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    Md-291 Millington, MD 21651
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    Md-291 Millington, MD 21651

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    • Warehouses
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    Current Use by Public Records

    • Warehouses

    Property Details for 0 Md-291

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional industrial property, situated on the west side of Route 301 in Millington, Maryland, offers a significant opportunity for businesses seeking warehouse space. The property encompasses a substantial land area ranging from 20.543 to 20.665 acres, providing ample room for expansion or future development. Currently zoned as Employment Center, this versatile site allows for a variety of industrial uses. The property features multiple tenancy options, making it ideal for businesses of varying sizes. While the exact building square footage is currently unavailable, the site boasts a generous 195 parking spaces, ensuring convenient access for employees and clients. The location in Millington, MD (zip code 21651), offers easy access to major transportation arteries, providing convenient connections to Wilmington, Philadelphia, Baltimore, Washington D.C., and Northern Virginia. This strategic location on Maryland's Upper Eastern Shore of the Chesapeake Bay presents a unique blend of accessibility and scenic beauty. The property's address is MD-291. Interested parties are encouraged to inquire for further details and availability. This is a rare opportunity to secure a substantial industrial property in a prime location with excellent connectivity. The property's size and zoning make it suitable for a wide range of industrial and commercial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Millington
    County
    Queen Anne's
    State
    Maryland
    Longitude
    -75.8666
    Latitude
    39.2721

    Comparable in this City

    • Value Estimation by Request
      20.54 Acres

      301 Of Maryland Rte

      Distribution properties • 20.54 Acres
      301 Of Maryland Rte, Millington, MD 21651
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    • Value Estimation by Request
      2,336 SF

      410 Back St

      WAREHOUSE, STORAGE • 2,336 SF
      410 Back St, Millington, MD 21651
      View Details
    • Value Estimation
      $2,280,000
      4,000 SF

      110 Chester Riv Hts Rd

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      110 Chester Riv Hts Rd, Millington, MD 21651-1611
      View Details
    • Value Estimation
      $530,000
      12,470 SF

      210 Chester Riv Hts Rd

      WAREHOUSE, STORAGE • 12,470 SF
      210 Chester Riv Hts Rd, Millington, MD 21651-1644
      View Details
    • Value Estimation by Request
      2,400 SF

      10435 Edge Rd

      WAREHOUSE, STORAGE • 2,400 SF
      10435 Edge Rd, Millington, MD 21651-1109
      View Details
    • Value Estimation by Request
      2,788 SF

      173 Sassafras St

      WAREHOUSE, STORAGE • 2,788 SF
      173 Sassafras St, Millington, MD 21651-2055
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Scenic Peninsula on Chesapeake Bay

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      Waterfront Land in Millington, MD

      Waterfront land with public water/sewer allocation near Route 301.
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    Millington, MD 21651
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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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