Salisbury, MD 21804 224 Phillip Morris Drive

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Presented By: SVN/Miller Commercial Real Estate
  • MLS# MDWC2018130
  • 05/30/2025
  • Request Tour
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  • SQFT • 40,017

Home Details

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.
Presented By: SVN/Miller Commercial Real Estate

Interior Features for 224 Phillip Morris Drive

Other Interior Features

Central Air Y/NNo
Heating FuelElectric
Heating Y/NYes
Hot WaterElectric

General for 224 Phillip Morris Drive

Accessibility32 + wide Doors, 36 + wide Halls
Business TypeFlex, Institutional, Medical, Professional, Other
CitySALISBURY
Construction MaterialsCombination
Cool FuelElectric
CoolingHeat Pump(s)
CountyWICOMICO
DirectionsStrategically located near Route 50, Philmore Commons provides convenient access to retail and major travel routes. This prime location enhances its appeal to businesses and professionals seeking a we
HeatingHeat Pump(s)
Lot Size Square Feet396396.00
Lot Size UnitsSquare Feet
MLS AreaWicomico Southeast (23-04)
ModificationTimestamp2025-05-30T13:31:13
New ConstructionNo
OwnershipFee Simple
Possession0-30 Days CD
Price Per Sq Ft Total AG116.2
Property SubtypeOffice
Property TypeCommercial Sale
Property UseInvestment
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Tax Annual Amount50987.0
Tax Assessed Value2.99
Tax Year2025
Vacation Rental Y/NNo
Water Access Y/NNo
Year Built1980
Year Built SourceEstimated
ZoningLBI

Exterior for 224 Phillip Morris Drive

Building Area Total40017.00
Car Parking Spaces200
Lot Size Acres9.10
Lot Size SourceEstimated
Navigable Water Y/NNo
Total Loading Docks
Total Parking Spaces204
Type of ParkingParking Lot
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Waterfront Y/NNo

Additional Details

Price History

Rachel Shepherd

Price $4,650,000
MLS#MDWC2018130
List Date 05/30/2025
Property Type Commercial
Phone 703.929.4729
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