Riverside Drive Professional Office
For Sale
$298,900
560 Riverside Dr #201a, Salisbury, MD 21801
Professional office space in Riverside Professional Center, Salisbury, MD.
Property Size2,018 SF
Price / SF$148.12
Days on Market201
Property Features for 560 Riverside Dr #201a
General Information
Standard status
Active
Size
2,018 SF
Total Parking Spaces
20
Zoning
CBD
Taxes and HOA fees
Annual Taxes
$3,945
Amenities
Accessible Entrance
Central Air
Electric
Electric Water Heater
Elevator
Building Details
Building Size
2,018 SF
Year Built
1985
Listing Agency:
SVN |Miller Commercial Real Estate,
Listed By:
Florence Brotzman · License #597618
(410) 543-2419
Source:
Evrealestate
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 8 at 5:32AM
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.
Located in Riverside Professional Center, this commercial real estate property is situated minutes from US Route 50 and Tidal Health Hospital. The property offers 2018 square feet of space suitable for medical or general office use. It is located in Wicomico County.
Key Highlights
- Convenient location in Riverside Professional Center.
- Proximity to US Route 50.
- Close to Tidal Health Hospital.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,698
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,960
$534.0K
Cap Rate 7%
$381,400
$381.4K
Cap Rate 9%
$296,644
$296.6K
Market Conditions
NOI Build-Up for 2,018 SF
Gross rent
$50.9K $25.20/SF
− Vacancy
−$6.4K −$3.15/SF
EGI
$44.5K $22.05/SF
− OpEx
−$17.8K −$8.82/SF
NOI
$26.7K $13.23/SF
Area
Wicomico County, MD
Vacancy
12.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,960
Cap Rate 7%
$381,400
Cap Rate 9%
$296,644
Alternative Uses
Best Use
Office B
$550.5K
$481.7K – $642.2K
NOI $38,532 @ 7.0% cap · market cap 12.89%
Second Best
Healthcare Medical
$381.4K
$333.7K – $445.0K
NOI $26,698 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$705.9K
$617.7K – $823.6K
NOI $49,414 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,007
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Catalla Leovelito DVM — 112 E Carroll St, Salisbury, MD 21801
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional office space in Riverside Professional Center, Salisbury, MD.
Where is this medical office space located?
The property is located at 560 Riverside Dr #201a Salisbury, MD.
What is the asking price?
The asking price for this property is $298,900.
What are key features of this property?
This property features: Convenient location in Riverside Professional Center.; Proximity to US Route 50.; Close to Tidal Health Hospital.
