Renovated Flex Space
2207 Northwood Drive, Salisbury, MD 21801
For Sale
Contact for pricing
Newly renovated flex space with recent upgrades and no triple net.
Property Size54,000 SF
Price / SF$0.04
Days on Market358
Property Features for 2207 Northwood Drive
General Information
Standard status
Size
Property subtype
Lease Term
Building Details
Building Size
Year Built
Properties For Sale
at 2207 Northwood Drive
A1-A2
Size
2,400 SF
Type
Flex Space
Term
Negotiable
Listing Agency:
SVN/Miller Commercial Real Estate
Listed By:
Wesley Cox, CCIM · License MD #574198
(410) 251-6408
Source:
Svnmiller
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: May 19 at 10:49PM
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 Commercial Real Estate
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Investment Insights
Based on property information with market context.
The Northwood Business Center has undergone recent renovations with over $900,000 in upgrades over the last three years. Originally, each building was divided into fifteen 1200 square foot units, each featuring approximately 15% office space, a restroom, and an overhead door. Some units have been combined to accommodate larger tenants. The currently available unit offers 1200 square feet. Recent improvements include two high-definition LED pylon signs for tenant use, a new parking lot with new paving, new exterior LED lighting, new entrance and exit doors, new heating units, fresh paint on all three buildings, and new overhead doors. The property is located off the corner of Northwood Drive and Marvel Road, approximately 1.8 miles from US Route 50, providing easy access.
Key Highlights
- No triple net fees
- Newly renovated with over $900,000 in upgrades in the last 3 years.
- New parking lot (new paving)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$306,180
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,123,600
$6.1M
Cap Rate 7%
$4,374,000
$4.4M
Cap Rate 9%
$3,402,000
$3.4M
Market Conditions
NOI Build-Up for 54,000 SF
Gross rent
$486.0K $9.00/SF
− Vacancy
−$48.6K −$0.90/SF
EGI
$437.4K $8.10/SF
− OpEx
−$131.2K −$2.43/SF
NOI
$306.2K $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%
$6,123,600
Cap Rate 7%
$4,374,000
Cap Rate 9%
$3,402,000
Alternative Uses
Best Use
Flex RnD
$6.50M
$5.69M – $7.58M
NOI $454,896 @ 7.0% cap
Second Best
Warehouse
$4.98M
$4.36M – $5.82M
NOI $348,932 @ 7.0% cap
Theoretical Best
Office A
$18.89M
$16.53M – $22.04M
NOI $1,322,273 @ 7.0% cap
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
Location Intelligence
Trade Area within ½ mile
452
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Firehouse Subs Maryland Square — 2412 B N Salisbury Blvd, Salisbury, MD 21801
Frequently Asked Questions
What type of property is this?
Flex space - Newly renovated flex space with recent upgrades and no triple net.
Where is this flex space located?
The property is located at 2207 Northwood Drive Salisbury, MD.
What are key features of this property?
This property features: No triple net fees; Newly renovated with over $900,000 in upgrades in the last 3 years.; New parking lot (new paving)
