10860 Market Ln Princess Anne, MD 21853-2914
Property profile & analytics
10860 Market Ln Princess Anne, MD 21853-2914
- Outlet malls
- 12,833 SF
- 3.54 lot acres
Property ID
US40-0558641
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- dg market / Grocery & Convenience Store / Food Market
Property Details for 10860 Market Ln
- Year built
- 2024
- Lot size
- 3.54 lot acres
- Property size
- 12,833 SF
- Zone code
- C-1
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 01-167279
- APU
- 1167279
Description
This exceptional investment opportunity presents a 12,592 square foot Dollar General store in Princess Anne, Maryland. Built in 2024, the property boasts a brand new 15-year absolute NNN lease with five, 5-year renewal options, each including a 10% rent increase. The lease is corporately guaranteed by Dollar General, a credit-rated tenant (BBB by Standard & Poor's) with a substantial national presence. Situated on a large 3.54-acre lot, this property offers significant redevelopment potential. The store benefits from high visibility on Market Lane, near Ocean Highway (23,492 vehicles per day), and enjoys proximity to a 90-unit apartment complex, a 50-room Econo Lodge, and Washington High School & Academy. The location is also convenient to the University of Maryland Eastern Shore, serving a population with an average household income of $57,450 within a 5-mile radius. This larger-format DG Market store offers fresh produce, meat, and dairy, catering to the local community's needs. The property's strong tenant, long-term lease, and substantial lot size make it an attractive investment with a 6.50% cap rate and a current NOI of $154,940. The asking price is $2,383,704, translating to $189.30 per square foot. This is a fee-simple ownership opportunity with 100% occupancy.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,531,000
Market price range: $688k - $2.53M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,780,000 Current use
- OFFICE BUILDING
- $2,160,000 Change: +21% Conversion: Easy
- COMMERCIAL (GENERAL)
- $2,150,000 Change: +21% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Princess Anne
- County
- Somerset
- State
- Maryland
- Longitude
- -75.6911
- Latitude
- 38.1795
- CBSA code
- 41540
- CBSA name
- SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$0.00
$226,400
$1,644,100
$1,870,500
-
$226,400
$1,644,100
$1,870,500
