MD > Salisbury
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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Listed by Andrew Ball • SVN/Miller Commercial Real Estate
$4,650,000
Est. payment /mo
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40,017 SqFt
New

224 PHILLIP MORRIS DR Salisbury, MD 21804

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Missy Miller Aldave

Missy Miller Aldave

The Miller Team at Northrop Realty

+1(410) 409-5147

UPDATED:

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)
agent
Missy Miller Aldave

Team Leader & Real Estate Agent | License ID: 507142

+1(410) 409-5147 | missy@millerteam.com

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224 PHILLIP MORRIS DR