FOR SALE INDUSTRIAL / INVESTMENT INDUSTRIAL WAREHOUSE COMPLEX FOR SALE 239 Leonard Lane Salisbury, MD 21801 PRESENTED BY: PROPERTY HIGHLIGHTS 8,960 sq.ft. Industrial Service Warehouse on 1.18 acres Divided into 4 units offering shops w/small office areas High Ceiling Units For Maximum Work & Storage Efficiency County I-2 Heavy Industrial Zoning - No City Inventory Tax! 10 x 12' Overhead Doors for each Unit 3 Phase Service Available
Property Data and Leonard Lane Basic Income / Expense projections Location: 239 Leonard Lane Salisbury MD 21801 Building Infrastructure - 8,960 sq ft building on 1.18 acres Zoning: Property is in Wicomico County not City of Salisbury There is NO city inventory tax. Zoning is Wicomico County I-2 heavy industrial Construction: Block building with steel beams Roof Height - 14 feet clear span Overhead Doors: 10x14 Electric - Single and 3 phase 240 volt 600 amp service Water & Sewer - Well and septic - fully inspected and up to ate Heat: Heat is electric baseboard in offices throughout. The rear warehouse sections are not heated. Roof Condition: Roof is approximately 20 years old. It has been inspected and has no leaks. Roofer's estimate is approximately 5 years until maintenance update is required. Income Leasable units - There are basically 4 distinct leasing modules 1+2, 3,4, and 5+6. You can subdivide to more if you wish or combine to larger units. Based on existing like kind lease rates in surrounding properties (Northwood Business Center across street) and leasing history units would lease for $ 6.00 sq ft annually. There is also normally a modest CAM (Common Area Maintenance) charge assessed to and paid by tenants to provide for grass cutting, snow removal and any brush cutting required. Size options: If you wish to increase the open area size of any floor plan by opening up the block walls to have larger open area by combining units this is an option. Based on quotes by a professional mason the time to completion is 2 weeks. One week to order steel and one week for work to put in place a 16 foot wide opening 10-14 feet high between units. The cost is approximately $ 7,500 to do this. Projected time to lease up - Units would be fully leased in 6-12 months. There has never been a problem leasing to automotive users. In fact there was a waiting list for auto service users wanting affordable lease space.
Sq Ft quoted in attached floorplan is interior dimensions Units 1-2 2769 sq ft - $ 16,614 per year or $ 1384.50 per month Unit 3 1812 sq ft - $ 10,874 per year or $ 901.16 per month Unit 4 1580 sq ft - $ 9,480 per year or $ 790.00 per month Units 5-6 2574 sq ft - $ 15,444 per year or $ 1,287.00 per month Lease structure: Landlord pays property taxes and property insurance. Tenant pays a CAM fee for exterior maintenance, tenant pays own utilities and liability and contents insurance. Projected Gross annual income if fully leased = $ 52,412 Expenses Taxes - Property Taxes are $ 2,900 annually. Property Insurance - $ 2000 annually Maintenance reserve for improvements or repairs to property This amount will obviously vary by what improvements, upgrades or repairs are required or desired. Set this amount at rate you deem necessary. ----------------- Financing Options BB&T is offering 85% LTV at 4% to 5% interest range for up to 25 year amortizations for owner occupied properties. They typically want to see approx 50% owner occupancy of the total sq ft for those deals. Based on 299,000 x 85% = $ 254,150 financed. At 5% interest across 20 year amortization of $ 254,150 that would be $ 1677 per month. Call agent for brochure on this financing.
INDUSTRIAL WAREHOUSE COMPLEX FOR SALE SALE OVERVIEW SALE PRICE: $279,000 GROSS INCOME: $ 52,412 PROPERTY DESCRIPTION Warehouse w/office for sale in the Northwood Industrial Park. Currently divided into 4 units of warehouse w/small office area. All units have concrete slab flooring with a 14' roll-up door (4 doors total). LOT SIZE: 1.18 Acres Great opportunity for investor. Gas space heaters in the shop areas and electric baseboard in the office areas. BUILDING SIZE: 8,960 SF GRADE LEVEL DOORS: 4 YEAR BUILT: 1976 County location, no city taxes. Just off Northwood Drive and the Northwood Industrial Par. Offers easy access to US Rt. 13, US Rt. 50 and the US Rt. 50 Bypass. The Northwood Business Park is home to approximately forty manufacturers. ZONING: MARKET: SUB MARKET: CROSS STREETS: I-2 - Heavy Industrial Eastern Shore Of MD Salisbury Northwood Drive
INDUSTRIAL WAREHOUSE COMPLEX FOR SALE
INDUSTRIAL WAREHOUSE COMPLEX FOR SALE
INDUSTRIAL OFFICE- SERVICE WAREHOUSE FOR SALE
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INDUSTRIAL WAREHOUSE COMPLEX FOR SALE
INDUSTRIAL OFFICE- SERVICE WAREHOUSE FOR SALE Chris Peek, CCIM SVN Miller Commercial Real Estate Christian Peek serves as a Senior for SVN-MIller Commercial Real Estate specializing in the sale and lease of land and industrial property in the Delmarva Peninsula; the region incorporating the inland and coastal regions of Delaware, Maryland and Virginia. With over 24 years in the real estate industry, Peek has secured over 1000 transactions resulting in a career brokerage volume in excess of $600 million. Active in the commercial real estate industry, Peek earned the prestigious Certified Commercial Investment Member designation in 1989 and has written several articles on developing and investing. Phone: Peek earned a Bachelor of Science in Sociology and Mathematics from the University of Maryland College Park. Peek is also a member of the Salisbury Chamber of Commerce, the Salisbury Wicomico Development Commission and the Salisbury Rotary Club.. Fax: 410.543.1439 Cell: Email: Address: 206 E. Main Street Salisbury, MD 21801