Bought with Dennis P. Lynch • KW Commercial
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Key Details
Sold Price $400,000
Property Type Commercial
Sub Type Special Purpose
Listing Status Sold
Purchase Type For Sale
MLS Listing ID MDWC2023806
Sold Date 10/14/26
Year Built 2002
Annual Tax Amount $3,374
Tax Year 2025
Lot Size 0.920 Acres
Acres 0.92
Property Sub-Type Special Purpose
Source BRIGHT
Property Description
5 year NN Lease commenced 8/1/2026 with a potential termination clause for Buyers, opening this offering to either an Investor, potential Day Care Operator, or the building with its Light Industrial zoning could be repurposed into a new use. Current Tenant has been in this location since 2018.
Monthly rent is $3,500.00 NNN with the Tenant responsible for all CAM. NOI is $41,700 and at full price is a 9.27% cap rate.
Landlord responsibilities include the roof, structure, and HVAC repairs over $1,500 per year.
Floor plan and Lease are in the documents tab.
Location
State MD
County Wicomico
Area Wicomico Northeast (23-02)
Zoning LI
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 25.0
Water Access N
Roof Type Asphalt
Accessibility 2+ Access Exits, 36\"+ wide Halls
Total Parking Spaces 25
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 2309060014
Ownership Fee Simple
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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