108 Christensen LnSalisbury, MD 21804

Property Details for 108 Christensen Ln

Year built

1990

Lot size

0.36 AC

Property size (Sq ft)

1,845 SF

Zone code

LI

Property type

Office properties

Property subtype

Office buildings

APN

13-009430

APU

13009430

Description

This exceptional 3,000-square-foot single-tenant building presents a unique opportunity in Salisbury, MD's Eastern Shore submarket. Situated on a spacious 15,600-square-foot lot, this property boasts a desirable blend of office and warehouse space, ideal for a variety of businesses. The building features a 12-foot ceiling height, providing ample vertical space for storage or specialized equipment. Access is convenient with two dock-high doors and two drive-in doors, ensuring efficient loading and unloading. Ample parking is available with 15 spaces. The property's zoning is Wicomico County Light Industrial, offering flexibility for various uses. Approximately 75% of the space is dedicated to office service areas, while the remaining 25% provides valuable warehouse functionality. This location offers a private setting and is conveniently located near South Division. A significant advantage is its Wicomico County location, exempting it from Salisbury City inventory tax. Furthermore, this property is located within a designated Maryland Opportunity Zone. The building is in excellent condition and will be available for occupancy on October 1st, 2024. This property is perfectly suited for counseling practices, general office-warehouse service businesses, and similar enterprises seeking a blend of functionality and a strategic location.

• CAP approach

  CAP return

  Valuation

  6%

  $298,545

  6.5%

  $275,580

  7%

  $255,896

• Comparable approach

  Method

  Valuation

  Relative Method

  $109,450

  Geo Method

  $116,069

• Alternative Use

  Use

  Valuation

  Residential

  $341,719

  Hospitality

  $313,013

  Educational

  $260,423

  Medical

  $269,380

  Retail

  $405,103

Location Insight

City

Salisbury

County

Wicomico

State

Maryland

Latitude

38.3442

Longitude

-75.5978

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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