100 FOURTH-THRU 102 ST Under Contract Save Request In-Person Tour Request Virtual Tour
Frederick,MD 21701
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID MDFR2056530
Annual Tax Amount $3,934
Tax Year 2024
Lot Size 5,002 Sqft
Property Description
Investor alert - unimproved lot with Downtown Residential zoning in the City of Frederick. Property is currently being used as a parking lot with 17 parking spaces. Conservative pro-forma NOI is $11+k which yields a cap rate exceeding 5.5% cap rate if self managed.
Property could be developed for residential use. Located in the Historic Preservation District which is red hot - easy walk to a wide variety of restaurants, boutique shops, breweries and visual & performing art centers. Baker Park and the Talley Recreational Center are each 1/4 mile away; Hood College and the Frederick Memorial Hospital are less than 1/2 mile away.
Seller has applied to the City of Frederick to register the parking lot as a legal non-conforming use in the Downtown Residential zone
Location
State MD
County Frederick
Zoning DR
Exterior
Water Access N
Building
Sewer Public Sewer
Water None
Schools
School District Frederick County Public Schools
Others
Special Listing Condition Standard