Two-Story Office
For Sale
$4,400,000
224 PHILLIP MORRIS Drive, Salisbury, MD 21804
Commercial Sale - SALISBURY, MD
Property Size40,017 SF
Lot Size9.10 Acres
Price / SF$109.95
Days on Market449
Property Features for 224 PHILLIP MORRIS Drive
General Information
Property type
Other
Property subtype
Office
Parking
204
Parking features
Parking Lot
Elementary school district
WICOMICO COUNTY PUBLIC SCHOOLS
Middle school district
WICOMICO COUNTY PUBLIC SCHOOLS
High school district
WICOMICO COUNTY PUBLIC SCHOOLS
Standard status
Active
Lot size
9.10 Acres
Taxes and HOA fees
Tax Annual Amount
50987
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1980
Building materials
Combination
Listing Agency:
SVN/Miller Commercial Real Estate
(410) 543-2440
Listed By:
Andrew Ball · License #36569
(410) 422-3672
Added: May 30, 2025
Changed: Jun 9
Last Checked: Aug 21 at 1:06PM
MLS# MDWC2018130
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office building offers 21 units within approximately 40,017 square feet. The property was renovated in 2024, and recent capital improvements include HVAC replacements within the last two years and roof work, with approximately half of the roofs redone in the last 18 months. The offering also includes additional +/- 3 acres of unimproved land and extra rear parking to support on-site access and layout.
Located at 224 Phillip Morris Drive in Salisbury, Maryland, the property sits on a total lot area of 9.1 acres in Wicomico County. The property is zoned LBI and is described as fully occupied with a mix of regional and national tenants.
For buyers and tenants evaluating an office building with existing in-place operations, this configuration provides multiple unit space and a current occupancy profile. Lease expense structure is described as approximately 83.83% of expenses passed through to tenants as a tenant expense, with the remaining expense attributed to the owner due to the gross lease arrangement. With the stated renovation and building systems updates, the property is positioned for purchasers seeking an office investment where significant exterior and mechanical components have been addressed recently.
Located at 224 Phillip Morris Drive in Salisbury, Maryland, the property sits on a total lot area of 9.1 acres in Wicomico County. The property is zoned LBI and is described as fully occupied with a mix of regional and national tenants.
For buyers and tenants evaluating an office building with existing in-place operations, this configuration provides multiple unit space and a current occupancy profile. Lease expense structure is described as approximately 83.83% of expenses passed through to tenants as a tenant expense, with the remaining expense attributed to the owner due to the gross lease arrangement. With the stated renovation and building systems updates, the property is positioned for purchasers seeking an office investment where significant exterior and mechanical components have been addressed recently.
Key Highlights
- Fully occupied, income‑generating property with a mix of regional and national tenants.
- Listed under recently appraised value.
- Significant recent renovations completed in 2024, including HVAC systems and roofs.
Property Analytics
Property Profile
Current Use
Lease Details
21
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 21804, MD
40,049
Population
16,736
Households
2.4
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
68.6 sq mi
ZIP Area
584
Density / Sq Mi
$68,882
Median Household Income
$35,902
Median Earnings
$1,343
Median Rent
$230,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated two-story office property with multiple units, full occupancy, and tenant-expense pass-throughs under LBI zoning.
Where is this office building located?
The property is located at 224 PHILLIP MORRIS Drive Salisbury, MD.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Fully occupied, income‑generating property with a mix of regional and national tenants.; Listed under recently appraised value.; Significant recent renovations completed in 2024, including HVAC systems and roofs.
