NOT LISTED FOR SALE

Estimated Value: $272,000 - $1,532,000

33 Acres
$30,189 Price per Acre
1,437,480 Sq Ft Lot

Sale Details

Date Sold: March 9, 2022

Last sale price $1,250,000 $1,184 Per Sq Ft

Est. 20% decrease in value since last sale

Current estimated payment $6,281 / mo

195 Days on Market

About This Lot

As of March 2022

PROPERTY OVERVIEW Perfect Site for Townhomes and Apartments in the rapidly growing Salisbury area. Located adjacent to Addison Court the highest end Apartment Complex in the region PROPERTY HIGHLIGHTS Fantastic Location For Townhomes or Apartments! Approved For 157 Townhomes Can Potentially Have Up To 600 Apartments Perfect Zoning For Multifamily Uses R10A Complete Infrastructure Pricing Analysis Completed Substantial Engineering Work Already Completed See engineering cost synopsis in the attached PDF documentThere is an existing 44.38 acre section consisting of 3 parcels ( 25.18 ac + 4.13 ac +15.07 ac) from which a 30 to 33 acre section will be cut out (see Exhibit A site plan) to define the multifamily complex. This will exclude the church structure, adjacent parking lot and athletic fields. The Seller will work with the Buyer if some geometry or access adjustments to the current site plan as defined in the Exhibit A site diagram need to be made. The property currently has access off Dagsboro Road. The extension of North Point Drive will attach to the property to the south. Zoning is City Of Salisbury R-10 A: See attached Approval Letter and Zoning Text for Options. Highest and best use factors are projected to be apartments or town homes. The site is approved for 157 townhomes. Project Engineer projects this could be changed to 500 to 600 apartments if desired.

Last Agent to Sell the Property

Chris Peek, CCIM

(410) 543-2440 brent.miller@svn.com SVN |Miller Commercial Real Estate License #27688 Listed on: 06/24/2020

SVN |Miller Commercial Real Estate

Last Buyer's Agent

Chris Peek, CCIM

(410) 543-2440 brent.miller@svn.com SVN |Miller Commercial Real Estate License #27688 Listed on: 06/24/2020

SVN |Miller Commercial Real Estate

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $2,939

Lot Details

  • 33 Acre Lot
  • Additional Parcels
  • Property is zoned R10A

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 05-091470

Property Details

Property Type

Land

Est. Annual Taxes

$2,939

Lot Details

33 Acres

Listing Details

  • Property Type: Land
  • Property Sub Type: Land
  • Ownership: Fee Simple
  • Current Use: Agriculture, Church
  • Historic: No
  • New Construction: No
  • Federal Flood Zone: No
  • Automatically Close On Close Date: No
  • Special Features: None

Interior Features

  • Price Per Sq Ft: 0.90

Exterior Features

  • Construction Completed: No
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: No
  • Sewer/Septic System: Public Sewer
  • Utilities: Electric Available, Sewer Available, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No

Schools

  • School District Source: Listing Agent

Lot Info

  • Additional Parcels: Yes
  • Lot Size Acres: 33.00
  • Lot Dimensions: 0.00 x 0.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1437480.00
  • Possible Use: Multi-Family, Apartment Building, Apartments
  • Topography Description: Flat Cl,ear
  • Zoning: R10A
  • Farmland Preservation: No
  • In City Limits: Yes

Green Features

  • Clean Green Assessed: No

Rental Info

  • Lease In Effect: Yes
  • Vacation Rental: No
  • Rent Spree Online Application: No

Tax Info

  • Assessor Parcel Number: 5338293
  • Tax Annual Amount: 2939.00
  • Assessor Parcel Number: 05-091470
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2021

MLS Schools

  • School District Name: WICOMICO COUNTY PUBLIC SCHOOLS

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 19, 2023
Sold by
Bought by
Current Estimated Value
$996,246

Purchase Details

Closed on
Jun 7, 2023
Sold by
Bought by

Purchase Details

Listed on
Jun 24, 2020
Closed on
Mar 8, 2022
Sold by
Bought by
Seller's Agent
Chris Peek, CCIM
SVN |Miller Commercial Real Estate
Buyer's Agent
Chris Peek, CCIM
SVN |Miller Commercial Real Estate
List Price
$1,500,000
Sold Price
$1,250,000
Premium/Discount to List
-$250,000
-16.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-5.09%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$222,900 None Listed On Document
$151,000 None Listed On Document
$1,250,000 None Listed On Document
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
03/09/2022 03/09/22 Sold $1,250,000 -3.8% $1,184 / Sq Ft
12/15/2021 12/15/21 Price Changed $1,300,000 +18.2% $1,231 / Sq Ft
01/05/2021 01/05/21 Pending -- -- --
10/07/2020 10/07/20 Price Changed $1,100,000 -26.7% $1,042 / Sq Ft
06/24/2020 06/24/20 For Sale $1,500,000 -- $1,420 / Sq Ft
Source: Bright MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $11,175 $1,216,333 $0 $0
2024 $11,704 $1,214,400 $1,191,600 $22,800
2023 $12,062 $1,214,000 $0 $0
2022 $12,427 $1,213,600 $0 $0
2021 $747 $67,200 $45,600 $21,600
2020 $750 $66,900 $0 $0
2019 $697 $66,600 $0 $0
2018 $1,184 $66,300 $45,600 $20,700
2017 $610 $55,233 $0 $0
2016 -- $44,167 $0 $0
2015 $673 $33,100 $0 $0
2014 $673 $33,100 $0 $0
Source: Public Records

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Map

Source: Bright MLS

MLS Number: MDWC108628

Bright MLS

APN: 05-121027

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