Exceptional investment opportunity in the heart of Downtown Frederick! This fully leased commercial property is currently operating as a daycare with a 3-year lease in place through March 2029. Annual rental income increases from $109, 800 in Year 1 to $126, 000 in Year 3. Estimated Year 1 NOI is $90, 800, offering a solid 7.26% cap rate and projected 3-year average cap rate of 7.95%. The tenant pays all utilities and exterior maintenance, with the owner only covering taxes and building insurance (~$19, 000/year). Over $300K in recent renovations, including a permitted addition, have been completed. While currently set up for childcare use, the layout also supports future office or professional service tenancy. Strong cash flow today with long-term rental upside and use flexibility tomorrow.