Opportunity Zone Re-Development Located at the Crossroads of the Delmarva Peninsula

$1

2407 N. Salisbury Blvd, Salisbury, MD 21801

For Sale

Land Other

Pending

Last Updated: 04/04/2022

Details:

Lot Area: 13.4 acres

Highlights:

Opportunity Zone
Pre-qualified for the "Here Is Home" Comprehensive Housing Initiative
Average daily traffic count over 38,000
Prime for redevelopment
Direct highway access
Excellent visibility

Description:

Located directly on US Rt. 13 in the heart of Salisbury's retail district, this 13.4 total acre Opportunity Zone property has direct access from the main highway and is within sight of the Rt. 50 bypass interchange and surrounded by dozen of national retailers. This opportunity has several parcels being sold as parts or all together:

• Hospitality Pad (2.57 Acres +/-) Hotel, up to 127 Rooms
• Multifamily Pad (7.64 Acres) Up to 20 Units Per Acres by Right and 20-30 Units Per Acre by Special Exception (Approximately 274-411 Total Units)
• Retail Pad (3.19 Acres +/-) available for lease/sale that can accommodate approximately a 9,170 SF building with 145 parking spaces. Asking $195,000 annual ground rent.

In Addition to the Opportunity Zone, this property is pre-qualified for the "Here Is Home" Comprehensive Housing Initiative, which is a Salisbury program to incentivize the construction of new housing stock by using fee waivers. Property owners and real estate developers may sign an agreement with the City of Salisbury waiving any and all fees associated with development – including annexation fees.

The property is located on U.S. 13 (N. Salisbury Blvd) with direct highway access and adjacent to the Centre at Salisbury 900,000 square feet mall surrounded by dozens of national retailers and restaurants.