Flex Space with Warehouse
1305 S DIVISION STREET #B, Salisbury, MD 21804
For Sale
Contact for pricing
Ground-floor space combines private work areas with a separate garage bay for administrative and operational functions.
Property Size2,000 SF
Price / SF$0.00
Days on Market13
Property Features for 1305 S DIVISION STREET #B
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Stories
Listing Agency:
Keller Williams Realty Delmarva
(410) 677-0909
Listed By:
Tonney Insley IV · License #653457
(410) 844-4160
Source:
Cummingsrealtors
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 6:35AM
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.
Unit B is a proposed right-side flex suite with approximately 2,000 SF on the ground floor. The layout includes multiple office or work rooms, a separate garage/warehouse bay, and an individual entrance at the front of the building.
Built in 1953, the suite brings office and operational areas together within one commercial space.
Built in 1953, the suite brings office and operational areas together within one commercial space.
Key Highlights
- Approximately 2,000 SF of ground‑floor space
- Separate garage/warehouse bay
- Multiple office or work rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,340
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,800
$226.8K
Cap Rate 7%
$162,000
$162.0K
Cap Rate 9%
$126,000
$126.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$18.0K $9.00/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$16.2K $8.10/SF
− OpEx
−$4.9K −$2.43/SF
NOI
$11.3K $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%
$226,800
Cap Rate 7%
$162,000
Cap Rate 9%
$126,000
Alternative Uses
Best Use
Flex RnD
$240.7K
$210.6K – $280.8K
NOI $16,848 @ 7.0% cap · market cap 210,600.00%
Second Best
Warehouse
$184.6K
$161.5K – $215.4K
NOI $12,923 @ 7.0% cap · market cap 161,537.50%
Theoretical Best
Office A
$699.6K
$612.2K – $816.2K
NOI $48,973 @ 7.0% cap · market cap 612,162.50%
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 - Ground-floor space combines private work areas with a separate garage bay for administrative and operational functions.
Where is this flex space located?
The property is located at 1305 S DIVISION STREET #B Salisbury, MD.
What are key features of this property?
This property features: Approximately 2,000 SF of ground‑floor space; Separate garage/warehouse bay; Multiple office or work rooms
