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    George Timothy Merritt, Delmar, DE

    License ID: 0681070
    Nai Coastal

    Service Locations

    Contact details

    Phone:
    (443) 935-2277
    Office Address:
    108 Pine Bluff Rd, Salisbury, MD, 21801

    Performance

    Listings
    29

    Listings

    For Sale (12)

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    • Contact for pricing
      0.17 Acres

      Downtown Salisbury Office Suite

      Elegant Office Space, Prime Location
      207 Main St Unit, Salisbury, MD 21801
      View Details
    • Contact for pricing

      High-Visibility Delmar Retail Space

      Highway 13 Retail Opportunity: Flexible Lease Options
      38552 Sussex Hwy, Delmar, DE 19940
      View Details
    • Contact for pricing

      Modern Milford Office Suite B

      2500 SF Office/Flex Space Available
      105 Front St Unit, Milford, DE 19963
      View Details
    • $1,150,000
      0.70 Acres

      Selbyville Restaurant - Turnkey Opportunity

      Established Restaurant, High Traffic Location, Great Potential
      38188 Dupont Blvd, Selbyville, DE 19975
      View Details
    • $450,000
      1.75 Acres

      Prime Delmar Commercial Land

      1.75 Acres, US Route 13 Frontage
      30342 Foskey Ln, Delmar, MD 21875
      View Details
    • Contact for pricing
      4.85 Acres

      Milford Flex Space: Prime Location

      14,000 SF+ Flex Space Available for Lease
      301 4Th St, Milford, DE 19963
      View Details
    • Contact for pricing

      Prime Retail/Office/Flex Space Available

      Highway frontage, customizable space, and build-to-suit options available.
      Sussex Hwy, Delmar, DE 19940
      View Details
    • $499,000

      Former School with Redevelopment Potential

      7.14 acres with 34,758 SF building, many possibilities.
      28573 Hudson Corner Rd, Marion Station, MD 21838
      View Details
    • $1,100,000

      Versatile Industrial Property with Warehouse

      4.66-acre property with 6,000 sq ft warehouse and expansion potential.
      9320 Old Racetrack Rd, Delmar, DE 19940
      View Details
    • $2,199,000

      Fully Leased Mixed-Use Complex

      Prominent, fully leased mixed-use complex in central Salisbury.
      1517 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $325,000

      Commercial Land on Ocean Highway

      Commercial land available on Ocean Highway in Delmar, Maryland.
      9245 Ocean Hwy, Delmar, MD 21875
      View Details
    • $450,000

      1.75 Acre Corner Parcel

      Corner parcel zoned Community Business District with public water.
      30342 Foskey Ln, Delmar, MD 21875
      View Details

    For Lease (17)

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    • $850 /Mo

      Downtown Salisbury Office Space Available

      Second floor office space with private entrance in downtown Salisbury.
      122 North Division St, Salisbury, MD 21801
      View Details
    • $350 /Mo

      Downtown Salisbury Third-Floor Office Space

      Affordable 226 SF office space in downtown Salisbury.
      118 N Division St, Salisbury, MD 21801
      View Details
    • $16 SF/Yr

      Modern Office Space For Rent

      Professional office space suitable for therapy or medical uses.
      2324 N Zion Rd, Salisbury, MD 21801
      View Details
    • $11 SF/Yr
      7,600 SF

      Versatile Industrial Building with Freezer

      7600 SF industrial building with freezer and ample parking.
      30083 Discount Land Rd, Laurel, DE 19956
      View Details
    • $3,575 /Mo

      Warehouse with Covered Loading Dock

      6600 SF warehouse space featuring a covered loading dock.
      110 Williamsport Cir, Salisbury, MD 21801
      View Details
    • $1,300 /Mo

      Downtown Salisbury Retail/Professional Space

      835 SF retail/professional space in Downtown Salisbury available for lease.
      146 W Market St, Salisbury, MD 21801
      View Details
    • $1,250 /Mo

      Renovated Retail Space Near University

      Prime, renovated retail space near Salisbury University. On-site storage available.
      123 Bateman St, Salisbury, MD 21801
      View Details
    • $1,550 /Mo

      Downtown Salisbury Office Unit For Rent

      Office unit in redeveloped building, close to downtown amenities.
      150 West Market St, Salisbury, MD 21801
      View Details
    • $1,500 /Mo

      Prime Office Space, Salisbury MD

      Highly visible professional office space in downtown Salisbury with CBD zoning.
      126 N Division St, Salisbury, MD 21801
      View Details
    • $1,800 /Mo

      Renovated Office or Retail Space

      Newly renovated 1800 sq ft office or retail space.
      501 N Bi State Blvd, Delmar, DE 19940
      View Details
    • $10 SF/Yr

      Versatile Warehouse Space For Lease

      4.66-acre property with 6,000 sq ft warehouse for lease.
      9320 Old Racetrack Rd, Delmar, DE 19940
      View Details
    • $1,250 /Mo

      Prime Retail Space For Rent

      Renovated retail space near Route 13 and Salisbury University.
      123 Bateman St, Salisbury, MD 21801
      View Details
    • $1,800 /Mo

      Renovated Office or Retail Space

      Newly renovated 1800 sq ft office/retail space with parking.
      501 N Bi State Blvd, Delmar, DE 19940
      View Details
    • $1,500 /Mo

      Downtown Salisbury Office Space Available

      Professional office space with high visibility and convenient location.
      126 N Division St, Salisbury, MD 21801
      View Details
    • $1,550 /Mo

      Downtown Salisbury Office/Retail Space

      Office/retail space in a freshly redeveloped building in Downtown Salisbury.
      150 West Market St, Salisbury, MD 21801
      View Details
    • Contact for pricing

      Prime Retail Space Available

      Multitenant property with high visibility and ample parking.
      1517 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $4,000 /Mo

      Salisbury Office Space For Rent

      Office space available for lease in Salisbury, Maryland.
      2324 N Zion Rd, Salisbury, MD 21801
      View Details

    Leases and Sales on Map

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    • For Lease

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    George Timothy Merritt, Delmar, DE
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    George Timothy Merritt, Delmar, DE
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