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    30342 Foskey Ln Delmar, MD 21875
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    30342 Foskey Ln Delmar, MD 21875

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    • Commercial real estate
    • 1,508 SF
    • 1.75 lot acres
    For Sale
    $450,000
    View Listing →
    1.75 Acre Corner Parcel For Sale
    $450,000
    1.75 Acres

    1.75 Acre Corner Parcel

    Corner parcel zoned Community Business District with public water.

    30342 FOSKEY LANE, Delmar, MD 21875
    View Listing
    Property ID
    US40-0231344
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Crab Pot / Restaurant

    Property Details for 30342 Foskey Ln

    Year built
    1995
    Construction
    BRICK
    Lot size
    1.75 lot acres
    Property size
    1,508 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    11-005969
    APU
    11005969

    Description

    This exceptional 1.75-acre commercial parcel presents a unique investment opportunity in Delmar, Maryland. Strategically located on the corner of US Route 13 (Ocean Highway) and Foskey Lane, this property boasts significant visibility and accessibility. Its zoning designation, Community Business District, within the Town of Delmar, allows for a wide range of commercial uses, making it ideal for businesses seeking high-traffic exposure. The property benefits from readily available public water along its US Route 13 frontage, simplifying development and operational costs. This prime location offers unparalleled potential for businesses seeking a prominent presence along a major thoroughfare. The expansive acreage provides ample space for development, allowing for flexibility in design and functionality. Note that an adjacent property at 9245 Ocean Highway is also available for sale, and the owners are open to selling both parcels as a combined package, presenting an even more substantial development opportunity. This presents a rare chance to acquire a significant commercial holding in a thriving location. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The asking price for this single parcel is $450,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Delmar
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5597
    Latitude
    38.4456
    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
    $1,746
    $175,000
    $0.00
    $175,000
    -
    $175,000
    $0.00
    $175,000

    Comparable in this City

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      0.91 Acres

      9525 Ocean Hwy

      COMMERCIAL (GENERAL) • 0.91 Acres
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      1.95 Acres

      Old Delmar Rd

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    Similar Nearby for Sale

    • $450,000
      1.75 Acres

      Prime Delmar Commercial Land

      1.75 Acres, US Route 13 Frontage
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      3.06 Acres

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      Commercial real estate • 11.00 Acres
      Ocean Hwy, Delmar, MD 21875
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    • $595,000

      Delmar Multifamily Property on Route 13

      Six-unit apartment complex on 1.7 acres with highway frontage.
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      View Details
    • $535,000

      Delmar Land for Sale

      Land available in Delmar, Maryland.
      9385 Stable Ln, Delmar, MD 21875
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    • $325,000

      Commercial Land on Ocean Highway

      Commercial land available on Ocean Highway in Delmar, Maryland.
      9245 Ocean Hwy, Delmar, MD 21875
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Route 13 Frontage Showroom/Warehouse

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      8999 Ocean Hwy, Delmar, MD 21875
      View Details
    • $5 SF/Yr
      12,000 SF

      Warehouse with Route 13 Frontage

      Warehouse with office and mezzanine space available for lease.
      9172 Ocean Hwy, Delmar, MD 21875
      View Details
    • $25,000

      Delmar Commercial Highway Pad Site

      0.65 acre commercial land for rent on US Route 13.
      8600 Ocean Hwy, Delmar, MD 21875
      View Details
    • $6,294 /Mo
      239,580 SF

      Delmar Retail/Showroom & Warehouse Space

      Renovated showroom, office, and warehouse space available for lease.
      8999 Ocean Hwy, Delmar, MD 21875
      View Details
    • $5,700 /Mo

      New Industrial Building with Railroad

      New 4,000 SF building on 3 acres with railroad access.
      29655 Connelly Mill Rd, Delmar, MD 21875
      View Details
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    Delmar, MD 21875
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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.

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