Class A Retail Center

2618 N. Salisbury Blvd. Salisbury, MD 21801

2618 N. Salisbury Blvd., Salisbury, MD, 21801
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FOR SALE FOR LEASE
Property Type:
Neighborhood Center
Amount:
$9,975,000
Last Verified:
Oct 11, 2022

Highlights


Description

Salisbury Promenade offers prospective purchasers the rare opportunity to own a seasoned shopping center with stable, long term regional and national tenants, located on a prime thoroughfare of Salisbury, Maryland. The mix of a destination anchor, traffic generating tenants, excellent regional location and low retail vacancy and supply, makes Salisbury Promenade an outstanding long-term investment opportunity.

This asset is located in densely developed North Salisbury and is a well-positioned retail property that benefits from its outstanding location along North Salisbury Boulevard (U.S. Route 13 Business) in the heart of the commercial corridor of Salisbury.

Salisbury Promenade is anchored by a 22,044 SF Barnes & Noble which has been at the property for over 15 years with lease term through 2030. This Barnes & Noble location in Salisbury offers an in-storeStarbucks café, an extensive toys and games section, and has consistently been a solid performer nationally.

The property also benefits from a diverse mix of traffic generating services and eateries including Mission BBQ, Pivot Physical Therapy, Eyemart Express, A Nail Story, Xfinity Wireless and Great Clips. This strong collection of tenants provides Salisbury Promenade a constant and dependable cash flow well into the foreseeable future.

Class A retail center ideal for retail, restaurant, service or office use. Suite C320 is 2,500 SF. Located in the Enterprise Zone. Average Traffic Counts 38,000+ vehicles per day. $25 PSF NNN. The NNN Fees are: Taxes $2.18, Insurance $.21 and cam $2.61.

US Route 13 Business serves as the regional commercial node of Salisbury, with the property helping to anchor the north end retail corridor. Located just one-half mile south is the Center at Salisbury, the regions only enclosed mall within a 55-mile radius. The 800,000 sq.ft. mall is anchored by Macy's Boscov's, Dicks Sporting Goods, Home Good, Burlington, Regal Cinema along with several national restaurant chains. The site's location is Salisbury not only places it in the county seat of Wicomico County, but also in the commercial hub of the Delmarva Peninsula. Due to the shape and accessibility of the Peninsula, the property draws from a much wider trade area than would a typical shopping center of its size.


Year Built: 2005
Building Size: 44105sq ft
Lot Size: 4.62 acres


Documents

Salisbury Promenade - Sales Brochure
Lease Brochure (L)
Enterprise Zone Application
Salisbury is GROWING. BUILDING. WORKING

Units for Lease

Suite C320
Space Available: 2500 SF
Lease Type: NNN

Price Per Sqft/Month: $25.00

Map of 2618 N. Salisbury Blvd., Salisbury, MD, 21801

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