345 W Patrick St - Office/Residential FOR SALE


Frederick, MD 21701
$525,000 USD
240-422-4913
345 W Patrick St, Frederick, MD for Sale
$525,000 USD
Office/Residential - FOR SALE
1/7
null | Request Cap Rate

345 W Patrick St
Frederick, MD 21701


HIGHLIGHTS

  • Can be commercial office space or multi-family.

OVERVIEW

Presenting 345 W Patrick Street, a fully leased, income-generating residential investment offered at $525,000 with strong long-term upside. The property is currently occupied by two tenants, including one with over 10 years of tenancy and another who has recently renewed for an additional year, providing immediate and stable cash flow. Recently remodeled, the property features hardwood floors throughout, an updated bathroom with a newly installed shower, and large-format tile in the kitchen. The kitchen has been upgraded with new cabinetry, enhancing both functionality and appeal. The layout consists of a 1-bedroom unit on the lower level and two additional bedrooms on the upper level, offering flexible use today with potential conversion back to a single-family residence. Additional features include spacious bedrooms measuring approximately 12’ x 15’, an attic for added storage, and an exterior with brick construction beneath the siding, contributing character and durability. Situated on a generous 10,960-square-foot lot, this property offers significant redevelopment or expansion potential (buyer to verify). The private backyard further enhances value, while the location—within walking distance to Baker Park—adds lifestyle and tenant appeal. This is a compelling opportunity for investors seeking steady income today with long-term redevelopment or repositioning potential in the future.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$268 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,960 SF

ZONING

DB

APN/PARCEL ID

02-114593,02-123312

ASK ABOUT THIS PROPERTY

Victoria GerardVictoria V GerardMore Info
240-422-4913

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Victoria GerardVictoria V GerardMore Info
240-422-4913

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.