825 Isabella St Salisbury, MD 21801
- Gas stations
- 1,599 SF
- 1.09 lot acres
Current Use by Public Records
- Top Ten / Convenience Store / Beer Store
- ATM / Atm
Property Details for 825 Isabella St
- Year built
- 1964
- Lot size
- 1.09 lot acres
- Property size
- 1,599 SF
- Property type
- Gas stations
Description
This exceptional investment opportunity presents a well-established gas station and convenience store located at 825 W. Isabella Street, Salisbury, Maryland, 21801. The property boasts a substantial 1,599 square feet building situated on a 1.09-acre lot, zoned for commercial use and built in 1964. Currently operating under an 11-year NNN lease with an experienced operator, this property offers a strong 7.79% cap rate and a net operating income (NOI) of $38,962. The asking price is $500,000, translating to $312.70 per square foot. The lease includes 3% annual rent increases commencing June 2024, ensuring consistent income growth. Landlord responsibilities are minimal, encompassing only half of the property taxes. A Phase 1 environmental assessment was successfully completed in 2017. The property includes 10,000-gallon fuel tanks and the tenant manages all licenses (including alcohol and lottery permits), eliminating any landlord obligations. A significant advantage is the inclusion of two additional lots with separate addresses, presenting potential for future expansion or development. This turnkey investment offers a compelling combination of strong cash flow, long-term lease stability, and significant upside potential. The property's prime location in Salisbury, Maryland ensures high traffic volume, contributing to its consistent profitability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salisbury
- County
- Wicomico
- State
- Maryland
- Longitude
- -75.6094424
- Latitude
- 38.3710883
