Listing Agency: SB Real Estate

Listed By: Jeff Sellers · License #RS0023229 Show Phone

Source: Sbrealtyco

Added: May 14 Changed: Aug 8 Last Checked: Sep 5 at 6:31AM

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Investment Insights

Based on property information with market context.

This 10.6-acre commercial/agricultural property is available immediately and includes a 5-acre fenced and secure storage yard. The facility features four large existing greenhouses that are heated and cooled, each with water connections, along with room for additional greenhouse structures. The leased/covered improvements also include seven additional outbuildings for flexible use.

The front building is approximately 4,500 square feet each for the greenhouses, supported by additional structures including a 550 SF walk-in cooler, a 200 SF break room building, a 350 SF restroom building, and 350 SF 3-shed buildings, plus other space described as totaling approximately 6,450 SF including greenhouses. The property has customer parking, very nice public restrooms, and a main entrance directly off Augustine Herman Hwy with gated access.

Utilities include a private well and septic system, with tankless hot water heaters noted on-site. The property also includes a highway entrance with gate and secured fenced yard space.

Key Highlights

• 10.6‑acre commercial property with a 5‑acre fenced, secure storage yard available immediately
• Four existing greenhouses (heated/cooled), each 4,500 SF +/-, with water connections and space for additional greenhouses
• Front building includes a 550 SF walk‑in cooler, plus restroom and break room outbuildings

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

$85,951

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

5.77%

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%

$1,719,020 $1.7M

Cap Rate 7%

$1,227,871 $1.2M

Cap Rate 9%

$955,011 $955.0K

Market Conditions

NOI Build-Up for 6,450 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

$130.8K $20.28/SF

− Vacancy

−$8.0K −$1.24/SF

EGI

$122.8K $19.04/SF

− OpEx

−$36.8K −$5.71/SF

NOI

$86.0K $13.33/SF

Area

Cecil County, MD

Vacancy

6.13%

Lease Rate

$20.28 /SF/Yr

Expense Ratio

30.00%

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%

$1,719,020

Cap Rate 7%

$1,227,871

Cap Rate 9%

$955,011

Alternative Uses

Best Use

Retail

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,951 @ 7.0% cap · market cap 5.77%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,440 @ 7.0% cap · market cap 11.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

Explore this area Business Placement

Demographics for 21913, MD

682

Population

409

Households

1.7

Avg Household Size

33

Median Age

29%

College-Educated

90%

High-School Grad

1.2 sq mi

ZIP Area

568

Density / Sq Mi

$95,795

Median Household Income

$45,938

Median Earnings

$882

Median Rent

$233,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this farms located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Farm - A 10.6-acre property with a fenced, secure storage yard and four heated/cooled greenhouses plus outbuildings.

Where is this farm located?

The property is located at 5996 Augustine Herman Hwy Cecilton, MD.

What is the asking price?

The asking price for this property is $1,490,000.

What are key features of this property?

This property features: 10.6‑acre commercial property with a 5‑acre fenced, secure storage yard available immediately; Four existing greenhouses (heated/cooled), each 4,500 SF +/-, with water connections and space for additional greenhouses; Front building includes a 550 SF walk‑in cooler, plus restroom and break room outbuildings