22
See all 22 photos
$1,090,000
Est. payment /mo
29,984 SqFt
Active
111 OLIVE ST Salisbury, MD 21801
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UPDATED:
09/20/2024 01:45 AM
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 29,984 sqft
Price per Sqft $36
MLS Listing ID MDWC2015054
HOA Y/N N
Originating Board BRIGHT
Year Built 1968
Annual Tax Amount $6,911
Tax Year 2024
Lot Size 1.040 Acres
Acres 1.04
Lot Dimensions 0.00 x 0.00
Property Description
Rare Industrial property comprised of Warehouse and Office. Priced, well below replacement at just $30 PSF. Simply put, you can’t construct this type of building for anywhere near that price. Building has been upgraded with newly renovated office spaces and entry ways, brand new windows throughout, extensive exterior renovations utilizing Aztek, 5 overhead doors ( w/ drive in, 2 dock high), freight elevator and fully fenced in yard. There is also professionally installed low voltage cable plant throughout the complex for telephone, data, CCTV, Wi-Fi and Audio Video. Property is perfect for an investor or owner operator. If you wish to operate your business here, you can enjoy some income to help you offset the mortgage payment. Property is currently producing $54,600 (approx.) in income. The income is generated by 3 tenants who occupy approximately 14,000 of the building. The current owners occupy the remaining 25,000 SF. The current owners have said they would consider a lease back, in the event that an investor purchased the building. This would help give the buyer time to find a tenant for the space. The possibilities are endless for this deal and this building. This type of product is hard to find right now. Sale includes 111 Olive St. and 108 Cherry St.
Location
State MD
County Wicomico
Area Wicomico Northeast (23-02)
Zoning COMMERCIAL
Interior
Hot Water Other
Heating Other
Cooling Central A/C
Heat Source Other
Exterior
Garage Spaces 9.0
Water Access N
Accessibility Other
Total Parking Spaces 9
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 05-007348
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
Listed by Matthew Trader • Rinnier Development Co