Turnkey Restaurant Building on
For Sale
$550,000
1509 SALISBURY Blvd, Salisbury, MD 21801
Freestanding 1,362 SF restaurant ready for immediate operation.
Property Size1,362 SF
Price / SF$403.82
Days on Market99
Property Features for 1509 SALISBURY Blvd
General Information
Standard status
Active
Size
1,362 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
NAI Coastal
(443) 935-2277
Listed By:
George Timothy Merritt · License ##0681070
(443) 935-2277
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 11:20AM
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 NAI Coastal
Investment Insights
Based on property information with market context.
The Dover Street Grill, previously known as Tastee Freeze, is available for purchase. This 1,362 square foot freestanding building is ready for immediate operation. The property benefits from high daily traffic exposure, with approximately 30,000 vehicles passing by daily. It serves demand drivers such as the industrial park, surrounding auto dealerships, and the Route 13 Business Corridor. The site provides 15 on-site parking spaces, offering quick access suitable for fast-casual or quick-service operations.
Key Highlights
- Turnkey restaurant ready for immediate operation.
- High traffic location with approximately 30,000 vehicles passing daily.
- Strong demand drivers from industrial park, auto dealerships, and Route 13 Business Corridor.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.7k | $24.00 |
| − Vacancy | −$1.5k | −$1.08 |
| EGI | $31.2k | $22.92 |
| − OpEx | −$7.8k | −$5.73 |
| NOI | $23.4k | $17.19 |
1,362 SF · lease $24.00/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$334.5K
$292.7K – $390.2K
NOI $23,413 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.4K
$416.9K – $555.9K
NOI $33,351 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
299k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 26%
Groceries 13%
Home Improvements & Furnishings 3%
ACME Markets
Groceries
39,679 visits/mo
0.3 miles
Cook Out
Dining
29,893 visits/mo
0.2 miles
Royal Farms
Shops & Services
23,021 visits/mo
0.1 miles
Wendy's
Dining
20,415 visits/mo
0.2 miles
Starbucks
Dining
18,845 visits/mo
0.2 miles
Demographics for 21801, MD
31,183
Population
12,140
Households
2.6
Avg Household Size
37
Median Age
34%
College-Educated
87%
High-School Grad
40.1 sq mi
ZIP Area
778
Density / Sq Mi
$67,140
Median Household Income
$36,290
Median Earnings
$1,058
Median Rent
$286,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding 1,362 SF restaurant ready for immediate operation.
Where is this drive through restaurant located?
The property is located at 1509 SALISBURY Blvd Salisbury, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Turnkey restaurant ready for immediate operation.; High traffic location with approximately 30,000 vehicles passing daily.; Strong demand drivers from industrial park, auto dealerships, and Route 13 Business Corridor.
