Listing IDMDWC112350
Sold For$4,550,000
Price/SqFt$210.74
StatusCLOSED
Sold Date10/22/2021
SqFt
25,150
Acres
2.610
CountyWicomico
Year Built2019
Property TypeCommercial Sale
Property Sub TypeOffice
100% net leased investment property - Northwood Professional Center. Build in 2019 offering high quality construction and professional landscaping. Consists of 3 buildings totaling 25,207 sq.ft. on 2.61 acres of land. The property contains a total of 16 units. Building B offers 12' bay doors and Building C units offer 10' bay doors. First class finished office spaces with drywall, acoustical tile ceilings and ceramic tile and LVT flooring. All units are currently under new 5 years leases. Very attractive complex located just minutes from US Route 13 & US Route 50 bypass near shopping, restaurants and services. Property is situated in the Northwood Industrial Park which has access to all municipal services and is home to over 40 manufacturers. Located in an Enterprise Zone offering a 10 year local property tax credit to the owner. The amount of the tax credit is 80% for each of the first five years starting July 2020. In years 6-10 the credit decreases 10% annually.
County
Wicomico
Price/SqFt
210.74
Property Sub Type
Office
Property Type
Commercial Sale
Year Built
2019
Zoning
LI
Building Total SqFt Source
Assessor
Central Air
yes
Cooling Type
Central A/C
Flooring Type
Concrete, Partially Carpeted, Ceramic Tile, Other
Heating
yes
Heating Type
Heat Pump(s)
Building Units Total
16
Car Parking Spaces
90
Construction Materials
HardiPlank Type, Masonry
Cooling Fuel
Electric
Drive In Door Height
12' to 15'
Foundation Details
Slab
Heating Fuel
Electric
Hot Water
Electric
Lot Dimensions Source
Assessor
Lot Size Dimensions
0.00 x 0.00
Lot Size Source
Assessor
Lot Size Units
Square Feet
New Construction
no
Parking Features
Paved Parking, Lighted Parking, Handicap Parking
Road Responsibility
City/County
Road Surface Type
Paved, Black Top
Roof
Asphalt
Sewer Septic
Public Sewer
Tidal Water
no
Total Drive In Doors
12
Total Garage and Parking Spaces
90
Type of Parking
Parking Lot
Utilities
Sewer Available, Water Available
Water Access
no
Water Oriented
no
Water Source
Public
Water View
no
Country
US
In City Limits
yes
Location Type
Industrial Park
MLS Area
Wicomico Northwest (23-01)
Municipality
Salisbury
Waterfront
no
Zoning Description
Light Industrial
Accessibility Features
Level Entry - Main
Base Off Market Date
2021-10-28T00:00:00+00:00
Building Classification
Class A
Business Type
Day Care Facility, Flex, Medical, Other
Days on Market
95
Historic
no
Potential Tenancy
Multiple
Property Condition
Excellent
Property Use
Investment
Year Assessed
2021
Year Built Source
Assessor
Annual Gross Expense
55704
Automatically Update Tax Values
yes
Buyer Financing
Conventional, Exchange/Trade
Cap Rate
6.53
Electric Expense
3027
Gross Scheduled Income
401760
Lease Considered
no
Net SqFt
25156
Other Expense
8000
Ownership Interest
Fee Simple
Possession
Settlement, Subject to Existing Lease
Riparian Rights
no
Sale Type
Standard
Tax Annual Amount
64749
Tax Assessed Value
3213833
Tax Data Updated
no
Tax Lot
12A
Tax Opportunity Zone
Y
Tax Year
2021
Total Actual Rent
383760
Vacation Rental
no
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Contact - Listing ID MDWC112350
Jenny Sheppard
Listing courtesy of SVN |Miller Commercial Real Estate
© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of SVN |Miller Commercial Real Estate. Data last updated on Friday, March 29th, 2024 07:26:49 AM.
© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of SVN |Miller Commercial Real Estate. Data last updated on Friday, March 29th, 2024 07:26:49 AM.
Data services provided by IDX Broker