Turnkey Medical Office
For Sale
Contact for pricing
1324 Belmont Ave, Salisbury, MD 21804
Fully leased office suite in a professional park with private offices, conference room, and multiple entrances.
Property Size2,360 SF
Price / SF$190.68
Days on Market76
Property Features for 1324 Belmont Ave
General Information
Standard status
Active
Size
2,360 SF
Property subtype
OFFICE
Occupancy
100%
Listing Agency:
SVN - Miller | Easton
(443) 390-2600
Listed By:
Trent Spicer-Davis · License #5021302
(302) 745-7920
Source:
Moodyscre
Added: Jul 10
Changed: Sep 12
Last Checked: Sep 22 at 9:01PM
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 | Easton
Investment Insights
Based on property information with market context.
Located within the well-maintained East Park Professional Park, this fully leased office suite is offered as a turnkey investment. The space includes multiple private offices, a large conference room, and an open workspace intended for collaborative use. Three separate entrances/exits support convenient in-and-out access, and the suite is currently being remodeled.
The suite is leased to Chesapeake Hearing Centers on a new five-year term, with rent commencing June 2026. The landlord and tenant relationship is in place, providing ongoing occupancy through the term.
Designed to accommodate medical or professional office users, the layout offers both private meeting space and an open area for day-to-day operations.
The suite is leased to Chesapeake Hearing Centers on a new five-year term, with rent commencing June 2026. The landlord and tenant relationship is in place, providing ongoing occupancy through the term.
Designed to accommodate medical or professional office users, the layout offers both private meeting space and an open area for day-to-day operations.
Key Highlights
- Fully leased office suite in East Park Professional Park to Chesapeake Hearing Centers
- New five‑year lease term; rent commencement June 2026
- Suite includes multiple private offices, a large conference room, and an open collaborative workspace
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,223
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,460
$624.5K
Cap Rate 7%
$446,043
$446.0K
Cap Rate 9%
$346,922
$346.9K
Market Conditions
NOI Build-Up for 2,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.5K $25.20/SF
− Vacancy
−$7.4K −$3.15/SF
EGI
$52.0K $22.05/SF
− OpEx
−$20.8K −$8.82/SF
NOI
$31.2K $13.23/SF
Area
Wicomico County, MD
Vacancy
12.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,460
Cap Rate 7%
$446,043
Cap Rate 9%
$346,922
Alternative Uses
Best Use
Office B
$643.8K
$563.3K – $751.1K
NOI $45,063 @ 7.0% cap · market cap 10.01%
Second Best
Healthcare Medical
$446.0K
$390.3K – $520.4K
NOI $31,223 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$825.5K
$722.4K – $963.1K
NOI $57,788 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
566
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased office suite in a professional park with private offices, conference room, and multiple entrances.
Where is this medical office space located?
The property is located at 1324 Belmont Ave Salisbury, MD.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully leased office suite in East Park Professional Park to Chesapeake Hearing Centers; New five‑year lease term; rent commencement June 2026; Suite includes multiple private offices, a large conference room, and an open collaborative workspace
