2604 Old Ocean City RdSalisbury, MD 21804

Property Details for 2604 Old Ocean City Rd

Year built

1968

Construction

BRICK

Lot size

2.21 AC

Property size (Sq ft)

4,385 SF

Zone code

R15

Property type

Office properties

Property subtype

Office buildings

APN

05-071712

APU

5071712

Description

Exceptional opportunity to acquire a Class A, 4,385 square foot free-standing executive office building in Salisbury, Maryland. This property, situated on a 2.21-acre lot, boasts a tranquil setting with mature landscaping and ample parking (30 spaces with room for expansion). Located at a highly visible lighted intersection, this building offers excellent exposure and accessibility. The single-tenant building features a large conference room, private offices, and a full kitchen. A detached garage/storage building provides additional space. Previously used as an administrative office, this property is ideal for businesses seeking a professional yet comfortable environment. The location offers proximity to numerous amenities and major traffic routes. Importantly, this property is situated adjacent to city limits, resulting in no city property taxes. Offered at $499,999 ($114.02/SF). This is a rare opportunity, having been on the market for the first time in 30 years. The property is currently vacant, presenting a blank canvas for your business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $709,554

  6.5%

  $654,973

  7%

  $608,189

• Comparable approach

  Method

  Valuation

  Relative Method

  $260,151

  Geo Method

  $275,860

• Alternative Use

  Use

  Valuation

  Residential

  $812,167

  Hospitality

  $743,940

  Educational

  $618,950

  Medical

  $640,236

  Retail

  $962,811

Location Insight

City

Salisbury

County

Wicomico

State

Maryland

Latitude

38.3729

Longitude

-75.5539

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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