111 Olive St Salisbury, MD 21801
- Warehouses
- 14,520 SF
- 0.66 lot acres
Current Use by Public Records
- 1-800 Radiator & A/C-Salisbury / Auto Parts Store / Auto Body Parts Supplier
Property Details for 111 Olive St
- Year built
- 1968
- Construction
- BRICK
- Lot size
- 0.66 lot acres
- Property size
- 14,520 SF
- Zone code
- GC
- Property type
- Warehouses
- APN
- 05-007348
- APU
- 5007348
Description
This exceptional industrial property at 111 Olive Street, Salisbury, MD, presents a rare investment opportunity. The 29,984 square foot building sits on a 1.04-acre lot and is priced significantly below replacement cost at $30 per square foot. Recent upgrades include a complete renovation of office spaces and entryways, brand new windows throughout, and extensive exterior renovations using Aztek materials. The property boasts five overhead doors (including one drive-in and two dock-high), a freight elevator, and a fully fenced yard. A professionally installed low-voltage cable plant provides comprehensive infrastructure for telephone, data, CCTV, Wi-Fi, and audio-video systems. Currently generating approximately $54,600 in annual income from three tenants occupying roughly 14,000 square feet, the remaining 15,984 square feet is currently owner-occupied. The current owners are open to a lease-back arrangement, providing a buyer with time to secure a new tenant. The sale includes both 111 Olive Street and 108 Cherry Street, offering significant potential for investors and owner-operators alike. This unique property is a highly sought-after asset in a competitive market. Don't miss this chance to acquire a well-maintained, income-producing industrial building with substantial upside potential.
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
- -75.5937
- Latitude
- 38.3742
- CBSA code
- 41540
- CBSA name
- SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA
