Flex Space with Warehouse
New
For Sale
Contact for pricing
1305 S DIVISION STREET #A, Salisbury, MD 21804
The planned suite pairs equipment-storage capacity with a separate office and work area.
Property Size44,733 SF
Price / SF$0.00
Days on Market4
Property Features for 1305 S DIVISION STREET #A
General Information
Standard status
Active
Size
44,733 SF
Property subtype
Commercial
Additional Details
Property Use
Warehouse
Building Details
Year Built
1953
Listing Agency:
Keller Williams Realty Delmarva
(410) 677-0909
Listed By:
Tonney Insley IV · License #RS-0037858
(410) 844-4160
Source:
Cummingsrealtors
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 3:34PM
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 Keller Williams Realty Delmarva
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Proposed Suite A is a ground-floor flex space of approximately 1,400 SF, planned for the left side of the building. Its layout includes an extended garage or warehouse bay, an adjoining office and work area, and a dedicated entrance at the front. The building was constructed in 1953.
Key Highlights
- Proposed left‑side Suite A offers approximately 1,400 SF on the ground floor
- Long garage/warehouse bay adjoins an office and work area
- Dedicated front entrance; building dates to 1953
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,636
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,072,720
$5.1M
Cap Rate 7%
$3,623,371
$3.6M
Cap Rate 9%
$2,818,178
$2.8M
Market Conditions
NOI Build-Up for 44,733 SF
Gross rent
$402.6K $9.00/SF
− Vacancy
−$40.3K −$0.90/SF
EGI
$362.3K $8.10/SF
− OpEx
−$108.7K −$2.43/SF
NOI
$253.6K $5.67/SF
Area
Wicomico County, MD
Vacancy
10.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,072,720
Cap Rate 7%
$3,623,371
Cap Rate 9%
$2,818,178
Alternative Uses
Best Use
Flex RnD
$5.38M
$4.71M – $6.28M
NOI $376,831 @ 7.0% cap · market cap 4,710,387.50%
Second Best
Warehouse
$4.13M
$3.61M – $4.82M
NOI $289,051 @ 7.0% cap · market cap 3,613,137.50%
Theoretical Best
Office A
$15.65M
$13.69M – $18.26M
NOI $1,095,356 @ 7.0% cap · market cap 13,691,950.00%
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
781
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 Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - The planned suite pairs equipment-storage capacity with a separate office and work area.
Where is this flex space located?
The property is located at 1305 S DIVISION STREET #A Salisbury, MD.
What are key features of this property?
This property features: Proposed left‑side Suite A offers approximately 1,400 SF on the ground floor; Long garage/warehouse bay adjoins an office and work area; Dedicated front entrance; building dates to 1953
