1301 State StDelmar, MD 21875

Property Details for 1301 State St

Year built

2006

Construction

CONCRETE

Lot size

1.74 AC

Property size (Sq ft)

14,564 SF

Zone code

C

Property type

Retail properties

Property subtype

Retail space

APN

11-028306

APU

11028306

Description

This exceptional 14,564-square-foot retail and office property in Delmar, Maryland, presents a unique investment opportunity. Situated on a 1.74-acre lot at the signalized intersection of East State Street (Route 54) and Sussex Highway (Route 13), this property boasts unparalleled visibility with over 45,000 vehicles passing daily. The location benefits from three points of access, offering flexibility for future redevelopment. The building is currently entirely vacant, providing a blank canvas for a variety of uses, including executive office, medical office, pharmacy, or other retail ventures. Its strategic position on the Maryland-Delaware border ensures high traffic volume, further enhanced by the proximity to major national retailers such as Food Lion, Wawa, McDonald's, Verizon, Pet Valu, and AutoZone. The surrounding area demonstrates strong population growth, with 4,101 people within one mile, 10,215 within three miles, and 24,132 within five miles. Recent residential construction and a projected population increase of 1.11% through 2023 underscore the area's continued expansion and potential. The property's multiple access points and substantial size (14,564 square feet) allow for diverse tenant configurations or a single large-scale operation. Numerous new commercial developments in the vicinity further solidify this location as a thriving commercial hub. Three individual spaces ranging from 1,750 to 14,564 square feet are available for lease.

• CAP approach

  CAP return

  Valuation

  6%

  $4,616,292

  6.5%

  $4,261,193

  7%

  $3,956,822

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,308,878

  Geo Method

  $2,308,878

• Alternative Use

  Use

  Valuation

  Residential

  $3,594,476

  Hospitality

  $3,292,520

  Educational

  $2,739,338

  Medical

  $2,833,548

  Retail

  $4,261,193

Location Insight

City

Delmar

County

Wicomico

State

Maryland

Latitude

38.4551

Longitude

-75.5593

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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