Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    226-234 Florida Ave Salisbury, MD

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available near PRMC and Salisbury University.

    Type:OFFICE
    Property size:
    5,025 SF
    Lot size:
    0.32 Acres
    Added:
    Oct 25, 2022
    Days on Market:
    1256
    Last Refresh:
    Mar 29 at 10:55 pm

    Property Features for 226-234 Florida Ave

    General Information

    Standard status
    Active
    Size
    5,025 SF
    Lot size
    0.32 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 226-234 Florida Ave Contact us

    We can help!

    Listing Contact
    Andrew
    Andrew "Andy" Ball

    Listing agent Andrew "Andy" Ball License ##36569

    Listing office SVN - Miller | Salisbury

    Listing date Oct 25, 2022

    Source Moodyscre

    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 | Salisbury

    Overview

    Office Space Near Salisbury University

    This office space, located between PRMC and Salisbury University and only blocks from Rt. 13, offers a minimum lease term of one year. The property provides an opportunity for tenants to customize the space to suit their specific needs, with potential free rent available to facilitate the build-out process. The property size is 5025 square feet.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.603
    Latitude
    38.3573

    Nearby Similar for Lease

    • Contact for pricing

      Attractive Office Space For Lease

      Second-floor office suite with private offices, kitchenette, and balcony.
      1323 MOUNT HERMON Road unit: B2, SALISBURY, MD 21804
      View Details
    • Contact for pricing

      Premium Office Space For Lease

      Well-located 1000 sq ft office space in Salisbury, MD.
      1325 MOUNT HERMON Road unit: B13, SALISBURY, MD 21804
      View Details
    • $16/mo

      Class A Office Suite

      Well-appointed office suite in Salisbury's professional and medical corridor.
      1304 S DIVISION Street unit: 2, SALISBURY, MD 21804
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Centrally located office space in excellent condition for lease.
      910 EASTERN SHORE Drive, SALISBURY, MD 21804
      View Details
    • Contact for pricing

      Riverside Drive Commercial Space Available

      800 SF space with drive-thru, suitable for office/retail.
      541 RIVERSIDE Drive, SALISBURY, MD 21801
      View Details
    • $12/mo

      Renovated Office Space Available Now

      Newly renovated office space available for lease in Salisbury, MD.
      224 PHILLIP MORRIS Drive unit: 105A, SALISBURY, MD 21804
      View Details
    • Contact for pricing

      Office Space in Salisbury, MD

      2,387 SF office space available for lease in Salisbury.
      601 E NAYLOR MILL Road unit: D, SALISBURY, MD 21801
      View Details
    • $14/mo

      Retail Space in Salisbury Plaza

      Retail space for lease in North Salisbury Plaza.
      901 N SALISBURY Boulevard unit: D, SALISBURY, MD 21801
      View Details
    • Contact for pricing

      Professional Office Space Available

      Two adjacent professional office suites available for lease.
      801 N SALISBURY Boulevard unit: 203/204, SALISBURY, MD 21801
      View Details
    • Contact for pricing

      Downtown Salisbury Office Space Available

      High-quality office space with historic charm and modern finishes.
      233 W MAIN Street, SALISBURY, MD 21801
      View Details
    • $28/mo

      Restaurant Space on Route 13

      Former restaurant space with high traffic and existing equipment.
      109-B HAMPSHIRE Road, SALISBURY, MD 21801
      View Details
    • $12/mo

      Renovated Suite in Salisbury Center

      Refreshed suite in Acme-anchored shopping center with high visibility.
      809 S SALISBURY Boulevard unit: 809, SALISBURY, MD 21801
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available near PRMC and Salisbury University.
    Where is this office units located?
    The property is located at 226-234 Florida Ave Salisbury, MD.
    What is the lease rate?
    The lease rate is $2,300 /Mo.
    What are key features of this property?
    This property features: Located between PRMC and Salisbury University; Blocks from Rt. 13; Potential free rent available
    (410) 422-3672 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Andrew
    Andrew "Andy" Ball
    Real Estate License ID: #36569
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!