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
$4,400,000
Est. payment /mo
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9.1 Acres Lot
Active

224 PHILLIP MORRIS DR Salisbury, MD 21804

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Joseph Resciniti

Joseph Resciniti

+1(732) 547-1572

UPDATED:

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.

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

Bright MLS (BMLS)
Nearby Locations
SCHOOLSPROPERTIES
Elementary Schools 9
  • 7

    North Salisbury Elementary School

    Public | 3 - 5

  • 4

    Prince Street School

    Public | PK - 5

  • 4

    East Salisbury Elementary School

    Public | 3 - 5

  • 3

    Glen Avenue School

    Public | 3 - 5

  • 0

    Wicomico Day School

    Private | PK - 8

  • 0

    Salisbury Christian School

    Private | PK - 12

  • 0

    The Salisbury School

    Private | PK - KG

  • 0

    Salisbury Baptist Academy

    Private | KG - 12

  • 0

    Beaver Run School

    Public | PK - 2

Middle Schools 2
  • 6

    Bennett Middle School

    Public | 6 - 8

  • 5

    Wicomico Middle School

    Public | 6 - 8

High Schools 4
  • 5

    James M. Bennett High School

    Public | 9 - 12

  • 5

    Parkside High School

    Public | 9 - 12

  • 4

    Wicomico High School

    Public | 9 - 12

  • 0

    Wicomico County Evening High School

    Public | 9 - 12

School and business data provided by Attom Data.

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Joseph Resciniti

Joseph Resciniti

Broker Associate | NJ Lic#NJ-Lic#2183769*PA-Lic#AB069463

+1(732) 547-1572

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224 PHILLIP MORRIS DR