Industrial Land with Shop
For Sale
$238,500
108 N Main St, Union Bridge, MD 21791
Developable lot in Union Bridge includes a shop garage with multiple oversized doors and 10–12-foot ceilings.
Property Size2,600 SF
Lot Size0.41 Acres
Price / SF$91.73
Days on Market104
Property Features for 108 N Main St
General Information
Standard status
Active
Size
2,600 SF
Lot size
0.41 Acres
Property subtype
Land
Zoning
R-10000
Additional Details
Utilities to Site
Yes
Clear Height
12 ft
Taxes and HOA fees
Annual Taxes
$1,106
Listing Agency:
RE/MAX Advantage Realty
Listed By:
Stanley E Groves · License #528689
(410) 751-7777
Source:
Evrealestate
Added: Jun 4
Changed: Sep 13
Last Checked: Sep 15 at 5:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Advantage Realty
Investment Insights
Based on property information with market context.
The property is a 0.413-acre industrial land parcel that includes a 2,600-square-foot shop garage. The garage is built with 10- to 12-foot ceilings and features multiple oversized overhead doors, including 12’ x 12’, 10’ x 10’, and 8’ x 8’, making it well-suited for vehicle and equipment storage, light industrial work, or contractor staging. Water and sewer taps are already installed on-site, which can reduce time and upfront development steps for new improvements.
The site is located at 108 N Main St in Union Bridge, Maryland. Based on walk and bike scores reported for the area, it is car-dependent, supporting the site’s practical fit for users who need straightforward access for vehicles and materials.
For buyers, this is a workable combination of land and an existing shop footprint, offering flexibility for future construction. The property description also notes that a duplex may be possible on the site, subject to applicable approvals. As presented, the parcel can support contractors seeking a substantial on-site workspace and storage option, or industrial-minded owners looking to build from an already improved location.
The site is located at 108 N Main St in Union Bridge, Maryland. Based on walk and bike scores reported for the area, it is car-dependent, supporting the site’s practical fit for users who need straightforward access for vehicles and materials.
For buyers, this is a workable combination of land and an existing shop footprint, offering flexibility for future construction. The property description also notes that a duplex may be possible on the site, subject to applicable approvals. As presented, the parcel can support contractors seeking a substantial on-site workspace and storage option, or industrial-minded owners looking to build from an already improved location.
Key Highlights
- 0.413‑acre lot in Union Bridge, MD, with a 2,600 SF shop garage
- Shop garage features 10–12‑foot ceilings and multiple oversized doors: 12’x12’, 10’x10’, and 8’x8’
- Water and sewer taps are already installed for easier start of construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,134
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,680
$362.7K
Cap Rate 7%
$259,057
$259.1K
Cap Rate 9%
$201,489
$201.5K
Market Conditions
NOI Build-Up for 2,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.5K $8.28/SF
− Vacancy
−$194 −$0.07/SF
EGI
$21.3K $8.21/SF
− OpEx
−$3.2K −$1.23/SF
NOI
$18.1K $6.97/SF
Area
Carroll County, MD
Vacancy
0.90%
Lease Rate
$8.28 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,680
Cap Rate 7%
$259,057
Cap Rate 9%
$201,489
Alternative Uses
Best Use
Warehouse
$259.1K
$226.7K – $302.2K
NOI $18,134 @ 7.0% cap · market cap 7.60%
Second Best
Industrial
$213.3K
$186.7K – $248.9K
NOI $14,934 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$964.2K
$843.7K – $1.12M
NOI $67,495 @ 7.0% cap · market cap 28.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21791, MD
5,292
Population
1,975
Households
2.7
Avg Household Size
42
Median Age
26%
College-Educated
94%
High-School Grad
46.0 sq mi
ZIP Area
115
Density / Sq Mi
$90,460
Median Household Income
$49,591
Median Earnings
$1,320
Median Rent
$370,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Developable lot in Union Bridge includes a shop garage with multiple oversized doors and 10–12-foot ceilings.
Where is this warehouse located?
The property is located at 108 N Main St Union Bridge, MD.
What is the asking price?
The asking price for this property is $238,500.
What are key features of this property?
This property features: 0.413‑acre lot in Union Bridge, MD, with a 2,600 SF shop garage; Shop garage features 10–12‑foot ceilings and multiple oversized doors: 12’x12’, 10’x10’, and 8’x8’; Water and sewer taps are already installed for easier start of construction
