Updated Oct 29, 2024
Banfield Pet Hospital Leases 4,000 SF Commercial Space In Salisbury, MD
2320 North Salisbury Boulevard Salisbury, Maryland 21801, USA
$25
$25/SF
Building Size
4,000 SF
Asset Type
Commercial
Closing
Jul 17, 2023
About this deal
AI
A long-term lease of a 4,000-square-foot commercial space at 2320 N Salisbury Blvd in Salisbury, MD has been successfully brokered. The space was previously occupied by Pier 1 Imports. Banfield Pet Hospital will be the new tenant, and they will be represented by Angie Trosper of CBRE. The asking rent for the space is $25 per square foot.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: N/A
- Address: 2320 N Salisbury Blvd, Salisbury, MD
- Tenant: Banfield Pet Hospital
- Brokers: Angie Trosper - CBRE, Brent Miller & Tonney Insley - SVN
- Asking Rent: $25/ft
- Square Footage: 4,000
The deal was facilitated by SVN | Miller Commercial Real Estate's Tonney Insley and Brent Miller. Banfield Pet Hospital will be relocating from their current location in Salisbury PetSmart to occupy the new space by the end of the summer.
Players
Salisbury Commercial Market Snapshot
Boundary boundary · Commercial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93