Medical Office Condo Corner
106 MILFORD Street Salisbury, MD 21804
106 MILFORD Street, Salisbury, MD, 21804
$199,900
For Sale
$199,900
Commercial Sale - SALISBURY, MD
Property Size1,125 SF
Price / SF$177.69
Days on Market287
Property Features for 106 MILFORD Street
General Information
- Property type
- Other
- Property subtype
- Office
- Parking
- 50
- Parking features
- Special Needs, Parking Lot
- Standard status
- Active
Taxes and HOA fees
- Tax Annual Amount
- 2353
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Heat Pump
Building Details
- Number of units
- 1
- Building materials
- Brick
Listing agency
SVN/Miller Commercial Real Estate
(410) 543-2440
Listed by
Florence Brotzman · License #597618
(410) 543-2419
Added: Oct 10, 2025 Updated: Jul 9 at 10:41AM Checked: Jul 23 at 4:06AM
MLS# MDWC2019796
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,125 sq. ft. medical/professional office condo is located within The Milford Professional Center and is offered for sale. The unit is in nice condition and configured as a corner space with a front large open area divided by a service counter, along with a private office and restroom toward the back. A side drive-up window supports patient access, and the unit includes signage over the front door plus visibility from the complex sign in front of the suite. Private rear parking is available.
The Milford Professional Center is an established, well landscaped professional environment with physicians, lab, and other professional users. The property is located about 2 miles from Tidal Health and approximately 1 mile from Salisbury University.
Please note that the space cannot be leased as a pharmacy.
The Milford Professional Center is an established, well landscaped professional environment with physicians, lab, and other professional users. The property is located about 2 miles from Tidal Health and approximately 1 mile from Salisbury University.
Please note that the space cannot be leased as a pharmacy.
Key Highlights
- 1,125 SF medical/professional office condo in The Milford Professional Center
- Corner unit with side drive‑up window and private rear parking
- Front large open area with service counter, plus private office and restroom at the back
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.4k | $25.20 |
| − Vacancy | −$3.5k | −$3.15 |
| EGI | $24.8k | $22.05 |
| − OpEx | −$9.9k | −$8.82 |
| NOI | $14.9k | $13.23 |
1,125 SF · lease $25.20/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$306.9K
$268.5K – $358.0K
NOI $21,481 @ 7.0% cap · market cap 10.75%
Second Best
Healthcare Medical
$212.6K
$186.1K – $248.1K
NOI $14,884 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$393.5K
$344.3K – $459.1K
NOI $27,547 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
J.A. McLaughlin, Dmd, ...
Dental Office
Twilly Judy
Dental Office
Morgan III Russ ...
Dental Office
Dyer Dental
Dental Office
Weirick Sharon
Dental Office
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FAQs
What type of property is this?
Medical Office Space - 1,125 sq. ft. medical/professional office condo with a front open area, private back office and restroom, plus private rear parking.
Where is this medical office space located?
The property is located at 106 MILFORD Street Salisbury, MD.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,125 SF medical/professional office condo in The Milford Professional Center; Corner unit with side drive‑up window and private rear parking; Front large open area with service counter, plus private office and restroom at the back