Listed By:
Rinnier Development Co
Address
101 Cedar Crossing, Salisbury, MD
Price
$ 12,350,000
Property Attributes
  • MLS#MDWC2009316
  • TypeCommercial
  • CountyWICOMICO
  • CitySalisbury
  • AreaWicomico Southeast
  • Zip21804
  • Style
  • Year Built1999
  • Taxes$ 2376
  • Price$ 12,350,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage1500
  • Lot Size3,485 SqFt
Data Source:
Bright MLS
Property Description

Cedar Crossing is a well located student housing portfolio for sale and has attractive assumable debt. All units are walking distance to the Salisbury University campus and across the street from the football stadium and other sports fields. Current rental rates are lower than most competitors and there is space for amenities to be added. The portfolio consists of 58 individual units with 228 bedrooms that were all built new in 1999 - wood frame construction with vinyl siding, asphalt shingles, vinyl wood, carpet and vinyl tile flooring throughout. Kitchens are complete with refrigerator, dishwasher and stove; laminate and cultured marble tops in kitchens and bathrooms. All units have washers and dryers. Addresses include: (units listed in the 'portfolio properties' are only 2 of the 58 total, see below for addresses:) 101-207 Cedar Crossing Rd.

Price History
4/26/2023 Listed $12,350,000

General Features

Sewer Public Septic,Public Sewer
Heating Heat Pump(s)
Cooling Other
Possession Settlement
Roof Shingle
Construction Materials Vinyl Siding,Block
Year Built 1999
Property SubType Five Or More Units
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Other
Business Type Other
Accessibility Level Entry - Main
County WICOMICO
Net Operating Income 715888.00
New Construction No
Property Type Commercial Sale
Water Access Y/N No
Status ACTIVE
Directions Route 13 to College Ave,turn right on South Division Street,turn left on Onley Road,Cedar Crossing will be on the left off of Onley Road,located behind the athletic fields of Salisbury University.
ModificationTimestamp 2024-04-29T10:15:37
City SALISBURY
Buyer Agent Compensation 6
Total Units 1
MLS Area Wicomico Southeast (23-04)
Lot Size Square Feet 3350.00
Tax Assessed Value 117000.0
Waterfront Y/N No
Street Name CEDAR
Tax Annual Amount 2376.0
Price Per Sq Ft 9709.12
Vacation Rental Y/N No
Days on Market 371
Standard Status Active
Year Built Source Assessor
Tax Lot 1A
Cap Rate 5.80
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Other
Hot Water Other
Heating Y/N Yes
Street Suffix CROSSING
Central Air Y/N No

Exterior Features

Water Source Public
Type of Parking Driveway,Parking Lot
Land Use Code TH
Water View Y/N No
Building Area Total 1272.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.08
Lot Size Units Square Feet
Lot Size Source Assessor
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 21804

Price
AVG $500K
$12.35M
Taxes
AVG $9,483
$2,376
Visits
AVG 259
500
Data Provided by Inside Real Estate®
Year Built
AVG 1969
1999
Walkscore
AVG 38
55
Data Provided by Walkscore® not using MLS data

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