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    12302 Ocean Hwy Princess Anne, MD 21853
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    12302 Ocean Hwy, Princess Anne, MD 21853

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    • Lifestyle centers
    • 15,982 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 12302 Ocean Hwy

    Year built
    2010
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This vibrant mixed-use commercial center, located at the well-lit intersection of Route 13 and UMES Blvd in Princess Anne, Maryland, offers exceptional retail and restaurant opportunities. Built in 2010, the 15,982 square foot property sits on a 2.65-acre lot and boasts ample on-site parking for both employees and customers. Currently, 3,180 square feet of space is available for lease, with flexible configurations ranging from a minimum of 780 square feet to a maximum contiguous space of 2,400 square feet. The C-2 Highway Commercial zoning allows for a variety of uses. Benefit from high visibility and exposure on Route 13, with pylon signage opportunities available. This prime location provides excellent access to the University of Maryland Eastern Shore, ensuring a consistent flow of potential customers. The property's strategic placement at a major entrance to the university makes it an ideal location for businesses seeking a strong customer base. This is a rare opportunity to establish a thriving business in a high-demand area of Somerset County. Contact us today to learn more about leasing options and secure your space in this thriving commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Princess Anne
    County
    Somerset
    State
    Maryland
    Longitude
    -75.6923
    Latitude
    38.2274

    Comparable in this City

    • Value Estimation by Request
      3,500 SF

      12123 Somerset Ave

      BAR, TAVERN
      12123 Somerset Ave, Princess Anne, MD 21853-1316
      View Details
    • Value Estimation
      $530,000
      15,982 SF

      12302 Somerset Ave

      MINI-MALL
      12302 Somerset Ave, Princess Anne, MD 21853-3099
      View Details
    • Value Estimation by Request
      7,560 SF

      30268 Mt Vernon Rd

      SHOPPING CENTER, STRIP CENTER
      30268 Mt Vernon Rd, Princess Anne, MD 21853-2202
      View Details
    • Value Estimation by Request
      8,400 SF

      30408 Mt. Vernon Rd

      Individual retail properties
      30408 Mt. Vernon Rd, Princess Anne, MD 21853
      View Details
    • Value Estimation
      $2,100,000
      10,640 SF

      12175 Somerset Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      12175 Somerset Ave, Princess Anne, MD 21853-3003
      View Details
    • Value Estimation
      $525,000
      7,180 SF

      30371 Mt Vernon Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      30371 Mt Vernon Rd, Princess Anne, MD 21853-1438
      View Details

    Similar Nearby for Sale

    • $1,175,000

      Princess Anne Multifamily Investment

      17-unit property near University of Maryland campus.
      11761 Somerset Ave, Princess Anne, MD 21853
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    • $299,900
      8.70 Acres

      Vacant Land on Ocean Highway

      8.70+- acre unimproved tract with frontage on RT 13.
      Ocean Hwy, Princess Anne, MD 21853
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    • $120,000
      4.15 Acres

      Waterfront Lot in Princess Anne

      4.15 acre building lot on Monie Creek.
      12465 Mallard Ln, Princess Anne, MD 21853
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo

      Princess Anne Commercial Space Available

      Located off Princess Anne's main road, ideal for office/retail.
      11680 Somerset Ave, Princess Anne, MD 21853
      View Details
    • Contact for pricing

      Former Retail Space Available

      Former Rite Aid location off Business Route 13.
      12154 Brittingham Ln, Princess Anne, MD 21853
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      Downtown Princess Anne Commercial Space

      Commercial space in downtown Princess Anne, ready for build-out.
      30507 Prince William St, Princess Anne, MD 21853
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    • Contact for pricing

      Downtown Princess Anne Commercial Space

      Commercial space in downtown Princess Anne, across from courthouse.
      30509 Prince William St, Princess Anne, MD 21853
      View Details
    • $795 /Mo

      Princess Anne Office Space Available

      Office space for rent in Princess Anne, Maryland.
      30507 Prince William St, Princess Anne, MD 21853
      View Details
    • $1,350 /Mo

      Divisible Commercial Space Available

      Flexible commercial space suitable for various business uses.
      11676 Somerset Ave, Princess Anne, MD 21853
      View Details
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    Princess Anne, MD 21853
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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