2020 Northwood Dr, Salisbury, MD 21801

Listing Agency: Rinnier Development Company Show Phone

Listed By: Matthew Trader · License #631428 Show Phone

Source: Moodyscre

Added: Feb 5, 2025 Changed: Nov 5 Last Checked: Nov 8 at 8:16AM

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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 Rinnier Development Company

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This NNN warehouse property totals 20,000 SF on 3.2 acres and is offered For Sale with listed annual NOI of $120,000. The lease is structured as NNN-No Landlord Responsibilities, placing the operating responsibility on the tenant under the terms shown.

The seller’s rent escalations call for a 10% increase every five years. Additional terms and full lease details are not provided in the information supplied.

Overall, the offering is presented as an income-focused NNN warehouse with acreage and building size already established for underwriting.

Key Highlights

• 20,000 SF NNN structured warehouse on 3.2 acres
• NOI: $120,000 (NNN)
• NNN lease structure with no landlord responsibilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$129,234

Cap Rate

6.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,584,680 $2.6M

Cap Rate 7%

$1,846,200 $1.8M

Cap Rate 9%

$1,435,933 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,000 SF

Gross rent

$168.0K $8.40/SF

− Vacancy

−$16.0K −$0.80/SF

EGI

$152.0K $7.60/SF

− OpEx

−$22.8K −$1.14/SF

NOI

$129.2K $6.46/SF

Area

Wicomico County, MD

Vacancy

9.50%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,584,680

Cap Rate 7%

$1,846,200

Cap Rate 9%

$1,435,933

Alternative Uses

Best Use

Warehouse

$1.85M

$1.62M – $2.15M (±1% cap)

NOI $129,234 @ 7.0% cap · market cap 6.49%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$7.00M

$6.12M – $8.16M (±1% cap)

NOI $489,731 @ 7.0% cap · market cap 24.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Toroid Corporation Industrial Manufacturer Inductive Tech LCC Electronics & Wireless Store

Suggested Use

Top Pick Real Estate Agency Law Firm Grocery & Convenience Store Pharmacy Kitchen & Bath Showroom Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

377

Businesses Nearby

Well-served

Demand for This Use

Explore this area 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

Market

Properties on Market for Warehouses in Salisbury

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• CubeSmart Self Storage — 2120 Windsor Dr, Salisbury, MD 21801
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Frequently Asked Questions

What type of property is this?

Warehouse - NNN structured warehouse sale with income tied to 10% rental increases every five years.

Where is this warehouse located?

The property is located at 2020 Northwood Dr Salisbury, MD.

What is the asking price?

The asking price for this property is $1,990,000.

What are key features of this property?

This property features: 20,000 SF NNN structured warehouse on 3.2 acres; NOI: $120,000 (NNN); NNN lease structure with no landlord responsibilities