651 ROLAND STREET
SALISBURY , MD 21804
MLS#: MDWC2012368
$2,900,000
Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1963
Sq.Footage
N/A
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.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
-
Heating YN
YES
-
Heating
Electric, Central
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Concrete
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.86
-
Property Type
Commercial Sale
-
Property Sub Type
Industrial
Price
-
Sales Price
$2,900,000
-
Tax Amount
5883.0
-
Zoning
General Commercial
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Sewer
Public Sewer
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Location
County
WICOMICO
Elementary School
Middle School
High School
Listing Courtesy of John McClellan , SVN/Miller Commercial Real Estate
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