Divisible Warehouse
2229 NORTHWOOD DRIVE #1-4, Salisbury, MD 21801
For Sale
Contact for pricing
Light Industrial zoning accompanies warehouse space with a finished office and single-fixture bathroom in each unit.
Property Size8,504 SF
Price / SF$0.77
Days on Market59
Property Features for 2229 NORTHWOOD DRIVE #1-4
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Clear Height
Building Details
Year Built
Buildings
Building Size
Listing Agency:
SVN/Miller Commercial Real Estate
Listed By:
Kelly Jeter · License MD #666318
(410) 543-2440
Source:
Cummingsrealtors
Added: Sep 17
Changed: Nov 12
Last Checked: Nov 12 at 7:59AM
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 comprises 8,504 SF of newly constructed space configured for division into areas as small as 2,100 SF. Each unit includes a 225 SF finished office and a single-fixture bathroom. The building also provides 14-foot overhead doors and 16-foot clear ceiling height, supporting a range of warehouse and light industrial operations.
Positioned at the corner of Northwood Dr and Kiley Dr in Salisbury, the property offers immediate access to Route 13 and the Route 50 bypass. The site is zoned Light Industrial by the City of Salisbury, providing a clearly defined industrial setting for the building’s warehouse configuration.
Positioned at the corner of Northwood Dr and Kiley Dr in Salisbury, the property offers immediate access to Route 13 and the Route 50 bypass. The site is zoned Light Industrial by the City of Salisbury, providing a clearly defined industrial setting for the building’s warehouse configuration.
Key Highlights
- 8,504 SF warehouse building with divisibility to 2,100 SF
- 225 SF finished office and single‑fixture bathroom in each unit
- 14‑foot overhead doors
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
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,233 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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 accompanies warehouse space with a finished office and single-fixture bathroom in each unit.
Where is this warehouse located?
The property is located at 2229 NORTHWOOD DRIVE #1-4 Salisbury, MD.
What are key features of this property?
This property features: 8,504 SF warehouse building with divisibility to 2,100 SF; 225 SF finished office and single‑fixture bathroom in each unit; 14‑foot overhead doors
