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    2108-2144 Didonato Dr Chester, MD 21619

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    2108-2144 Didonato Dr Chester, MD 21619

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    • Neighborhood centers
    • 69,771 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 2108-2144 Didonato Dr

    Year built
    1989
    Property size
    69,771 SF
    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    Red Apple Plaza, a thriving 18-acre mixed-use development in Chester, Maryland, offers exceptional retail opportunities. This established shopping center, built in 1989 and renovated in 2008, comprises four buildings totaling 69,771 square feet. Currently, 5,375 square feet of retail space is available, divisible into units as small as 935 square feet, with a maximum contiguous space of 2,400 square feet. The property features convenient 10x10 garage doors in several buildings and ample parking to support a variety of tenants, including food and beverage establishments. Its strategic location boasts high traffic volume, with 69,000 vehicles passing daily. The center's diverse tenant mix includes residential units, creating a dense concentration of potential customers. The zoning is TC, and the property is situated on a 17.94-acre lot in Queen Anne's County. This prime location offers a unique opportunity to establish or expand a business within a well-established and vibrant community. The property's history as a community retail and service center since 1989 speaks to its enduring appeal and strong potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Queen Anne's
    State
    Maryland
    Longitude
    -76.2682
    Latitude
    38.9734

    Comparable in this City

    • Value Estimation
      $4,605,000
      45,151 SF

      Main St

      MINI-MALL • 45,151 SF
      Main St, Chester, MD 21619
      View Details
    • Value Estimation
      $855,000
      6,000 SF

      1925 Main St

      MINI-MALL • 6,000 SF
      1925 Main St, Chester, MD 21619-2607
      View Details
    • Value Estimation
      $1,765,000
      17,000 SF

      2106 Didonato Dr

      SHOPPING CENTER, STRIP CENTER • 17,000 SF
      2106 Didonato Dr, Chester, MD 21619-2628
      View Details
    • Value Estimation
      $630,000
      5,466 SF

      500 Abruzzi Dr

      SHOPPING CENTER, STRIP CENTER • 5,466 SF
      500 Abruzzi Dr, Chester, MD 21619-2199
      View Details
    • Value Estimation by Request
      2,400 SF

      600 Abruzzi Dr

      SHOPPING CENTER, STRIP CENTER • 2,400 SF
      600 Abruzzi Dr, Chester, MD 21619-2198
      View Details
    • Value Estimation
      $3,585,000
      36,420 SF

      1539 Postal Rd

      SHOPPING CENTER, STRIP CENTER • 36,420 SF
      1539 Postal Rd, Chester, MD 21619-2255
      View Details

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    Similar Nearby for Lease

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      4,000 SF

      Community Retail & Service Center

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    Chester, MD 21619
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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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