Bought with Bradley Gillis • NAI Coastal
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Key Details
Sold Price $1,100,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID MDWC104772
Sold Date 03/13/20
HOA Y/N N
Year Built 1940
Annual Tax Amount $13,210
Tax Year 2020
Lot Size 1.821 Acres
Acres 1.82
Lot Dimensions 300 x 275
Property Sub-Type Retail
Source BRIGHT
Property Description
Excellent opportunity for investor seeking a shopping center with 2 national tenants (Family Dollar & Rent-A-Center) plus space for future development. 12,094 sf retail and 12,626 sf warehouse. 1.82 acres with great visibility and 300 ft frontage directly on US Route 13 Business with high traffic count. Parking for approx. 100 vehicles. LED monument sign. Gross income $138,900 with projected increase to $176,700 with leasing of warehouse. Dry fire sprinkler system throughout building. Warehouse has ceiling height from 14 ft to 19 ft. Two overhead doors plus entry doors to main parking lot and to rear parking lot. Opportunity Zone tax benefits available. Sale includes 4 separate parcels. Current Cap Rate 6.2% projected to be 8.6% when warehouse is leased up.
Location
State MD
County Wicomico
Area Wicomico Northeast (23-02)
Zoning GC
Interior
Hot Water Electric
Heating Ceiling, Forced Air
Cooling Central A/C
Flooring Concrete, Partially Carpeted, Vinyl
Heat Source Natural Gas
Exterior
Garage Spaces 100.0
Utilities Available Natural Gas Available
Water Access N
Roof Type Built-Up,Asphalt
Accessibility None
Total Parking Spaces 100
Garage N
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 05-005981
Ownership Fee Simple
Special Listing Condition Standard
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