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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
    17

    Listings

    For Sale (10)

    View map
    • $2,199,000
      25,500 SF

      Fully Leased Mixed-Use Complex

      Prominent Salisbury complex with long-term tenants and warehouse space.
      1517 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $10,000,000
      200,500 SF

      Spacious Warehouse with Development Potential

      200,500 SF warehouse with value-add opportunities in Opportunity Zone.
      300 Moss Hill Ln, Salisbury, MD 21804
      View Details
    • Contact for pricing
      12,000 SF

      Prime Retail/Office/Flex Space Available

      Highway frontage, customizable space, and build-to-suit options available.
      Sussex Hwy, Delmar, DE 19940
      View Details
    • $325,000

      1.15 Acres on Ocean Highway

      Partially cleared land with access to Rt 13 N.
      9245 Ocean Hwy, Delmar, MD 21875
      View Details
    • $450,000
      1 SF

      Commercial Land on Route 13

      1.75-acre commercial land with high visibility and highway frontage.
      30342 North Foskey Ln, Delmar, MD 21875
      View Details
    • $499,000
      34,758 SF

      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
    • $1,150,000
      3,600 SF

      Turn-Key Restaurant Opportunity

      Established restaurant with equipment, bar, and redevelopment potential.
      38188 Dupont Blvd, Selbyville, DE 19975
      View Details
    • Contact for pricing
      68,000 SF

      Milford Flex Space Opportunity

      34,000 SF flex space available in Milford, Delaware.
      301 SE 4Th St, Milford, DE 19963
      View Details
    • $1,300,000
      6,000 SF

      Versatile Warehouse on 4.66 Acres

      Industrial property with warehouse, expansion potential, and convenient location.
      9320 Old Racetrack Rd, Delmar, DE 19940
      View Details
    • $318,000

      Mixed-Use Warehouse and Retail Space

      Mixed-use warehouse and retail space with Route 13 visibility.
      445 Makemie Rd, Pocomoke City, MD 21851
      View Details

    For Lease (7)

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    • $1,500 /Mo
      1,412 SF

      Downtown Salisbury Office Space Available

      Professional office space with high visibility and convenient location.
      126 N Division St, Salisbury, MD 21801
      View Details
    • $700 /Mo
      15,214 SF

      Downtown Salisbury Office Unit

      Office unit for lease in the Cannon Building.
      106 Circle Ave, Salisbury, MD 21801
      View Details
    • $1,550 /Mo
      12,200 SF

      Warehouse Space with High Ceilings

      2250 SF warehouse with 20+ ft ceilings for rent.
      926 Eastern Shore Dr, Salisbury, MD 21804
      View Details
    • $850 /Mo
      3,090 SF

      Downtown Salisbury Office Space Available

      Second floor office space with private entrance in downtown Salisbury.
      122 North Division St, Salisbury, MD 21801
      View Details
    • $3,575 /Mo
      11,643 SF

      Warehouse with Covered Loading Dock

      6600 SF warehouse with unique covered loading dock.
      110 Williamsport Cir, Salisbury, MD 21801
      View Details
    • $1,300 /Mo
      2,514 SF

      Downtown Salisbury Retail/Professional Space

      835 SF retail/professional space in downtown Salisbury for lease.
      146 W Market St, Salisbury, MD 21801
      View Details
    • $10 SF/Yr

      Retail Space in Pecan Square

      Highly visible retail space with ample parking and high traffic.
      1200 Nanticoke Rd, Salisbury, MD 21801
      View Details

    Leases and Sales on Map

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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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