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    502 Factory Ave Ridgely, MD 21660

    Sponsored
    For Sale
    $3,950,000

    129,163 SF Warehouse/Cold Storage

    Property size:
    129,163 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This expansive industrial property in Ridgely, Maryland, presents a significant investment opportunity. Encompassing approximately 9.68 acres (with an additional 4.62 acres potentially available), the complex features seven buildings totaling 129,163 square feet. Four of the buildings (approximately 71,164 square feet) offer refrigerated cold storage capabilities, ideal for various industries. The property boasts 18-30 foot ceiling heights, five loading docks, and ample space for truck parking. Zoned I-2, this versatile site is suitable for warehousing, food production, or manufacturing. The buildings range in size from approximately 9,000 to 30,000 square feet, providing flexibility for diverse operational needs. Renovated in 2012, the property is currently vacant and available for immediate occupancy on October 31, 2024. The asking price is $3,950,000, representing a compelling value at $30.58 per square foot. The property includes existing office space and outbuildings, offering additional storage or operational areas. With significant power capacity (8 megawatts), this complex is well-equipped to support a range of industrial operations. This fee-simple ownership opportunity provides a rare chance to acquire a substantial, well-located industrial asset in Caroline County.

    Property Features for 502 Factory Ave

    General Information

    Property type
    Refrigerated & Cold Storages
    Square Feet
    129,163 SF
    Class
    C
    Lot Size
    201,247 SF

    Building Details

    Year Renovated
    2012
    Buildings
    7
    Stories
    1

    HighLights

    • 129,163 SF of I‑2 zoned industrial buildings.
    • ±14.295 acres total land (includes ±4.616 acres available).
    • Two cold storage warehouses, two offices, and multiple manufacturing/food processing areas.
    • Suitable for warehousing, food production; features truck court, truck scale, and freezer building with existing equipment; 8 megawatts of power.
    • 71,164 SF of refrigerated space in Buildings 1, 2, 3, and 6.
    • Asking price: $3,950,000 (Price Reduced!).
    Property Profile Location Intelligence

    Current Use by Public Records

    Refrigerated & Cold Storages

    Map

    City
    Ridgely
    County
    Caroline
    State
    Maryland
    Longitude
    -75.8916015
    Latitude
    38.9442481

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    FAQs

    What type of property is this?
    Refrigerated / Cold Storage - 129,163 SF Warehouse/Cold Storage
    Where is this refrigerated / cold storage located?
    The property is located at 502 Factory Ave Ridgely, MD.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: 129,163 SF of I-2 zoned industrial buildings.; ±14.295 acres total land (includes ±4.616 acres available).; Two cold storage warehouses, two offices, and multiple manufacturing/food processing areas.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    502 Factory Ave Ridgely, MD 21660
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