MacRo LTD Blog

Downtown Mixed Use Building Sale Statistics

MacRo, Ltd. Real Estate Brokerage Services sells mixed use building in downtown Frederick, Maryland.

MacRo, Ltd. is pleased to announce the sale of an East Patrick Street property to a private individual for investment and personal use.

Property Address: 6 – 8 East Patrick Street, Frederick, Maryland 21701

Lot Size: 6,399 Square Feet

Building Area: 11,000 +/-Square Feet

Legal Description: Map 417, Grid 3, Parcel 85B

Listing Price: $759,000

Sale Price: $650,000

Zoning: DB – Downtown Business

Closing Date: June 8, 2012

This property is a combination of residential and commercial uses, with on-site parking and a loading dock.

There was approximately $80,000 of deferred maintenance that the Purchaser agreed to take responsibility for.

The 6,000 SF first floor has been leased to the Frederick Memorial Hospital Women’s Auxiliary Thrift Shop since 1988. This transaction included the negotiation of a long term lease renewal for this tenant, which was accomplished in January of 2012.

There are two leased residential units on the second and third floor of the building and each are approximately 2,500 square feet in size.

Five parking spaces in the rear of the building are included on the property.

The property was placed on the market in September 2010. There was consistent interest, which yielded an executed contract within fifteen months.

For more information on how MacRo, Ltd. Real Estate Brokerage Services may be able to assist you in the sale or leasing of your commercial or industrial property, contact Rocky Mackintosh at 301-748-5655 or rocky@macroltd.com.