking price is $575,000.

• CAP approach

  CAP return

  Valuation

  6%

  $914,435

  6.5%

  $844,094

  7%

  $783,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $677,797

  Geo Method

  $677,797

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,632,390

  Retail / Commercial

  $842,843

  Mixed-Use / Specialty

  $844,380

  Hospitality / Lodging

  $625,408

  Institutional / Educational

  $879,438

  Residential Income

  $1,028,940

  Multifamily

  $1,208,880

  Automotive / Energy

  $753,804

  Parking / Income-Based Land

  $255,641

  Restaurant / Food Service

  $448,862

  Healthcare / Senior Housing

  $861,238

Location Insight

City

Frederick

County

Frederick

State

Maryland

Latitude

39.414

Longitude

-77.4052

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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