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Turnkey Freestanding Restaurant Building

1515 N Salisbury Blvd Salisbury, MD 21804

1515 N Salisbury Blvd, Salisbury, MD, 21804
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For Sale
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Turnkey freestanding restaurant with 15 on-site parking spaces and strong daily traffic exposure for quick-service operations.

Property Size1,363 SF
Price / SF$403.52
Days on Market51

Property Features for 1515 N Salisbury Blvd

General Information

Standard status
Active
Size
1,363 SF
Property subtype
Retail, Hospitality
Listing agency NAI Coastal - Salisbury
Listed by George Merritt · License #MD 0681070
Source Crexi
Added: Jun 2 Updated: Jul 10 at 1:53PM Checked: Jul 21 at 9:39AM

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 - Salisbury


Investment Insights

Based on property information with market context.

The Dover Street Grill (formerly Tastee Freeze) is a freestanding restaurant building offered for new ownership. The property is delivered turnkey and is set up to begin serving customers immediately. The building size is approximately 1,362 square feet and includes on-site infrastructure suitable for restaurant operations.

The site is positioned on a high-exposure corridor with approximately 30,000 vehicles passing by each day. Nearby demand is supported by an industrial park, surrounding auto dealerships, and the Route 13 Business Corridor. The property also offers convenient, quick access for patrons.

With 15 on-site parking spaces, this location is well suited to fast-casual or quick-service concepts that benefit from straightforward site access and customer convenience. For buyers and operators, the turnkey presentation helps reduce the time needed to open, while the strong daily traffic exposure supports ongoing customer access.

Key Highlights

  • 1,362 SF freestanding restaurant building formerly known as Tastee Freeze, Dover Street Grill
  • Turnkey operation ready to begin serving customers immediately (per listing remarks)
  • Approximately 30,000 vehicles pass by daily, supporting strong daily visibility

Local 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
1,363 SF · lease $24.00/SF/yr · vacancy 4.50% · expense 25.00%

Alternative Uses

Best Use
Specialty Retail
$334.7K
$292.9K – $390.5K (±1% cap)
NOI $23,430 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.8K
$417.2K – $556.3K (±1% cap)
NOI $33,375 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

Law Firm Parking Lot & Garage (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Furniture & Home Goods Cafe & Coffee Shop Bakery Home Appliance Store Veterinary Clinic Pharmacy

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

FAQs

What type of property is this?
Conventional restaurant - Turnkey freestanding restaurant with 15 on-site parking spaces and strong daily traffic exposure for quick-service operations.
Where is this conventional restaurant located?
The property is located at 1515 N 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: 1,362 SF freestanding restaurant building formerly known as Tastee Freeze, Dover Street Grill; Turnkey operation ready to begin serving customers immediately (per listing remarks); Approximately 30,000 vehicles pass by daily, supporting strong daily visibility
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