Residential Land for Sale in Frederick, Maryland

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