10860 Market LnPrincess Anne, MD 21853

Property Details for 10860 Market Ln

Year built

2024

Lot size

3.54 AC

Property size (Sq ft)

12,833 SF

Zone code

C-1

Property type

Retail properties

Property subtype

Outlet malls

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.

• CAP approach

  CAP return

  Valuation

  6%

  $10,030,402

  6.5%

  $9,258,832

  7%

  $8,597,487

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,381,371

  Geo Method

  $12,381,371

• Alternative Use

  Use

  Valuation

  Residential

  $7,810,172

  Hospitality

  $7,154,075

  Educational

  $5,952,106

  Medical

  $6,156,808

  Retail

  $9,258,832

Location Insight

City

Princess Anne

County

Somerset

State

Maryland

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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