MD > Salisbury
Salisbury, MD 21804,224 PHILLIP MORRIS DR
Salisbury, MD 21804,224 PHILLIP MORRIS DR
Salisbury, MD 21804,224 PHILLIP MORRIS DR
Salisbury, MD 21804,224 PHILLIP MORRIS DR
Salisbury, MD 21804,224 PHILLIP MORRIS DR
Salisbury, MD 21804,224 PHILLIP MORRIS DR
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Brian Foraker

Brian Foraker

+1(302) 420-4616
Listed by Andrew Ball • SVN/Miller Commercial Real Estate
$ 4,650,000
Est. payment | /mo

40,017 SqFt

Save
$ 4,650,000
Est. payment | /mo
Save

40,017 SqFt

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

Square Footage 40,017 sqft

Price per Sqft $116

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.

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

SqFt Source Estimated

Special Listing Condition Standard

Bright MLS (BMLS)
advisor-avatar

+1(302) 420-4616

brian@forakersales.com

135 E State St, United States

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224 PHILLIP MORRIS DR

 
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