Medical/Professional Office Condo For
401-106 Milford St Salisbury, MD 21804
401-106 Milford St, Salisbury, MD, 21804
$199,900
For Sale
$199,900
Medical/professional office condo in a well-maintained professional center.
Property Size1,125 SF
Price / SF$177.69
Days on Market285
Property Features for 401-106 Milford St
General Information
- Standard status
- Active
- Size
- 1,125 SF
Listing Agency
SVN/Miller Commercial Real Estate
(410) 543-2419
Listed by
Florence Brotzman · License #597618
(410) 543-2419
Source
Exprealty
Added: Oct 10, 2025 Updated: Jul 10 at 1:43 pm Checked: Jul 20 at 5:15 am
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
Investment Insights
Based on property information with market context.
This 1,125 sq.ft. medical/professional office is located in The Milford Professional Center. The corner condo unit is in good condition and features a side drive-up window and private rear parking. The layout includes a large, open front area divided by a service counter, along with a private office and restroom in the back. Signage is available over the front door and on the complex sign, which is conveniently located in front of the unit. The established and well-landscaped center houses physicians, a lab, and other professional users. The property is located 2 miles from Tidal Health and 1 mile from Salisbury University. Note that this property cannot be leased as a pharmacy.
Key Highlights
- Premier location at the front of The Milford Professional Center.
- Corner unit with side drive‑up window and private rear parking.
- 1,125 sq.ft. medical/professional office space.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.4k | $25.20 |
| − Vacancy | −$3.5k | −$3.15 |
| EGI | $24.8k | $22.05 |
| − OpEx | −$9.9k | −$8.82 |
| NOI | $14.9k | $13.23 |
1,125 SF · lease $25.20/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$306.9K
$268.5K – $358.0K
NOI $21,481 @ 7.0% cap · market cap 10.75%
Second Best
Healthcare Medical
$212.6K
$186.1K – $248.1K
NOI $14,884 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$393.5K
$344.3K – $459.1K
NOI $27,547 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Medical/professional office condo in a well-maintained professional center.
Where is this medical office space located?
The property is located at 401-106 Milford St Salisbury, MD.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Premier location at the front of The Milford Professional Center.; Corner unit with side drive‑up window and private rear parking.; 1,125 sq.ft. medical/professional office space.