412 Railroad Ave Federalsburg, MD 21632

Property Details for 412 Railroad Ave

Lot size

4.66 lot acres

Zone code

ID2

Property type

Industrial properties

APN

05-029481

APU

5029481

Description

This exceptional 100,336 sq ft industrial property in Federalsburg, MD, sits on 7.93 acres and boasts multiple buildings constructed between 1956 and 2008. The complex features concrete block and steel framing, with recent additions in pre-engineered steel. Improvements include standing seam metal roofs (2020), updated electrical services, and varying ceiling heights from 9 to 35 feet. Heating, ventilation, and air conditioning are present throughout, with cold storage areas equipped with refrigeration. The property is currently leased to M&M Refrigeration, LLC (a Johnson Controls International subsidiary) under a triple net lease through 2033 with two five-year options and annual rent adjustments based on CPI or 2%, whichever is higher. The current annual rent from M&M Refrigeration is $298,120.08. A smaller portion is leased to Jack and Jill, an ice cream distributor, on a month-to-month basis, generating $21,600 annually. The total annual net income is $319,720.08, yielding a 7.52% cap rate at the asking price of $4,250,000. An additional 4.66 acres of undeveloped land may be available separately. Comprehensive due diligence materials, including surveys, leases, environmental reports, are available upon execution of a non-disclosure agreement.

Location Insight

City

Federalsburg

County

Caroline

State

Maryland

Longitude

-75.7791

Latitude

38.6854

Property Tax & Assessments