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224 Phillip Morris Dr
For Sale $4,400,000
$4,400,000
- Units
- Unknown Sq Ft
- 396,396 Sq Ft
- Unknown Cap Rate
Description
Explore an exceptional investment opportunity with this well maintained 40,017 SF, two-story building featuring 21 units. Renovated in 2024, 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.
- 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.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $4,400,000 |
| Property Type | Office |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1980 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2305108446 |
| MLS # | MDWC2018130 |
| Property ID | 321348792 |
| Lot Sqft | 396,396 |
| Zoning | LBI |
| Days on Market | 231 |
| Original List Price | Unknown |
| Date Updated | October 20, 2025 |
| Date Created | May 29, 2025 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Andrew Ball an agent of SVN/Miller Commercial Real Estate. Lic #36569
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Data last updated: January 15, 2026.
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Robert Crawford
REAL ESTATE AGENT