Description
INCOME PRODUCING PROPERTY WITH LOW OPERATING EXPENSES! Looking for a versatile income generating commercial property with multiple units? This property consists of 5 units that are 100% rented out generating $2,500/month in rental income. Keep them all rented or move into one of the units when the lease comes up. Each unit can be used for businesses or storage units - the possibilities are endless. Property is close to Salisbury, MD line and located right next to the Old Parsonsburg Firehouse. Parking in front and back of building. 2 half baths that tenants share. Property has had multiple updates, all concrete floors, new windows, doors and vinyl siding on main building, roof redone 4 years ago, electric updated. Unit 1 (34x22), Unit 2 (27x17), Unit 3 (21x21), Unit 4 (14 x 29), Unit 5 (40 x 18, detached building). Measurements are approximate. YEARLY EXPENSES: Taxes: $901, Insurance: $742, Electric: $600 (owner contributes $50 a month for electric, tenants split the rest. 1 meter for property), Lawn Care ($25 per cut x 2 times per month x 6 months a year = $300. Owner self manages the building. CAP RATE does not include vacancy.
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Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 20th January, 2021 10:09 PM
