Medical Office Condo Corner
For Sale
$199,900
106 Milford Street Unit 401, Salisbury, MD 21804
Corner medical office condo with private parking and a front open area for professional services.
Property Size1,125 SF
Price / SF$177.69
Days on Market347
Property Features for 106 Milford Street Unit 401
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Office
Listing Agency:
SVN
(410) 543-2419
Listed By:
Florence Brotzman · License #597618
(410) 543-2419
Source:
Xome
Added: Aug 22, 2025
Changed: Jul 10
Last Checked: Jun 14 at 2:08AM
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
Investment Insights
Based on property information with market context.
This 1,125-square-foot medical/professional office condo in The Milford Professional Center is offered in nice condition. The unit features a large front open area that is separated by a service counter, along with a private office and restroom toward the back. The space includes signage over the front door, and the complex sign is positioned directly in front of the unit.
The property is located at the front of the center, with a corner configuration that provides a side drive-up window and private rear parking. Access is supported by the side drive-up component and rear parking area, making it convenient for patient or client arrivals.
The interior layout is well-suited for medical and other professional uses seeking a reception-forward work area and separate back-of-office space. The center includes physicians, lab, and other professional users; however, the unit cannot be leased as a pharmacy. Available either for sale or lease.
The property is located at the front of the center, with a corner configuration that provides a side drive-up window and private rear parking. Access is supported by the side drive-up component and rear parking area, making it convenient for patient or client arrivals.
The interior layout is well-suited for medical and other professional uses seeking a reception-forward work area and separate back-of-office space. The center includes physicians, lab, and other professional users; however, the unit cannot be leased as a pharmacy. Available either for sale or lease.
Key Highlights
- 1,125 SF medical/professional office condo in The Milford Professional Center
- Corner condo unit with a side drive‑up window and private rear parking
- Front large open area with a back service counter, private office, and restroom
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
813
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Corner medical office condo with private parking and a front open area for professional services.
Where is this medical office space located?
The property is located at 106 Milford Street Unit 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 SF medical/professional office condo in The Milford Professional Center; Corner condo unit with a side drive‑up window and private rear parking; Front large open area with a back service counter, private office, and restroom
