Turnkey Medical Office
For Sale
$298,900
560 Riverside Drive, Salisbury, MD 21801
Turnkey professional office suite with multiple private offices, conference room, in-suite restrooms, and two entrances.
Property Size2,018 SF
Price / SF$148.12
Days on Market166
Property Features for 560 Riverside Drive
General Information
Standard status
Active
Size
2,018 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$3,945
Amenities
front waiting and receptionist area
executive office
private offices
conference room
in-suite restrooms
kitchenette
storage areas
alarm and camera system
Central Air
3
Carpet
CBD
Parking.
Lighted, Handicap Parking, Lot.
Business Park, Paved Road.
Building Details
Year Built
1985
Listing Agency:
SVN
(410) 543-2419
Listed By:
Florence Brotzman · License #597618
(410) 543-2419
Source:
Xome
Added: Mar 9
Changed: Aug 12
Last Checked: Aug 21 at 4:18AM
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
Investment Insights
Based on property information with market context.
This turnkey professional office space, Unit A201 (Unit 201A), totals 2,018 square feet and is designed for a high-functioning workspace. The suite includes front waiting and a receptionist area, a large executive office, multiple private offices (described as former exam rooms), a conference room, and in-suite restrooms. Additional improvements include a former surgery suite, a kitchenette, plentiful storage, large windows for natural light, and integrated alarm and camera systems.
The layout also provides two entrances, supporting added privacy for staff and visitors.
As presented, the suite offers a mix of reception, exam-style rooms, and conference and support areas, making it well-suited to an organization that needs both client-facing space and multiple private rooms within a single suite.
The layout also provides two entrances, supporting added privacy for staff and visitors.
As presented, the suite offers a mix of reception, exam-style rooms, and conference and support areas, making it well-suited to an organization that needs both client-facing space and multiple private rooms within a single suite.
Key Highlights
- 2,018 SF professional office suite with multiple private offices, conference room, and in‑suite restrooms
- Turnkey interior features include new LED lighting, central air, and alarm and camera system
- Reception and front waiting area plus an executive office and former exam/surgery suite rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,698
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
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
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 units - Turnkey professional office suite with multiple private offices, conference room, in-suite restrooms, and two entrances.
Where is this office units located?
The property is located at 560 Riverside Drive 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: 2,018 SF professional office suite with multiple private offices, conference room, and in‑suite restrooms; Turnkey interior features include new LED lighting, central air, and alarm and camera system; Reception and front waiting area plus an executive office and former exam/surgery suite rooms
