Turnkey Medical Office
For Sale
$298,900
560 RIVERSIDE Drive, Salisbury, MD 21801
Commercial Sale - SALISBURY, MD
Property Size2,018 SF
Price / SF$148.12
Days on Market143
Property Features for 560 RIVERSIDE Drive
General Information
Property type
Other
Property subtype
Office
Parking
20
Parking features
Special Needs, 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
Taxes and HOA fees
Tax Annual Amount
3945
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1985
Building materials
Brick
Listing Agency:
SVN/Miller Commercial Real Estate
(410) 543-2440
Listed By:
Florence Brotzman · License #597618
(410) 543-2419
Added: Mar 20
Changed: Jul 9
Last Checked: Aug 9 at 2:06AM
MLS# MDWC2022104
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 turnkey professional office suite, Unit A201, is designed for a streamlined workplace layout with a front waiting and receptionist area, a large executive office, several private offices, and a conference room. The space includes in-suite restrooms, a kitchenette, and plentiful storage. The unit also features large windows for natural light and 2 entrances to support added privacy.
The property is located at 560 Riverside Drive in Salisbury, Maryland. The seller notes ongoing and completed site and building upgrades, including a new roof, a new parking lot, several sidewalk replacements, and drainage and downspout/gutter improvements. Additional improvements include a new fire sprinkler system, an alarm and camera system, and the current installation of an access control system at each main entry.
The property is located at 560 Riverside Drive in Salisbury, Maryland. The seller notes ongoing and completed site and building upgrades, including a new roof, a new parking lot, several sidewalk replacements, and drainage and downspout/gutter improvements. Additional improvements include a new fire sprinkler system, an alarm and camera system, and the current installation of an access control system at each main entry.
Key Highlights
- Unit A201 offers 2,018 sq. ft. of office space with front waiting and receptionist area plus large executive office
- Includes private offices, conference room, former exam rooms and former surgery suite, and multiple in‑suite restrooms
- Two entrances provide added privacy and support separate access
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
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,000
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 office suite with multiple private offices, conference room, and in-suite restrooms, including upgrades to roof and fire system.
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: Unit A201 offers 2,018 sq. ft. of office space with front waiting and receptionist area plus large executive office; Includes private offices, conference room, former exam rooms and former surgery suite, and multiple in‑suite restrooms; Two entrances provide added privacy and support separate access
