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23868408
23868409

1517 N Salisbury Blvd, Salisbury, MD 21801

GM
MD 0681070, DE
NAI Coastal - Salisbury
Listed by NAI Coastal - Salisbury
$1,800,000
358 days on market
Updated 71 days ago
Opportunity zone

Virginia Square

Details
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 25,500
Net Rentable (SqFt) 25,500
Cap Rate 7.24%
NOI $159,000
Occupancy 100%
Brand/Tenant Family Dollar
Lease Type NNN
Price per SqFt $86
Broker Co-Op Yes
Class B
Year Built 1940
Acreage 1.600
Investment Type Stabilized

Retail | 7.24% CAP | 25,500 SqFt

Marketing description

Virginia Square is a fully leased and prominent mixed-use complex serving the central Salisbury area. Its anchor stores are Family Dollar with a 25 year leasing history and a freshly authorized 5 year option as well as Rent-a-Center with 23 years and almost 2 years remaining on its current term. It is zoned Central Business District (CBD) and is in the Opportunity Zone. The rear of the building has two 6000+sf warehouse units with a recently fenced/gated parking area. The complex offers parking for over 100 vehicles and boasts access from both Rt 13 North as well as Dover street. The warehouse units have three 14 ft roll up doors and ceiling heights up to 18 feet. The building is also fully sprinkled. This investment is being offered at a 7% CAP, Financials provided upon request.

Listing Contacts

GM
MD 0681070, DE
NAI Coastal - Salisbury
Listed by NAI Coastal - Salisbury

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$159,000.00
$13,250.00/mo

Valuation Metrics

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DSCR
8.83%
Cap Rate
8.83%
ROI

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