Frederick, MD, was once a small, sleepy town situated on the way towards Western Maryland but now is a prime location for buying or renting commercial property. Frederick now helps to form a powerful business triangle with Baltimore and Washington, DC, once the largest cities for employment in the DMV area. Over the last 20 years, Frederick has increased its business and economy to support over 3,500 professional offices and employers. There are hundreds of reasons why Frederick, MD, is a trendy place to locate your commercial property, but here are just a small few to convince you the investment is worth it.
The Economy is Booming
Despite economic setbacks due to COVID-19, Frederick, MD, continues to see a rise in commercial property value. One very important aspect of any economy is how many people live in an area. In 2017, Frederick surpassed 70,000 residents for the first time in its history, and many of those new migrants were young professionals aged 25-34. This was an incredibly high turnout, even higher than the historic employment sector of the Washington-Metro Area. The reason for this? Apartments and residential housing rent prices are usually much lower than city dwellings, or they save time or financial cost on commute. There are thousands of intelligent young professionals waiting for the careers of their dreams; why not bring your commercial property to them?
Well-Connected Place to Be
As mentioned earlier, Frederick, MD is in close proximity to both Baltimore City and Washington, DC, two major industrial cities. Additionally, Frederick’s prime location is connected via major interstate roads like I-70, and the MARC train has several stations around the area that link to the popular Downtown Frederick destination. In addition, there is also the Frederick Municipal Airport, which is a continuously growing terminal that is now the second-largest airport in the state of Maryland. Frederick, MD, also has a lot of room to grow. It’s relatively spaced out and large, and there is ample room to build large commercial property with business parks, office buildings, etc. With this trend, more and more investors are building brand-new, state-of-the-art properties around the Frederick area.
Pro-Growth Leadership and Government
While many surrounding cities deal with confusing and convoluted tax laws, Frederick’s government is working hard to prevent unnecessary taxes on commercial property. In fact, non-manufacturing personal business property is now 70% exempt from tax, and manufacturing property is 82% exempt. This will continue into 2025, according to the city’s Department of Economic Development.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.