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    9091 Ocean Highway

    DELMAR, MD 21875
    • $525,000
    • STATUS: Active
    • ON SITE: 33 Days
    • ID#: MDWC2001640
    UPDATED: 110 min ago
    $525,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1955
    County:

    School Ratings & Info

    Description

    1.7 acres located just outside of Salisbury on Rt.13 in Delmar, MD. The property is currently being used as a small apartment complex and is producing income, but could be used for commercial development. Features that make this deal attractive: Direct access off of Rt.13. 500 Feet of Highway Frontage. Utilities are located on site. Stable tenants with short term leases provide immediate income and flexibility. Income can be used for carrying cost, while new owner works on future development plans. Current NOI: $44,714. Projected NOI for March 2022 - $53,714

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    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Allison Stine Team with Northrop Realty a Long and Foster Company. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-26T12:52:58.347.
    www.allisonstineteam.com/homes/121680132
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    9091 Ocean Highway DELMAR, MD 21875

    • Price: $525,000
    • Status: Active
    • Updated: 110 min ago
    • ID#: MDWC2001640
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1955
    Built
    Neighborhood:
    None Available
    County:
    Wicomico
    Area:
    Wicomico Northeast (23-02)
    School District:
    Wicomico County Public Schools
    Property Description
    1.7 acres located just outside of Salisbury on Rt.13 in Delmar, MD. The property is currently being used as a small apartment complex and is producing income, but could be used for commercial development. Features that make this deal attractive: Direct access off of Rt.13. 500 Feet of Highway Frontage. Utilities are located on site. Stable tenants with short term leases provide immediate income and flexibility. Income can be used for carrying cost, while new owner works on future development plans. Current NOI: $44,714. Projected NOI for March 2022 - $53,714
    Exterior Features

    Construction Materials Vinyl Siding Garage YN No Lot Features Cleared Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 2466.00 Cooling Heat Pump(S) Heating Central Heating YN Yes Net Square Feet 2466.00

    Property Features

    Accessibility Features None Association YN No Business Type Apartment Building Central Air YN No Cooling Fuel None Foundation Details Slab Heating Fuel None Hot Water Electric Municipality Delmar Navigable Water YN N Net Operating Income 44714.00 New Construction YN No Original MLSNumber 801072614132 Ownership Interest Other Possession Immediate Property Sub Type Five Or More Units Sale Type Standard Sewer Public Septic Tax Annual Amount 1892.00 Tax Assessment Amount 258700.00 Tenant Pays Utilities - All Vacation Rental YN No Water Source None Zoning C Zoning Description Commercial/Multi-Family

    Listing courtesy of Rinnier Development Co.


    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Allison Stine Team with Northrop Realty a Long and Foster Company. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-26T12:52:58.347.
     
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    The Allison Stine Team with Northrop Realty a Long and Foster Company
    209 5th Street
    Bethany Beach DE, 19930