Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2203 Northwood Dr, Unit C1 Salisbury, MD 21801

    View on Map
    Sponsored
    For Lease
    $1,099 /Mo

    CommercialLease - SALISBURY, MD

    Type:Office
    Days on Market:
    167
    Last Refresh:
    Mar 28 at 9:06 am

    Property Features for 2203 Northwood Dr

    General Information

    Property type
    Other
    Property subtype
    Office
    Standard status
    Active
    Parking
    6
    Parking features
    Parking Lot

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1973
    Building materials
    Block

    We can help!

    Listing Contact
    Trent Spicer-Davis

    SVN/Miller Commercial Real Estate

    Listing agent Trent Maynard Spicer-Davis License #5021302

    Listing date Oct 13, 2025

    MLS# MDWC2020134

    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.

    Learn more

    Property Insight Report

    Overview

    Office Space For Rent

    Commercial office space is available for rent in Salisbury, Maryland. Located at 2203 NORTHWOOD DR UNIT C1, the property is situated in Wicomico County, with postal code 21801.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Peninsula Pressure Systems Landscaping RBS Auto Detailing ... Car Wash Delmarva Building Solutions Construction Company El Centenario Department Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5792254
    Latitude
    38.39911654

    Nearby Similar for Lease

    • $16 SF/Yr

      Class A Office Suite

      Well-appointed office suite in Salisbury's professional and medical corridor.
      1304 S Division St, Salisbury, MD 21804
      View Details
    • New
      $1,000 /Mo
      871 SF

      Attractive Office Space For Lease

      Second-floor office suite with private offices, kitchenette, and balcony.
      1323 Mount Hermon Rd, Salisbury, MD 21804
      View Details
    • $11 SF/Yr
      1,307 SF

      Retail Space in Salisbury, MD

      Inline retail space available in Salisbury, MD, high-traffic location.
      321 Tilghman Rd, Salisbury, MD 21804
      View Details
    • $850 /Mo
      261,360 SF

      Premium Office Space For Lease

      Well-located 1000 sq ft office space in Salisbury, MD.
      1325 Mount Hermon Rd, Salisbury, MD 21804
      View Details
    • $2,377 /Mo

      Office Space in Salisbury, MD

      2,387 SF office space available for lease in Salisbury.
      601 E Naylor Mill Rd, Salisbury, MD 21801
      View Details
    • $22 SF/Yr

      Retail Pad Site with Drive-Thru

      Retail space with drive-thru, build to suit, outdoor seating.
      Beaglin Park Dr, Salisbury, MD 21804
      View Details
    • $8 SF/Yr

      Nicely Finished Office Space Available

      2,691 SF office space with executive offices and elevator access.
      801 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $3,345 /Mo

      Professional Office Space Available

      Two adjacent professional office suites available for lease.
      801 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $1,000 /Mo
      1,307 SF

      Downtown Salisbury Office Space Available

      High-quality office space with historic charm and modern finishes.
      233 W Main St, Salisbury, MD 21801
      View Details
    • $2,650 /Mo
      12,197 SF

      Professional Office Space For Lease

      Centrally located office space in excellent condition for lease.
      910 Eastern Shore Dr, Salisbury, MD 21804
      View Details
    • $10 SF/Yr
      17,860 SF

      Route 13 Frontage Retail/Office Space

      Retail/Office space on Route 13 near Salisbury University.
      1516 S Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $12 SF/Yr
      353,707 SF

      Renovated Office Space Available Now

      Newly renovated office space available for lease in Salisbury, MD.
      224 Phillip Morris Dr, Salisbury, MD 21804
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for lease in Salisbury, Maryland.
    Where is this office units located?
    The property is located at 2203 Northwood Dr, Unit C1 Salisbury, MD.
    What is the lease rate?
    The lease rate is $1,099 /Mo.
    What are key features of this property?
    This property features: - Central air conditioning for year-round comfort; - Forced air heating; - Block construction
    (410) 543-2440
    Request Owner's contact information
    2203 Northwood Dr, Unit C1 Salisbury, MD 21801
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2203 Northwood Dr, Unit C1
    Salisbury, MD 21801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2203 Northwood Dr, Unit C1 Salisbury, MD 21801
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Trent Spicer-Davis
    Real Estate License ID: 5021302
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!