New Construction Warehouse with Overhead
2229 NORTHWOOD DRIVE #1-2, Salisbury, MD 21801
For Sale
Contact for pricing
Light Industrial zoning and flexible unit configurations accommodate varied warehouse requirements.
Property Size8,504 SF
Price / SF$0.39
Days on Market54
Property Features for 2229 NORTHWOOD DRIVE #1-2
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Clear Height
Building Details
Year Built
Listing Agency:
SVN/Miller Commercial Real Estate
Listed By:
Kelly Jeter · License #666318
(410) 543-2440
Source:
Cummingsrealtors
Added: Sep 17
Changed: Nov 8
Last Checked: Nov 8 at 6:28AM
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.
This warehouse property consists of newly constructed units with flexible configuration options, including single, double, triple, or combined occupancy. The double-unit configuration measures 4,251 SF, while the total available area is 8,500 SF. Each unit includes a 225 SF finished office and a single-fixture bathroom. Overhead doors measure 14 feet, with 16-foot clear ceiling height.
The property is located at the corner of Northwood Dr and Kiley Dr in Salisbury, Maryland, with direct access to Route 13 and the Route 50 bypass. Light Industrial zoning applies within the City of Salisbury. Sitework is nearing completion, with occupancy expected imminently.
The property is located at the corner of Northwood Dr and Kiley Dr in Salisbury, Maryland, with direct access to Route 13 and the Route 50 bypass. Light Industrial zoning applies within the City of Salisbury. Sitework is nearing completion, with occupancy expected imminently.
Key Highlights
- 4,251 SF double‑unit warehouse configuration
- Up to 8,500 SF of total available warehouse area
- Each unit includes a 225 SF finished office and single‑fixture bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,950
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,099,000
$1.1M
Cap Rate 7%
$785,000
$785.0K
Cap Rate 9%
$610,556
$610.6K
Market Conditions
NOI Build-Up for 8,504 SF
Gross rent
$71.4K $8.40/SF
− Vacancy
−$6.8K −$0.80/SF
EGI
$64.6K $7.60/SF
− OpEx
−$9.7K −$1.14/SF
NOI
$55.0K $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%
$1,099,000
Cap Rate 7%
$785,000
Cap Rate 9%
$610,556
Alternative Uses
Best Use
Warehouse
$785.0K
$686.9K – $915.8K
NOI $54,950 @ 7.0% cap · market cap 1,676.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,233 @ 7.0% cap · market cap 6,354.38%
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
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Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
436
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
Properties on Market for Warehouses in Salisbury
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- CubeSmart Self Storage — 2120 Windsor Dr, Salisbury, MD 21801
- Northwood Rv & Boat Storage — Kiley Dr, Salisbury, MD 21801
- Storage Wise of Salisbury — 218 Kiley Dr, Salisbury, MD 21801
- TLC Self Storage — 2434 Goddard Pkwy, Salisbury, MD 21801
Frequently Asked Questions
What type of property is this?
Warehouse - Light Industrial zoning and flexible unit configurations accommodate varied warehouse requirements.
Where is this warehouse located?
The property is located at 2229 NORTHWOOD DRIVE #1-2 Salisbury, MD.
What are key features of this property?
This property features: 4,251 SF double‑unit warehouse configuration; Up to 8,500 SF of total available warehouse area; Each unit includes a 225 SF finished office and single‑fixture bathroom
