500 Riverside Dr LOT 3,Salisbury, MD 21801
1 acre
$250,000
1 acre waterfront property available on busy intersection on the Wicomico River, located just around the corner from the Downtown Plaza and Courthouse, and down the road from the Hospital. Great commercial opportunity. Fully developed site access and located in the Enterprise Zone.
"It's been subdivided into three 1 acre lots, price of $250K each. Just posted on Zillow today. Now, wasn't this piece of land at one point in time owned by the City and sold for much less"?
21 comments:
This property was owned by the Isear / Holland families for decades. Sorry no scandal here.
I don't recall the city ever owning this piece of property. It was on the market sometime in the last fifteen years for $4 million, right around the time that 7 story monstrosity was built next door. The asking price went down in a hurry.
It's very unfortunate but Salisbury real estate is pretty much worthless and is only going to get worse. Stupid people in charge. Turning downtown into an entertainment/arts area is beyond foolish and this is why everything these so called developers have done is been a huge failure. It not like it is rocket science. The demographics of this area can not and will not anytime in the near future be able to support an entertainment/arts district. Nor is anyone able (or interested) in buying condos in Salisbury.
Another gillis home run
Flood zone.
10:24 you are only half right. Actually turning downtown into an art & entertainment center is a great idea since we have virtually no arts or entertainment.
And real estate is pretty much worthless. Do some research and see how many foreclosures and short sales there are. Then look at the ridiculous prices people are asking for their homes, some have been for sale for over 2 years.
There are the results, when the only job you can get is part time with no benefits. Hey I've got a great idea, let's build more apartments...... That will help boost the community.
It looks like Isear sold it to his own LLC in 2004 for $1.4 million. What would be the reason for doing that, I wonder.
The company that owns it now, Spiro Investments, LLC, doesn't seem to exist anymore. So, whose name should be on the deed?
Company Name SPIRO INVESTMENTS, LLC
Company No w07871106
Status FORFEITED
Good Standing No
Business Code Other
Date of Formation 03/23/2004
State of Formation MD
Stock/Nonstock N/A
Close/Not Close Unknown
Resident Agent HENRY F. SIERADSKI, JR
2 EVERGREEN RD.
SEVERNA PARK, MD 21146
Company Overview
SPIRO INVESTMENTS, LLC is a company incorporated in Maryland and its company number is w07871106. SPIRO INVESTMENTS, LLC was registered on 03/23/2004. The company's status is listed as FORFEITED.
11:18 It's owned by Devreco. Look at the top. I can't recall the name right now but they are the ones who a lot of people believe are going to save Sby. Headquarters live is one of their debacles. Devreco purchased it from Spiro in 2013 for $500,000.
Spiro purchased it from Cavalier in 2004 for 1.4 mil.
11:18 You are looking at the Transfer Information at the bottom of the assessment page. Refer to the top of page for current owner info. Spiro Investments sold it for $500,000 (after buying it for $1,400,000 in 2004) on 12/20/2013.
If ignorance truly is bliss, then you must be a really happy person! You just don't understand real estate, economics, urban planning and development, or demographic data. Downtowns across the world grow and survive through arts and entertainment. The downtowns of the 1940s and 50s are gone in America and will not soon return. Please get out of this small-minded town, travel, and experience what other people are doing to revitalize their communities. The Lower Eastern Shore has a large number of family more than able to support both an arts district, and buy condos. Open your eyes!
Who would want to buy one of those condos on this side of the river, when you have to look at what's on the other side of the river, oh and probably half of them on the other side probably only pay around $100 or less a month to live there. Don't think so.
What Downtown Salisbury needs is more subsidized housing. More WIC, more Section 8!! More Muslims flown in direct from Somalia and Syria!!! Diversity is Strength!!!! WAR IS PEACE!!! Vote Democrat!!! Feel the Bern of Communism! Give up your guns for Hillary! Yyaaayyy!!!
Name these areas 11:45. I'll be waiting but don't bother unless these areas you speak of have comparable demographics to Salisbury. I bet I don't hear another peep out of you because you are wrong and as usual I am right.
"The Lower Eastern Shore has a large number of family more than able to support both an arts district, and buy condos. Open your eyes!"
LOL---You need to open your eyes. That condo project in Sby is a complete failure and that's why the River whatever it is sat partially complete when the developer bailed out after seeing there is NO market for them in Sby. NONE. You are either lying or so uninformed that it's not even funny and you would best be served by never ever opening your mouth in public as it would only prove to people just what a dunce you are.
Joe give these fools a lesson on researching deeds. The property can easily be traced to each owner over the years, back to the original owners, at the MDLANDREC website.
You are ignorant 11:45. Here's an FYI for you. Arts and Entertainment districts work and only work in places like the City of Frederick MD. This because Frederick in and of itself and it's surrounding areas have employers employing 100's of 1000's of people. The county of Fredrick is now a suburb of Wash DC. The household income level is nearly double than what it is around here.
It's another gillisty!
Who in their right mind would spend any amount of money for a boggy waterfront property , on a polluted stinking river!?
2:24, Salisbury does not want to turn into another Frederick, or Baltimore, or Washington D C. Enough of those people from across the bridge have come here and ruined Salisbury as it is. This used to be such a nice area. They come here and bring their worthless way of life with them. That's why we call them Baltimorons.
934 a lot of the problems began when they built ECI. That's when the city folk started coming to shore to be by their homies for visitors day. Give credit where credit is due. If you hadn't let legislators build a high security prison at your backdown, you might not have half the issues you have now.
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