MD > Salisbury
Salisbury, MD 21801,111 OLIVE ST
Salisbury, MD 21801,111 OLIVE ST
Salisbury, MD 21801,111 OLIVE ST
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Simone Velvel

Simone Velvel

+1(703) 507-7614
$1,090,000
Est. payment /mo
29,984 SqFt
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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

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Bright MLS (BMLS)
Listed by Matthew Trader • Rinnier Development Co
agent-avatar

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland, 20895, USA

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