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Listed by Andrew Ball • SVN/Miller Commercial Real Estate
$4,400,000
Est. payment /mo
9.1 Acres Lot
Active
224 PHILLIP MORRIS DR Salisbury, MD 21804
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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDWC2018130
Year Built 1980
Annual Tax Amount $50,987
Tax Year 2025
Lot Size 9.100 Acres
Acres 9.1
Property Sub-Type Office
Source BRIGHT
Property Description
Explore an exceptional investment opportunity with this well maintained 40,017 SF, two-story building featuring 21 units. Renovated in 2024, the property boasts a prime location on Maryland's Eastern Shore and is fully occupied with a mix of regional and national tenants. Zoned LBI, this offering includes an additional +/- 3 Acres of unimproved land with extra parking. Listed under the recently appraised value, and with substantial recent updates including HVAC systems and roofs, this property presents a compelling value proposition. With approximately 83.83% of all expenses being passed through as a tenant's expense, the remaining expense would be owner's expense due to the gross leases. This property offers a solid and attractive income-generating opportunity for investors.
- Listed under the recently appraised value!
- 40,017 SF 2 story of unimproved land with additional parking in the rear.
- Approximately 1/2 of the roofs have been redone in the last 18 months and most HVAC systems replaced in the last two years.
- 83.83% of all expenses are passed through as a tenant's expense.
- Listed under the recently appraised value!
- 40,017 SF 2 story of unimproved land with additional parking in the rear.
- Approximately 1/2 of the roofs have been redone in the last 18 months and most HVAC systems replaced in the last two years.
- 83.83% of all expenses are passed through as a tenant's expense.
Location
State MD
County Wicomico
Area Wicomico Southeast (23-04)
Zoning LBI
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Heat Pump(s)
Heat Source Electric
Exterior
Garage Spaces 204.0
Water Access N
Accessibility 32\"+ wide Doors, 36\"+ wide Halls
Total Parking Spaces 204
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 2305108446
Ownership Fee Simple
Special Listing Condition Standard
Nearby Locations
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