110 Columbia RdSalisbury, MD 21801

Property Details for 110 Columbia Rd

Lot size

1.99 AC

Property size (Sq ft)

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.

Location Insight

City

Salisbury

County

Wicomico

State

Maryland

Latitude

38.3883

Longitude

-75.5808

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