211-225 Brown St Fruitland, MD 21826
- Apartment buildings
- 8,754 SF
- 1.03 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 211-225 Brown St
- Year built
- 2010
- Lot size
- 1.03 lot acres
- Property size
- 8,754 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents an eight-unit apartment building located at 211-225 North Brown Street, Fruitland, Maryland, 21826. Built in 2010, this property boasts a total of 8,754 square feet situated on a 1.033-acre lot. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $144,322.66, representing a 7.22% cap rate. Each of the eight units offers desirable floor plans, including three primary suites, all with private bathrooms, contributing to the property's strong occupancy history and low turnover. The asking price is $2,000,000, or $250,000 per unit, translating to a price per square foot of $228. The property is zoned R-3, providing flexibility for future development or expansion. Its prime location on Maryland's Eastern Shore, just south of Salisbury, ensures consistent rental income and strong potential for future appreciation. This turnkey investment is ideal for those seeking a stable and profitable addition to their multifamily portfolio. The property's excellent condition and high occupancy rate make it a truly compelling opportunity.
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
- Fruitland
- County
- Wicomico
- State
- Maryland
- Longitude
- -75.6113
- Latitude
- 38.3171
