Mixed-Use Warehouse and Retail
For Sale
Contact for pricing
445 Makemie Rd, Pocomoke City, MD 21851
Mixed-use warehouse and retail space with Route 13 visibility.
Property Size2,400 SF
Lot Size25.00 Acres
Price / SF$132.50
Days on Market1750
Property Features for 445 Makemie Rd
General Information
Standard status
Active
Size
2,400 SF
Lot size
25.00 Acres
Property subtype
Industrial
Zoning
B-2
Listing Agency:
NAI Coastal - Salisbury
(443) 513-0682
Listed By:
George Merritt · License #MD 0681070
Source:
Crexi
Added: Nov 6, 2021
Changed: Aug 21
Last Checked: Aug 21 at 11:08AM
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 NAI Coastal - Salisbury
Investment Insights
Based on property information with market context.
This commercial property offers approximately 2,400 square feet of mixed-use warehouse and retail space. The property is located adjacent to Route 13, providing visibility and accessibility. It is suitable for businesses needing space for office and/or retail operations, as well as industrial and storage purposes. The property includes 25 acres of land and is located just outside downtown Pocomoke City, MD.
Key Highlights
- +/- 2,400 SF of Mixed‑use Warehouse and Retail space
- Located adjacent to Route 13
- Ideal for office, retail, industrial, and storage use
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
$24,802
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
7.80%
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%
$496,040
$496.0K
Cap Rate 7%
$354,314
$354.3K
Cap Rate 9%
$275,578
$275.6K
Market Conditions
NOI Build-Up for 2,400 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
$38.3K $15.96/SF
− Vacancy
−$2.9K −$1.20/SF
EGI
$35.4K $14.76/SF
− OpEx
−$10.6K −$4.43/SF
NOI
$24.8K $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%
$496,040
Cap Rate 7%
$354,314
Cap Rate 9%
$275,578
Alternative Uses
Best Use
Retail
$354.3K
$310.0K – $413.4K
NOI $24,802 @ 7.0% cap · market cap 7.80%
Second Best
Mixed Use
$347.1K
$303.8K – $405.0K
NOI $24,300 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$576.7K
$504.7K – $672.9K
NOI $40,372 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use warehouse and retail space with Route 13 visibility.
Where is this mixed-use property located?
The property is located at 445 Makemie Rd Pocomoke City, MD.
What is the asking price?
The asking price for this property is $318,000.
What are key features of this property?
This property features: +/- 2,400 SF of Mixed‑use Warehouse and Retail space; Located adjacent to Route 13; Ideal for office, retail, industrial, and storage use
