# 224 PHILLIP MORRIS Drive, Salisbury, MD 21804 > **TL;DR:** commercial, $4,400,000, built 1980. Est. $23,532/mo. Listed 519 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $4,400,000 | | Year Built | 1980 | | Lot Size | 396,396 sqft (9.10 acres) | | Property Type | Commercial (Office) | | Status | Active | | Days on Market | 519 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $22,249 | | Estimated Insurance | $1,283 | | **Total** | **$23,532** | ## Property Highlights - Built in 1980 - 9.10 acre lot - 204 parking spaces ## Description ### Agent Description Explore an exceptional investment opportunity with this well maintained 40,017 SF, two-story building featuring 21 units. Renovated in 2024-2026, the property boasts a prime location on Maryland's Eastern Shore and is fully occupied with a mix of regional and national tenants. Zoned LBI, this offering includes an additional +/- 3 Acres of unimproved land with extra parking. Listed under the recently appraised value, and with substantial recent updates including HVAC systems and roofs, this property presents a compelling value proposition. With approximately 83.83% of all expenses being passed through as a tenant's expense, the remaining expense would be owner's expense due to the gross leases. This property offers a solid and attractive income-generating opportunity for investors with NOI of $398,640 - Listed under the recently appraised value! - 40,017 SF 2 story of unimproved land with additional parking in the rear. - Approximately 1/2 of the roofs have been redone in the last 18 months and most HVAC systems replaced in the last two years. - 83.83% of all expenses are passed through as a tenant's expense. - Cap rate of 9.06% at asking price ## Location - **Address:** 224 PHILLIP MORRIS Drive, Salisbury, MD 21804 - **County:** WICOMICO - **Coordinates:** 38.36715, -75.55639 - **Google Maps:** https://www.google.com/maps?q=38.36715,-75.55639 ## Listing Agent - **Name:** Andrew Ball · **License:** 36569 - **Brokerage:** SVN/Miller Commercial Real Estate - **Broker Phone:** (410) 543-2440 ## Photos ![224 PHILLIP MORRIS Drive - Photo 1](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2368275136r.jpg) ![224 PHILLIP MORRIS Drive - Photo 2](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f4139073096r.jpg) ![224 PHILLIP MORRIS Drive - Photo 3](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2996265733r.jpg) ![224 PHILLIP MORRIS Drive - Photo 4](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3271561707r.jpg) ![224 PHILLIP MORRIS Drive - Photo 5](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3797757569r.jpg) ![224 PHILLIP MORRIS Drive - Photo 6](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f72529103r.jpg) ![224 PHILLIP MORRIS Drive - Photo 7](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3850974251r.jpg) ![224 PHILLIP MORRIS Drive - Photo 8](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3888211170r.jpg) ![224 PHILLIP MORRIS Drive - Photo 9](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f666241811r.jpg) ![224 PHILLIP MORRIS Drive - Photo 10](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f1061618747r.jpg) ![224 PHILLIP MORRIS Drive - Photo 11](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3867521833r.jpg) ![224 PHILLIP MORRIS Drive - Photo 12](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2664473607r.jpg) ![224 PHILLIP MORRIS Drive - Photo 13](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3453444139r.jpg) ![224 PHILLIP MORRIS Drive - Photo 14](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f1039413262r.jpg) ![224 PHILLIP MORRIS Drive - Photo 15](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3363378294r.jpg) ![224 PHILLIP MORRIS Drive - Photo 16](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3146276278r.jpg) ![224 PHILLIP MORRIS Drive - Photo 17](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2454542691r.jpg) ![224 PHILLIP MORRIS Drive - Photo 18](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f740881413r.jpg) ![224 PHILLIP MORRIS Drive - Photo 19](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3531875382r.jpg) ![224 PHILLIP MORRIS Drive - Photo 20](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3648001610r.jpg) ![224 PHILLIP MORRIS Drive - Photo 21](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2243813586r.jpg) ![224 PHILLIP MORRIS Drive - Photo 22](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f572986532r.jpg) ![224 PHILLIP MORRIS Drive - Photo 23](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3022987204r.jpg) ![224 PHILLIP MORRIS Drive - Photo 24](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3556231317r.jpg) ![224 PHILLIP MORRIS Drive - Photo 25](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3750556518r.jpg) ![224 PHILLIP MORRIS Drive - Photo 26](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2576373304r.jpg) ![224 PHILLIP MORRIS Drive - Photo 27](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3208521985r.jpg) ![224 PHILLIP MORRIS Drive - Photo 28](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f346745849r.jpg) ![224 PHILLIP MORRIS Drive - Photo 29](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f442886371r.jpg) ![224 PHILLIP MORRIS Drive - Photo 30](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f55237079r.jpg) ![224 PHILLIP MORRIS Drive - Photo 31](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3774324582r.jpg) ![224 PHILLIP MORRIS Drive - Photo 32](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f1008505638r.jpg) ![224 PHILLIP MORRIS Drive - Photo 33](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f317724989r.jpg) ![224 PHILLIP MORRIS Drive - Photo 34](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f1330741728r.jpg) ![224 PHILLIP MORRIS Drive - Photo 35](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f1999240470r.jpg) ![224 PHILLIP MORRIS Drive - Photo 36](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f3603474581r.jpg) ![224 PHILLIP MORRIS Drive - Photo 37](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f601198970r.jpg) ![224 PHILLIP MORRIS Drive - Photo 38](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f2627474356r.jpg) ![224 PHILLIP MORRIS Drive - Photo 39](http://lh.rdcpix.com/e8a4b9c92563cd955727d9f9319934acl-f257824313r.jpg) --- **MLS#:** MDWC2018130 | **Updated:** 2026-10-26 **Source:** listhub *Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://staging.propertysimple.ai/listing/224-phillip-morris-drive-salisbury-md-21804-17ede0a31c914404b0f90dc18008e5b6) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://staging.propertysimple.ai/listing/224-phillip-morris-drive-salisbury-md-21804-17ede0a31c914404b0f90dc18008e5b6#listing", "url": "https://staging.propertysimple.ai/listing/224-phillip-morris-drive-salisbury-md-21804-17ede0a31c914404b0f90dc18008e5b6", "name": "224 PHILLIP MORRIS Drive, Salisbury, MD 21804", "description": "Explore an exceptional investment opportunity with this well maintained 40,017 SF, two-story building featuring 21 units. 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