Opportunity Zone - 6.23 Acres Development Land

Rt. 50 - Ocean Gateway Salisbury, MD 21804

Rt. 50 - Ocean Gateway, Salisbury, MD, 21804
Rt. 50 - Ocean Gateway, Salisbury, MD, 21804
FOR SALE
Property Type:
Other Land
Amount:
$779,000
Last Verified:
Dec 09, 2020

Highlights

  • *6.23 Acres / Cleared site / City services - utilities, street & curbing in place.
  • *32,451 Combined Traffic Count
  • *Located in Maryland Opportunity Zone which could provide tax benefits and incentives to investors.
  • *Zoning permits: apartments, professional, medical and business offices, banks, churches, schools, convenience store, retail, restaurant and many other uses.

Description

6.23 acres zoned PDD, which includes a wide variety of uses included in the Lt. Business & Institutional District, Neighborhood Business District & Select Commercial District. Tremendous US Rt. 50 visibility and access from two side roads - Philip Morris Drive & Beaglin Park Drive.

Located just off US Rt. 50 at Beaglin Park Drive - tremendous visibility and easy access from both Phillip Morris Drive & Beagin Park Drive which are lighted intersections.

Lot Size: 6.23 acres

Map of Rt. 50 - Ocean Gateway, Salisbury, MD, 21804

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.