Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Salisbury Office Building For Rent Title is generated by Realmo AI

    400 Snow Hill Rd, Salisbury, MD 21804

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office building in Salisbury, MD, near medical and educational facilities.

    Type:Office
    Added:
    Dec 11, 2024
    Days on Market:
    517
    Last Refresh:
    Mar 23 at 8:05 pm

    Property Features for 400 Snow Hill Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    We can help!

    Listing Contact
    Dennis Lynch

    Listing agent Dennis Lynch License #PA RS352055

    Listing office KW Commercial

    Listing date Dec 11, 2024

    Source Crexi

    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 KW Commercial

    HighLights

    • NN Lease structure with Landlord Responsible for Roof, Structure, Property Taxes, Property Insurance.
    • Located 1 mile from Tidal Health Peninsula Regional Hospital and under 1 mile from Tidal Health Surgery Center.
    • Permitted uses include: medical center or clinic; office, daycare; school of special instruction.
    • Located in a three unit Professional Services and Office Campus.
    • Short distance to Salisbury Bypass 13 and Highway 50.
    • Under 5 minutes from Salisbury University.

    Overview

    This office building is situated within a three-unit professional services and office campus located in Salisbury, Wicomico County, on Maryland's Eastern Shore. Permitted uses for the property include a medical center or clinic, general office space, a daycare facility, and a school of special instruction. The tenant is responsible for obtaining all necessary permits and licenses from the City of Salisbury. The lease structure is NN, with the landlord responsible for the roof, structure, property taxes, and property insurance. The property is located approximately 1 mile from Tidal Health Peninsula Regional Hospital and less than 1 mile from the Tidal Health Surgery Center. It is also a short distance from Salisbury Bypass 13 and Highway 50, and under 5 minutes from Salisbury University. Regional attractions in the area include the Eastern Shore Baseball Hall of Fame, the Salisbury Zoo, and Nutters Crossing Golf Course, with the beach community of Ocean City, Maryland, located to the east.
    Location Intelligence

    Current Use by Public Records

    Heather’s Pet Spa Pet Grooming Service Justice Dog Training Animal Training

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.589731
    Latitude
    38.358835

    Nearby Similar for Lease

    • $1,000/Mo

      Attractive Office Suite For Lease

      Second floor office suite with private offices and amenities.
      1323 MOUNT HERMON Road, SALISBURY, MD 21804
      View Details
    • $1,200/Mo

      Renovated Office Space Available

      Newly renovated office space for lease in Salisbury, MD.
      224 PHILLIP MORRIS Drive, SALISBURY, MD 21804
      View Details
    • $1,500/Mo

      Turn-Key Office Suite Available

      Professional office suite ideal for medical, professional, or administrative use.
      543B RIVERSIDE Drive, SALISBURY, MD 21801
      View Details
    • $16 SF/Yr

      Class A Office Suite

      Well-appointed office suite in Salisbury's professional and medical corridor.
      1304 S DIVISION Street, SALISBURY, MD 21804
      View Details
    • $999/Mo

      Renovated Office Space Available

      Newly renovated office space for lease in Salisbury, Maryland.
      224 PHILLIP MORRIS Drive, SALISBURY, MD 21804
      View Details
    • $500/Mo

      Office Space For Lease

      Office space available for lease in Salisbury, Maryland.
      100 CLEMWOOD Street, SALISBURY, MD 21804
      View Details
    • $500/Mo

      Office Space For Lease

      Office space available for lease in Salisbury, MD.
      100 CLEMWOOD Street, SALISBURY, MD 21804
      View Details
    • $2,377/Mo

      Office Space in Salisbury, MD

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

      Retail Space in Salisbury Plaza

      Retail space for lease in North Salisbury Plaza.
      901 N SALISBURY Boulevard, SALISBURY, MD 21801
      View Details
    • $3,345/Mo

      Professional Office Space Available

      Two adjacent professional office suites available for lease.
      801 N SALISBURY Boulevard, SALISBURY, MD 21801
      View Details
    • $1,000/Mo

      Downtown Salisbury Office Space

      High-quality office space in downtown Salisbury with historic charm.
      233 W MAIN Street, SALISBURY, MD 21801
      View Details
    • $28 SF/Yr

      Restaurant Space on Route 13

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

    FAQs

    What type of property is this?
    Office building - Office building in Salisbury, MD, near medical and educational facilities.
    Where is this office building located?
    The property is located at 400 Snow Hill Rd Salisbury, MD.
    What are key features of this property?
    This property features: NN Lease structure with Landlord Responsible for Roof, Structure, Property Taxes, Property Insurance.; Located 1 mile from Tidal Health Peninsula Regional Hospital and under 1 mile from Tidal Health Surgery Center.; Permitted uses include: **medical center or clinic; office, daycare; school of special instruction.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dennis Lynch
    Real Estate License ID: PA RS352055
    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

    Thank You for Inquiry
    400 Snow Hill Rd, Salisbury, MD 21804
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!