Warehouse/Office Space in Northwood
For Sale
Contact for pricing
2020-2040 Shipley Drive, Salisbury, MD 21801
13,400 SF warehouse/office unit available in July 2025.
Property Size13,400 SF
Price / SF$0.00
Days on Market343
Property Features for 2020-2040 Shipley Drive
General Information
Standard status
Active
Size
13,400 SF
Property subtype
Industrial
Lease Term
NNN
Building Details
Building Size
13,400 SF
Year Built
2006
Properties For Sale
at 2020-2040 Shipley Drive
2030 Shipley Dr, B1
Size
13,400 SF
Type
Warehouse/Distribution
Term
Negotiable
Listed By:
John McClellan, CCIM, SIOR
(410) 430-9964
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 26
Last Checked: Oct 28 at 4:54AM
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 John McClellan, CCIM, SIOR
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Investment Insights
Based on property information with market context.
Located in the Northwood Industrial Park on Shipley Drive, this 13,400 square foot unit in the Kraus Business Center offers a blend of office and warehouse space. Approximately 5,000 square feet is dedicated to office space, featuring a reception area, conference room, break room, and six offices. The remaining 8,400 square feet comprises a heated warehouse with 18-foot ceiling heights and a full sprinkler system. The unit includes five 12-foot grade-level doors, with one door opening onto a dock-high court. This turnkey suite is suitable for warehouse and distribution users seeking a convenient location central to town with great access to regional highways. The space will be available approximately in July 2025. The landlord may consider subdividing for credit, long-term tenants. NNN estimates are $1.75 per square foot.
Key Highlights
- 13,400 SF Office/Warehouse Unit in Desirable Northwood Industrial Park
- Convenient Central Salisbury Location with Great Access to Regional Highways
- Turn‑Key Condition, Ready for Immediate Occupancy (July 2025)**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,978
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,560
$1.5M
Cap Rate 7%
$1,085,400
$1.1M
Cap Rate 9%
$844,200
$844.2K
Market Conditions
NOI Build-Up for 13,400 SF
Gross rent
$120.6K $9.00/SF
− Vacancy
−$12.1K −$0.90/SF
EGI
$108.5K $8.10/SF
− OpEx
−$32.6K −$2.43/SF
NOI
$76.0K $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%
$1,519,560
Cap Rate 7%
$1,085,400
Cap Rate 9%
$844,200
Alternative Uses
Best Use
Office B
$3.66M
$3.20M – $4.26M
NOI $255,865 @ 7.0% cap · market cap 3,218,427.67%
Second Best
Warehouse
$1.24M
$1.08M – $1.44M
NOI $86,587 @ 7.0% cap · market cap 1,089,144.65%
Theoretical Best
Office A
$4.69M
$4.10M – $5.47M
NOI $328,119 @ 7.0% cap · market cap 4,127,283.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - 13,400 SF warehouse/office unit available in July 2025.
Where is this warehouse located?
The property is located at 2020-2040 Shipley Drive Salisbury, MD.
What are key features of this property?
This property features: 13,400 SF Office/Warehouse Unit in Desirable Northwood Industrial Park; Convenient Central Salisbury Location with Great Access to Regional Highways; Turn‑Key Condition, Ready for Immediate Occupancy (July 2025)**
