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Listed by Trent Spicer-Davis • SVN/Miller Commercial Real Estate
$450,000
Est. payment /mo
2,359 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDWC2022528
Year Built 2006
Annual Tax Amount $9,224
Tax Year 2025
Lot Size 2,359 Sqft
Acres 0.05
Lot Dimensions 0.00 x 0.00
Property Sub-Type Office
Source BRIGHT
Property Description
Located within the well-maintained East Park Professional Park, this fully leased office suite offers a compelling investment offering with in-place income and attractive cap rate potential, turnkey investment opportunity. The property is leased to Chesapeake Hearing Centers, a recognized regional provider, on a new five-year term with rent commencing June 2026, providing investors with stable, predictable income.
The suite features a functional and flexible layout, including multiple private offices, a large conference room, three separate entrances/exits, and an open workspace designed for collaborative use. Currently being remodeled, the space is ideally suited for medical or professional office users.
Positioned within a desirable professional park setting, this asset combines strong tenancy, quality improvements, and long-term income security, making it an attractive addition to any investment portfolio.
7.34% Cap Rate - 5 Year Lease in place
The suite features a functional and flexible layout, including multiple private offices, a large conference room, three separate entrances/exits, and an open workspace designed for collaborative use. Currently being remodeled, the space is ideally suited for medical or professional office users.
Positioned within a desirable professional park setting, this asset combines strong tenancy, quality improvements, and long-term income security, making it an attractive addition to any investment portfolio.
7.34% Cap Rate - 5 Year Lease in place
Location
State MD
County Wicomico
Area Wicomico Northeast (23-02)
Zoning LB1
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 60.0
Water Access N
Accessibility Entry Slope <1', No Stairs, Level Entry - Main, 2+ Access Exits
Total Parking Spaces 60
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 2305124174
Ownership Fee Simple
Special Listing Condition Standard
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Nearby School & Business
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