Corner Medical Office
For Sale
$199,900
106 MILFORD ST #401 401, Salisbury, MD 21804
Front-positioned office suite includes a service counter, private office, restroom, drive-up window, and rear parking.
Property Size1,125 SF
Price / SF$177.69
Days on Market102
Property Features for 106 MILFORD ST #401 401
General Information
Standard status
Active
Size
1,125 SF
Additional Details
Asking Price
$199,900
Listing Agency:
SVN/Miller Commercial Real Estate
(410) 543-2440
Listed By:
Florence Brotzman · License #597618
(410) 543-2419
Source:
Cathyshometeam
Added: Jul 10
Changed: Oct 3
Last Checked: Oct 16 at 9:04AM
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 SVN/Miller Commercial Real Estate
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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 1,125-square-foot medical office condominium occupies a corner position at the front of The Milford Professional Center. The interior includes a large reception or work area, service counter, private office, and restroom. A side drive-up window and dedicated rear parking add practical functionality for daily operations. Signage is available above the entrance, with the center’s monument sign positioned directly in front of the unit.
The professionally landscaped complex includes physicians, a lab, and other professional occupants. The property is located 2 miles from Tidal Health and 1 mile from Salisbury University. Use as a pharmacy is not permitted.
The professionally landscaped complex includes physicians, a lab, and other professional occupants. The property is located 2 miles from Tidal Health and 1 mile from Salisbury University. Use as a pharmacy is not permitted.
Key Highlights
- 1,125‑square‑foot medical office condominium at The Milford Professional Center
- Corner unit positioned at the front of the professional center
- Side drive‑up window and private rear parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,884
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,680
$297.7K
Cap Rate 7%
$212,629
$212.6K
Cap Rate 9%
$165,378
$165.4K
Market Conditions
NOI Build-Up for 1,125 SF
Gross rent
$28.4K $25.20/SF
− Vacancy
−$3.5K −$3.15/SF
EGI
$24.8K $22.05/SF
− OpEx
−$9.9K −$8.82/SF
NOI
$14.9K $13.23/SF
Area
Wicomico County, MD
Vacancy
12.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,680
Cap Rate 7%
$212,629
Cap Rate 9%
$165,378
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21804, MD
40,049
Population
16,736
Households
2.4
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
68.6 sq mi
ZIP Area
584
Density / Sq Mi
$68,882
Median Household Income
$35,902
Median Earnings
$1,343
Median Rent
$230,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Wicomico Veterinary Hospital — 207 Executive Plz, Salisbury, MD 21804
Frequently Asked Questions
What type of property is this?
Medical Office Space - Front-positioned office suite includes a service counter, private office, restroom, drive-up window, and rear parking.
Where is this medical office space located?
The property is located at 106 MILFORD ST #401 401 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‑square‑foot medical office condominium at The Milford Professional Center; Corner unit positioned at the front of the professional center; Side drive‑up window and private rear parking
