Brick Mixed-Use
New
For Sale
$249,900
1309 Market St, Pocomoke City, MD 21851
Former bank and daycare offers adaptable space for office, retail, and professional service uses.
Property Size1,152 SF
Price / SF$216.93
Days on Market2
Property Features for 1309 Market St
General Information
Standard status
Active
Size
1,152 SF
Building Details
Year Built
1977
Construction
brick
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
James Craig Glovier · License #676571
(410) 430-2171
Source:
Southjerseyshorehomesfinder
Added: Sep 9
Last Checked: Sep 4 at 3:58AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This mixed-use commercial property at 1309 Market Street features a solid brick building with ample parking. The space was previously operated as a daycare and was originally constructed as a bank, providing a distinctive existing framework for continued commercial use.
The property can accommodate a range of business applications identified in the available information, including office space, a beauty salon, barber shop, professional services, retail, or medical use. Its Market Street address, convenient access, and visibility support consideration by businesses seeking space for operations or relocation.
The property can accommodate a range of business applications identified in the available information, including office space, a beauty salon, barber shop, professional services, retail, or medical use. Its Market Street address, convenient access, and visibility support consideration by businesses seeking space for operations or relocation.
Key Highlights
- Solid brick commercial building
- Ample on‑site parking
- Originally constructed as a bank
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
$11,905
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
4.76%
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%
$238,100
$238.1K
Cap Rate 7%
$170,071
$170.1K
Cap Rate 9%
$132,278
$132.3K
Market Conditions
NOI Build-Up for 1,152 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
$18.4K $15.96/SF
− Vacancy
−$1.4K −$1.20/SF
EGI
$17.0K $14.76/SF
− OpEx
−$5.1K −$4.43/SF
NOI
$11.9K $10.33/SF
Area
Worcester County, MD
Vacancy
7.50%
Lease Rate
$15.96 /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%
$238,100
Cap Rate 7%
$170,071
Cap Rate 9%
$132,278
Alternative Uses
Best Use
Retail
$170.1K
$148.8K – $198.4K
NOI $11,905 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$166.6K
$145.8K – $194.4K
NOI $11,664 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$276.8K
$242.2K – $323.0K
NOI $19,378 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
80k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 62%
Home Improvements & Furnishings 18%
Dining 12%
Shops & Services 9%
Walmart
Superstores
49,637 visits/mo
0.5 miles
Tractor Supply Co.
Home Improvements & Furnishings
12,485 visits/mo
0.4 miles
Hardee's
Dining
9,605 visits/mo
0.3 miles
Family Dollar
Shops & Services
7,059 visits/mo
0.3 miles
Aaron's
Home Improvements & Furnishings
1,686 visits/mo
0.4 miles
Demographics for 21851, MD
7,229
Population
3,547
Households
2
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
103.6 sq mi
ZIP Area
70
Density / Sq Mi
$50,847
Median Household Income
$37,255
Median Earnings
$828
Median Rent
$186,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former bank and daycare offers adaptable space for office, retail, and professional service uses.
Where is this mixed-use property located?
The property is located at 1309 Market St Pocomoke City, MD.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Solid brick commercial building; Ample on‑site parking; Originally constructed as a bank
