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5,002 Sqft Lot
$ 199,900
Est. payment | /mo
5,002 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID MDFR2056530
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $3,934
Tax Year 2024
Lot Size 5,002 Sqft
Acres 0.11
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
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
Garage N
Building
Sewer Public Sewer
Water None
Schools
School District Frederick County Public Schools
Others
Tax ID 1102110067
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by David E Wilkinson • MacRo, Ltd.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "