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651 ROLAND ST Salisbury, MD 21804
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Key Details
Sold Price $2,854,367
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 20,204 sqft
Price per Sqft $141
MLS Listing ID MDWC2012368
Sold Date 04/12/24
Originating Board BRIGHT
Year Built 1963
Annual Tax Amount $5,883
Tax Year 2023
Lot Size 0.860 Acres
Acres 0.86
Property Description
Leased Investment Opportunity! The Napa Auto Parts store in Salisbury, Maryland features a new 5 year lease (commenced 10/1/23) fully guaranteed by Genuine Parts Company with multiple renewal options. Base rent is $20,624.92 per month with increases in the renewal options. Net income is projected to be $232,649. The lease is a NNN lease with the tenant covering real estate taxes, insurance, and common area maintenance. The landlord is responsible for the roof and building structure. This is an ideal, passive investment with a tenant that has a proven track record, and is leased under a highly valued entity. The building is in great condition and features a 4 year old roof, new HVAC in the last 4 years, and well maintained parking areas. The building itself features retail/parts counter with connected private offices, and various warehouse sections with grade level loading access. The property also possesses a fenced/gated yard at the rear for parking and/or storage. Full lease information available with a signed NDA.
Location
State MD
County Wicomico
Area Wicomico Southeast (23-04)
Zoning GC
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 24.0
Waterfront N
Water Access N
Roof Type Flat
Accessibility No Stairs
Parking Type Parking Lot, On Street
Total Parking Spaces 24
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 2313040877
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Kelly Jeter • SVN |Miller Commercial Real Estate