Salisbury Car Wash &
For Sale
$2,795,000
1108 Parsons Rd, Salisbury, MD 21801
Income-producing car wash and mini-storage facility in Salisbury, MD.
Property Size13,600 SF
Price / SF$205.51
Days on Market209
Property Features for 1108 Parsons Rd
General Information
Standard status
Active
Size
13,600 SF
Building Details
Year Built
2005
Listing Agency:
Rinnier Development Co
Listed By:
William Rinnier · License #514904
(410) 742-8151
Source:
Kandorre
Added: Mar 11
Changed: Sep 29
Last Checked: Oct 4 at 12:56PM
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 Rinnier Development Co
Investment Insights
Based on property information with market context.
The Salisbury Car Wash and Mini-Storage is an income-producing property located on Parsons Rd in Salisbury, MD. It is easily accessible from traffic in West Salisbury neighborhoods. The car wash features 2 automatic washes, 4 self-serve washes, and 8 vacuum stations. The attached mini-storage facility contains 107 units, ranging in size from 5'x10' to 10"x30". The average monthly rental rate is $130. Increasing rental rates to market value is estimated to provide an upside of +$26,000 annually.
Key Highlights
- Income‑producing property featuring both a car wash and mini‑storage businesses.
- Car wash with 2 automatic washes, 4 self‑serve washes, and 8 vacuum stations.
- Mini‑storage facility offers 107 units ranging from 5'x10' to 10'x30'.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$233,784
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,675,680
$4.7M
Cap Rate 7%
$3,339,771
$3.3M
Cap Rate 9%
$2,597,600
$2.6M
Market Conditions
NOI Build-Up for 13,600 SF
Gross rent
$326.4K $24.00/SF
− Vacancy
−$14.7K −$1.08/SF
EGI
$311.7K $22.92/SF
− OpEx
−$77.9K −$5.73/SF
NOI
$233.8K $17.19/SF
Area
Wicomico County, MD
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,675,680
Cap Rate 7%
$3,339,771
Cap Rate 9%
$2,597,600
Alternative Uses
Best Use
Retail
$4.09M
$3.58M – $4.78M
NOI $286,637 @ 7.0% cap · market cap 10.26%
Second Best
Specialty Retail
$3.34M
$2.92M – $3.90M
NOI $233,784 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $333,017 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 21801, MD
31,183
Population
12,140
Households
2.6
Avg Household Size
37
Median Age
34%
College-Educated
87%
High-School Grad
40.1 sq mi
ZIP Area
778
Density / Sq Mi
$67,140
Median Household Income
$36,290
Median Earnings
$1,058
Median Rent
$286,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Car wash - Income-producing car wash and mini-storage facility in Salisbury, MD.
Where is this car wash located?
The property is located at 1108 Parsons Rd Salisbury, MD.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Income‑producing property featuring both a car wash and mini‑storage businesses.; Car wash with **2 automatic washes, 4 self‑serve washes, and 8 vacuum stations**.; Mini‑storage facility offers **107 units** ranging from 5'x10' to 10'x30'.
