Class A Office
1003 Mount Hermon Rd, Salisbury, MD
For Sale
Contact for pricing
Income-producing Class A office space with easy highway access.
Property Size8,500 SF
Lot Size0.86 Acres
Price / SF$247.06
Days on Market629
Property Features for 1003 Mount Hermon Rd
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
NAI Coastal
(410) 543-5115
Listed By:
Chelsye Phillips-Hutton · License #5007104
(443) 513-0682
Source:
Moodyscre
Added: Feb 17, 2025
Changed: Nov 3
Last Checked: Nov 6 at 10:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Coastal
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an income-producing Class A professional office space situated on Mount Hermon Road, offering immediate accessibility to Route 50. The property encompasses a total area of 8,500 square feet.
Key Highlights
- Income producing property
- Class A professional space
- Located on Mount Hermon Rd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,302
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,246,040
$3.2M
Cap Rate 7%
$2,318,600
$2.3M
Cap Rate 9%
$1,803,356
$1.8M
Market Conditions
NOI Build-Up for 8,500 SF
Gross rent
$277.4K $32.64/SF
− Vacancy
−$61.0K −$7.18/SF
EGI
$216.4K $25.46/SF
− OpEx
−$54.1K −$6.36/SF
NOI
$162.3K $19.09/SF
Area
Wicomico County, MD
Vacancy
22.00%
Lease Rate
$32.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,246,040
Cap Rate 7%
$2,318,600
Cap Rate 9%
$1,803,356
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.71M
NOI $162,302 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,135 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Salisbury, MD
Properties on Market for Office Units in Salisbury
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Income-producing Class A office space with easy highway access.
Where is this office unit located?
The property is located at 1003 Mount Hermon Rd Salisbury, MD.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Income producing property; Class A professional space; Located on Mount Hermon Rd
