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    Corner Commercial Land Site Title is generated by Realmo AI

    34861 W Line Road, Selbyville, DE 19975

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    Claim this Listing
    For Sale
    $3,900,000

    Cleared corner commercial land with water and sewer hookups suitable for a range of development uses.

    Type:Commercial
    Lot size:
    2.36 Acres
    Added:
    Mar 22, 2022
    Days on Market:
    1537
    Last Refresh:
    Jun 5 at 2:47 am

    Property Features for 34861 W Line Road

    General Information

    Standard status
    Active
    Lot size
    2.36 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Nancy Reither

    Listing agent Nancy Reither

    Listing office Coldwell Banker Realty

    Listing date Mar 22, 2022

    Source Deepcreeklake

    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 Coldwell Banker Realty

    HighLights

    • 2.36‑acre corner commercial lot on Rt 54 and W. Line Rd in Selbyville, DE
    • Cleared site with 8" hookups ran to the property
    • Water and 8' sewer main available to support development
    • Located directly across from Yellowfins Restaurant and a shopping center on heavily traveled Rt 54
    • Approximately 3–4 miles to the beaches of Ocean City, MD and Fenwick Island

    Overview

    This commercial land site is cleared and ready for development, offered for sale at a corner location. The property is served with water and sewer infrastructure, including an 8' sewer main described in the offering, along with 8" hookups ran to the property. Utility-ready lots like this can support a variety of commercial concepts, including mixed-use, office, medical, professional, retail, or hotel development depending on final approvals.

    The site is located on the corner of RT 54 and W. Line Rd in Selbyville, Delaware. The property is directly across from Yellowfins Restaurant and a shopping center, and it benefits from exposure to heavily traveled RT 54. The offering also notes proximity of approximately 3-4 miles to the beaches of Ocean City, MD and Fenwick Island.

    For buyers evaluating development options, the combination of a cleared parcel and existing water and sewer service can simplify early project planning. Owner financing is also noted as available with the sale, which may be useful for qualified purchasers seeking an alternative to traditional lending terms. Prospective buyers should confirm final site design requirements and permit feasibility for their intended use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Center Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Selbyville
    County
    Sussex
    State
    Delaware
    Longitude
    -75.1348156
    Latitude
    38.459245

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    FAQs

    What type of property is this?
    Commercial land - Cleared corner commercial land with water and sewer hookups suitable for a range of development uses.
    Where is this commercial land located?
    The property is located at 34861 W Line Road Selbyville, DE.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: 2.36‑acre corner commercial lot on Rt 54 and W. Line Rd in Selbyville, DE; Cleared site with 8" hookups ran to the property; Water and 8' sewer main available to support development
    We can help!
    Listing Contact
    Nancy Reither
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    34861 W Line Road, Selbyville, DE 19975
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