Property profile

306 Lake Dr Queenstown, MD 21658

FOR LEASE
Commercial land
Property ID
US40-0952040
564 SF 23.63 ac lot Built 1970
Entity Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional retail property, situated at 306 Lake Drive in Queenstown, Maryland, presents a unique investment opportunity. Spanning 22.65 acres, the property boasts a renovated greenhouse, shade houses, and cold frames, all ready for immediate occupancy. This established location, formerly known as Wye Nursery, has a rich history dating back to 1953. Its strategic position on Route 50 East, with convenient access from Route 50 West, ensures high visibility and significant traffic exposure. The property benefits from an average daily traffic count of 77,000 vehicles during peak season, providing unparalleled potential for a thriving business. The existing infrastructure is ideal for a nursery or similar retail operation. Three flower shops have already committed to purchasing $30,000 worth of flowers and plants annually, providing a strong foundation for immediate revenue generation. This turnkey operation offers a rare chance to acquire a well-established business with significant growth potential in a high-demand location. The property's size and established infrastructure make it an attractive proposition for entrepreneurs seeking a ready-to-go business venture. The high traffic volume ensures maximum exposure and accessibility for customers. This is a truly exceptional opportunity to establish or expand a successful retail business in a prime location. The asking price is to be determined.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 1970
Total area 564 SF
Lot 23.63 ac (1,029,323 SF)
Zoning code SC
APN 03-005119
UPID US40-0952040

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Training Center Vocational School

Location

306 Lake Dr Queenstown, MD 21658
Queenstown metro Census 810500 BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$155k

Owner & transaction history

since 2022
2 recorded transactions
2022
$649,000
2006
Price N/A

Zoning & alternative use

SC · Queenstown, MD

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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