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    224 Phillip Morris Dr Salisbury, MD 21804

    For Sale
    $4,400,000

    Commercial Sale - SALISBURY, MD

    Type:Office
    Lot size:
    9.10 Acres
    Days on Market:
    56
    Last Refresh:
    Dec 14 at 4:06 pm

    Property Features for 224 Phillip Morris Dr

    General Information

    Property type
    Other
    Property subtype
    Office
    Standard status
    Active
    Parking
    204
    Parking features
    Parking Lot
    Lot size
    9.10 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    1980
    Building materials
    Combination

    SVN/Miller Commercial Real Estate (410) 543-2440 [email protected]

    Listing agent Andrew Ball (410) 543-2440 License #36569

    Listing date Oct 20, 2025

    Copyright © 2025 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.

    Overview

    Two-Story Building with Additional Land

    This well-maintained, two-story building offers 40,017 square feet of space and features 21 units. The property, renovated in 2024, is located on Maryland's Eastern Shore and is fully occupied by a mix of regional and national tenants. Zoned LBI, the offering includes approximately 3 acres of unimproved land with additional parking. Approximately half of the roofs have been redone in the last 18 months, and most HVAC systems have been replaced in the last two years. Approximately 83.83% of all expenses are passed through as a tenant's expense, with the remaining expenses being the owner's responsibility due to the gross leases. This property presents an income-generating opportunity for investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Passionate LightHouse of GOD Church The Spence Realty Group Real Estate Agency Dr. Kristen M ... Chiropractor Jennifer Funaioli-Sheehan Family Practice Physician Dr. Curtis Harris Oncologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.55639
    Latitude
    38.36715

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    FAQs

    What type of property is this?
    Office building - Two-story building with 21 units and additional land.
    Where is this office building located?
    The property is located at 224 Phillip Morris Dr Salisbury, MD.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: - Fully occupied, income-generating property with a mix of regional and national tenants.; - Listed under recently appraised value.; - Significant recent renovations completed in 2024, including HVAC systems and roofs.
    (410) 543-2440
    Request Owner's contact information
    224 Phillip Morris Dr Salisbury, MD 21804
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    Salisbury, MD 21804
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    Realmo Value Estimation

    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.

    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.

    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
    224 Phillip Morris Dr Salisbury, MD 21804
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