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16 AC and Existing Buildings w/ Income 8 Industrial Properties Online Auction Sale Ridgely, MD
Investment Highlights
- Seven main buildings and outbuildings, totaling 128,704 square feet, with warehouses, a refrigerated building, manufacturing buildings, and an office.
- Buildings 5 and 6 are leased to Hanover Foods on a month-to-month basis for $22,000 with triple net (NNN) terms, minimizing landlord responsibilities.
- Excellent location for regional transport between the DMV and Delaware, with the ability to reach most Mid-Atlantic markets in two to four hours.
- Situated on an approximately 16-acre site across five parcels with ample parking and outside storage space, plus rare access to 8 megawatts of power.
- Zoned I-2, permitting uses such as warehousing, light manufacturing, fabrication, wholesale distribution, storage, packaging, and more.
- Caroline County’s economy is largely driven by the industrial sector, and about 33% of the county’s GDP in 2022 came from goods-producing industries.
Executive Summary
Explore this multifaceted opportunity providing immediate income with limitless potential to reposition the property for a broad range of concepts under I-2 zoning.
This portfolio comprises seven heavy industrial buildings, plus ancillary outbuildings, totaling 128,704 square feet, all on 16.13 acres across five parcels. The buildings include traditional warehouses, a refrigerated cold storage building, an office, and multiple manufacturing/production facilities, with paved parking areas and ample room for industrial outdoor storage (IOS). A major advantage of this site is its access to 8 megawatts of heavy power, capable of handling intensive operations from food production to high-volume logistics.
Buildings 5 and 6, totaling 32,602 square feet, are currently leased to Hanover Foods on a month-to-month basis. The tenant is on a triple net (NNN) lease at $22,000 per month, or $264,000 annually. This flexible lease allows buyers to be agile in repositioning the property and receive cash flow during value-add initiatives.
Located in Caroline County, this site is perfectly positioned to coalesce with the county’s primary industries. Manufacturing, logistics and distribution, and agribusiness form the backbone of the county’s economy. Goods-producing industries accounted for approximately a third of the county’s GDP in 2022, significantly higher than the Maryland average. The site is five minutes from MD 404, a crucial connector to the Baltimore-Washington corridor and the Chesapeake Bay region. Industrial destinations in Delaware, such as the Port of Wilmington and Dover Air Force Base, are also easily accessible. Caroline County is within approximately 100 miles of Baltimore, Washington, DC, and Philadelphia, and within approximately 200 miles of Richmond, Norfolk, and New York, providing regional accessibility without urban cost pressures.
Property tours are available by appointment only. Please contact the listing broker to schedule.
This portfolio comprises seven heavy industrial buildings, plus ancillary outbuildings, totaling 128,704 square feet, all on 16.13 acres across five parcels. The buildings include traditional warehouses, a refrigerated cold storage building, an office, and multiple manufacturing/production facilities, with paved parking areas and ample room for industrial outdoor storage (IOS). A major advantage of this site is its access to 8 megawatts of heavy power, capable of handling intensive operations from food production to high-volume logistics.
Buildings 5 and 6, totaling 32,602 square feet, are currently leased to Hanover Foods on a month-to-month basis. The tenant is on a triple net (NNN) lease at $22,000 per month, or $264,000 annually. This flexible lease allows buyers to be agile in repositioning the property and receive cash flow during value-add initiatives.
Located in Caroline County, this site is perfectly positioned to coalesce with the county’s primary industries. Manufacturing, logistics and distribution, and agribusiness form the backbone of the county’s economy. Goods-producing industries accounted for approximately a third of the county’s GDP in 2022, significantly higher than the Maryland average. The site is five minutes from MD 404, a crucial connector to the Baltimore-Washington corridor and the Chesapeake Bay region. Industrial destinations in Delaware, such as the Port of Wilmington and Dover Air Force Base, are also easily accessible. Caroline County is within approximately 100 miles of Baltimore, Washington, DC, and Philadelphia, and within approximately 200 miles of Richmond, Norfolk, and New York, providing regional accessibility without urban cost pressures.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
Taxes & Operating Expenses (Actual - 2026) Click Here to Access |
Annual (CAD) |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
-
|
| Total Expenses |
$99,999
|
| Net Operating Income |
-
|
Taxes & Operating Expenses (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
Property Facts
| Sale Condition | Auction Sale | Number of Properties | 8 |
| Type of Ownership | Fee Simple | Total Building Size | 128,704 SF |
| Sale Type | Investment | Total Land Area | 16.13 AC |
| Status | Active |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 8 |
| Total Building Size | 128,704 SF |
| Total Land Area | 16.13 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
|
Building 7
502 Factory Ave, Ridgely, MD 21660 |
Industrial | 28,495 SF | 1968 |
|
Building 1
502 Factory Ln, Ridgely, MD 21660 |
Industrial | 26,344 SF | 1968 |
|
Building 6
421 W Belle Rd, Ridgely, MD 21660 |
Industrial | 23,782 SF | 1979 |
|
Building 2
502 Factory Ln, Ridgely, MD 21660 |
Industrial | 13,320 SF | 1968 |
|
Building 4
502 Factory Ln, Ridgely, MD 21660 |
Industrial | 12,136 SF | 1968 |
|
Building 3
502 Factory Ln, Ridgely, MD 21660 |
Industrial | 11,592 SF | 1968 |
|
Building 5
502 Factory Ln, Ridgely, MD 21660 |
Industrial | 8,820 SF | 1968 |
|
Out Bldgs
502 Factory Ln, Ridgely, MD 21660 |
Industrial | 4,215 SF | 1968 |
Sale Advisors
Sale Advisors
Ted Kroos, Commercial Salesperson
Ted Kroos is a real estate agent with over 40 years of experience, licensed in Maryland, Virginia, and Washington, DC, where he is also a broker active in all three markets. With a background in construction and new home sales, Ted offers hands-on expertise and a comprehensive perspective in commercial real estate.
Specializing in industrial and retail properties, Ted is also experienced in multifamily, land, office, flex, and medical spaces. His client-first approach, rooted in the philosophy, “People don’t care how much you know until they know how much you care,” has earned him trust, repeat business, and referrals.
Ted thrives on helping clients achieve their goals by leveraging his extensive market knowledge and uncovering unique opportunities, including off-market deals.
Serving clients across the DMV region, Ted enjoys learning about new businesses and navigating complex transactions. Outside work, he stays active with golf, racquetball, and walking, and loves exploring new travel destinations, local and abroad.
Specializing in industrial and retail properties, Ted is also experienced in multifamily, land, office, flex, and medical spaces. His client-first approach, rooted in the philosophy, “People don’t care how much you know until they know how much you care,” has earned him trust, repeat business, and referrals.
Ted thrives on helping clients achieve their goals by leveraging his extensive market knowledge and uncovering unique opportunities, including off-market deals.
Serving clients across the DMV region, Ted enjoys learning about new businesses and navigating complex transactions. Outside work, he stays active with golf, racquetball, and walking, and loves exploring new travel destinations, local and abroad.
John Friend, Commercial Salesperson
John Friend is a seasoned entrepreneur and co-founder of Friend Commercial Real Estate. Growing up in Prince George's County, MD, he has built and operated numerous businesses over the years. For 20 years, John co-owned and assisted in expanding Friend Tire from one location to five before selling the company. He later worked at Vehicare for three years before officially entering the commercial real estate industry.
With over 48 years of real estate experience, John began his career at NAI Michael before founding Friend Commercial Real Estate in 2017. He specializes in industrial real estate but is also experienced in retail, office, land, medical, and multifamily properties.
John is motivated by the growth of Friend Commercial Real Estate and enjoys helping his agents and clients succeed. He takes pride in mentoring newer agents and is committed to fostering a team-oriented environment. His mission is to expand the company, support his team, and help clients achieve their business and personal goals.
Outside of work, John enjoys golf, car restoration, and painting. He serves clients in Maryland, DC, and Northern Virginia.
With over 48 years of real estate experience, John began his career at NAI Michael before founding Friend Commercial Real Estate in 2017. He specializes in industrial real estate but is also experienced in retail, office, land, medical, and multifamily properties.
John is motivated by the growth of Friend Commercial Real Estate and enjoys helping his agents and clients succeed. He takes pride in mentoring newer agents and is committed to fostering a team-oriented environment. His mission is to expand the company, support his team, and help clients achieve their business and personal goals.
Outside of work, John enjoys golf, car restoration, and painting. He serves clients in Maryland, DC, and Northern Virginia.
About the Auction Technology
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Auction Contact
Marlo Lashley
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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16 AC and Existing Buildings w/ Income
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