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$4,400,000
40,017
square ft

224 Phillip Morris Drive
Salisbury, Maryland 21804

Price Change / MLS #MDWC2018130 / Commercial / Mixed Use / Salisbury
Listing information updated 10/20/2025 at 10:41am
Explore an exceptional investment opportunity with this well maintained 40,017 SF, two-story building featuring 21 units. Renovated in 2024, the property boasts a prime location on Maryland's Eastern Shore and is fully occupied with a mix of regional and national tenants. Zoned LBI, this offering includes an additional +/- 3 Acres of unimproved land with extra parking. Listed under the recently appraised value, and with substantial recent updates including HVAC systems and roofs, this property presents a compelling value proposition. With approximately 83.83% of all expenses being passed through as a tenant's expense, the remaining expense would be owner's expense due to the gross leases. This property offers a solid and attractive income-generating opportunity for investors. - Listed under the recently appraised value! - 40,017 SF 2 story of unimproved land with additional parking in the rear. - Approximately 1/2 of the roofs have been redone in the last 18 months and most HVAC systems replaced in the last two years. - 83.83% of all expenses are passed through as a tenant's expense.
Lot Size:
396396.00 Square Feet
Acreage:
9.10
Built:
1980
Cooling System:
Heat Pump(s)
Business Use:
Flex, Institutional, Medical, Professional, Other
Zoning:
LBI
Building Square Feet:
40,017
Tax Amount:
$50,987
Tax Year:
2025
Zip Code:
21804
City:
Salisbury
County:
Wicomico

Listing Office: SVN/Miller Commercial Real Estate

Listing Office Phone: 410.543.2440

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$297,645
Average Sale Price
60
Average Days On The Market
96%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 224 Phillip Morris Drive, Salisbury, MD 21804

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224 Phillip Morris Drive, Salisbury, MD 21804 is a commercial / mixed use currently listed at $4,400,000. This commercial / mixed use has been listed on RLAH @properties since May 30th, 2025 and was built in 1980.