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    2744 Augustine Herman Hwy Chesapeake City, MD 21915

    Sponsored
    For Sale
    $925,000

    Prime MD Self Storage Investment

    Property size:
    59,950 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional self-storage development opportunity in Chesapeake City, MD, is offered at $925,000. The site plan is approved for a state-of-the-art 50,300-square-foot facility with 503 units, offering a mix of climate-controlled and drive-up options. Located on Augustine Herman Highway (10,000+ ADT), this project benefits from high market rents and a lack of competition within a 3-mile radius. Market analysis shows only 2.5 square feet of self-storage space per person within a 5-mile radius. The development is ideally situated near a local middle and high school and will thrive due to its proximity to the Southfields of Elkton project, a large mixed-use development encompassing 630 acres with residential, retail, commercial, and recreational components. The planned facility will incorporate modern security systems and convenient amenities, ensuring tenant satisfaction. This investment presents a strong return potential in an underserved market with an average household income exceeding $138,000 and over 9,000 cars passing daily. The property's total gross square footage is 59,950 square feet, with a price per square foot of $15.43 and a price per unit of $1,839. This is a turnkey opportunity to capitalize on the growing demand for self-storage solutions in a vibrant and expanding community.

    Property Features for 2744 Augustine Herman Hwy

    General Information

    Property type
    Self storage facilities
    Square Feet
    59,950 SF

    Building Details

    Units
    503

    HighLights

    • Development opportunity with no competition within a three‑mile radius.
    • Low density of 2.57 square feet per person within a five‑mile radius.
    • 63,150 gross square feet and 52,700 net leasable square feet.
    • Features climate‑controlled and drive‑up units.
    • High market rents.
    • Average household income exceeding $138,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store Western Union Money Transfer Service FedEx OnSite Mailing Service

    Suggested Use

    Restaurant Realty agency Dental Office Wholesale Shop Auto Repair Shop Hair Salon Food Market Storage Facility Grocery Store Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake City
    County
    Cecil
    State
    Maryland
    Longitude
    -75.825895527041
    Latitude
    39.513216225065

    Nearby Comparable

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    Nearby Similar for Sale

    • $29,800,000

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      Self-Storage Development Opportunity

      Site plan approved self-storage development opportunity in Chesapeake City, MD.
      2744 Augustine Herman Hwy, Chesapeake City, MD 21915
      View Details
    • $1,500,000
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      Chesapeake City Farmland with Horse Amenities

      40-acre preserved farmland with extensive horse amenities and updated ranch.
      3192 Augustine Herman Hwy, Chesapeake City, MD 21921
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    • $875,000
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      Picturesque Chesapeake City Property

      Charming property in historic Chesapeake City, Cecil County.
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    • $599,000

      Chesapeake City Specialty Property

      Specialty property available for sale in Chesapeake City, Maryland.
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      New Construction in Chesapeake City

      New construction specialty property for sale in Chesapeake City.
      156 Basil Ave, Chesapeake City, MD 21915
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    FAQs

    What type of property is this?
    Self storage facility - Prime MD Self Storage Investment
    Where is this self storage facility located?
    The property is located at 2744 Augustine Herman Hwy Chesapeake City, MD.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: Development opportunity with no competition within a three-mile radius.; Low density of 2.57 square feet per person within a five-mile radius.; 63,150 gross square feet and 52,700 net leasable square feet.
    Request Owner's contact information
    2744 Augustine Herman Hwy Chesapeake City, MD 21915
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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
    2744 Augustine Herman Hwy Chesapeake City, MD 21915
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