110 Columbia Rd Salisbury, MD 21801
- Warehouses
- 8,152 SF
- 1.99 lot acres
Current Use by Public Records
- Warehouses
Property Details for 110 Columbia Rd
- Lot size
- 1.99 lot acres
- Property size
- 8,152 SF
- Property type
- Warehouses
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a 8,152 square foot flex space, encompassing storefront and warehouse components, situated on a 1.99-acre lot at 110 Columbia Road, Salisbury, MD 21801. The property, currently 100% occupied by a national tenant with over 400 locations, boasts a strong lease history with a Net Net Net (NNN) lease in place. The current lease, commencing September 1, 2021, and expiring August 31, 2026, has a remaining term of approximately 1.8 years, with three 5-year renewal options at a 2% annual rent increase. The current annual rent is $58,578, generating a Pro-Forma NOI of $57,405. The property features three buildings and a fenced storage yard, offering excellent functionality and versatility. Zoned for General Commercial use, this assemblage of two parcels (APN: 09-059822 & 02-016966) provides significant potential for future development or continued strong rental income. Landlord responsibilities include roof, structure, foundation, boiler, and parking. This well-maintained property offers a compelling investment opportunity with a strong tenant and significant upside potential. The asking price is $800,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salisbury
- County
- Wicomico
- State
- Maryland
- Longitude
- -75.5808
- Latitude
- 38.3883
