820 Main St Salisbury, MD 21804

Property Details for 820 Main St

Year built

1973

Construction

BRICK

Lot size

0.22 lot acres

Property size

3,744 SF

Property type

Office buildings

APN

05-000521

APU

5000521

Description

This exceptional 3,750 square foot office building, located at 820 E Main Street in Salisbury, MD, presents a compelling investment opportunity. Situated on a 0.22-acre lot, the property boasts a current 66% occupancy rate, generating a Net Operating Income (NOI) of $23,394. The building underwent renovations in 2020, resulting in a three-suite configuration. Currently, two of the suites are leased under a Net-Net (NN) lease agreement, with tenants responsible for taxes and common area maintenance (CAM). The owner is responsible for property insurance. One suite, comprising 1,250 square feet, remains vacant, offering significant upside potential for increased income. A new owner could lease this space, boosting the projected NOI to $37,746. The building's excellent condition and straightforward management make it an attractive option for both investors seeking strong returns and business owners looking for a combination of income generation and occupied space. The property's prime location on East Main Street in Salisbury provides excellent visibility and accessibility. This is a rare opportunity to acquire a well-maintained, income-producing office building with substantial growth potential.

Location Insight

City

Salisbury

County

Wicomico

State

Maryland

Longitude

-75.5837

Latitude

38.3671

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments