Homes for sale - 224 PHILLIP MORRIS DR, Salisbury, MD 21804

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William Mercogliano III

themercteam@gmail.com +1(856) 472-9836

Listed by Andrew Ball • SVN/Miller Commercial Real Estate

$4,400,000

Est. payment - /mo

9.1 Acres Lot

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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

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Nearby School & Business

SCHOOLS PROPERTIES

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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William Mercogliano III

+1(856) 472-9836

Broker Associate | License ID: 0893537

Broker Associate License ID: 0893537

224 PHILLIP MORRIS DR Salisbury, MD 21804

William Mercogliano III

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

Get More Information