Automotive Service Showroom
For Sale
$875,000
202 Kiley Dr, Salisbury, MD 21801
Showroom, offices, waiting room, and a 10-bay service center with drive-in doors, plus ample parking.
Property Size7,576 SF
Days on Market114
Property Features for 202 Kiley Dr
General Information
Standard status
Active
Size
7,576 SF
Property subtype
Special Purpose
Building Details
Building Size
7,576 SF
Year Built
2006
Listing Agency:
NAI Coastal
Listed By:
Chris Davis · License #302826
(443) 523-4539
Source:
Naicoastal
Added: May 19
Changed: Sep 8
Last Checked: Aug 8 at 4:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Coastal
Investment Insights
Based on property information with market context.
This automotive-focused property includes a showroom area, offices, a waiting room, and a 10-bay service center with drive-in doors. The building is described as being in great condition and well maintained, and it’s presented as ready to support on-site automotive services.
A large on-site area supports vehicle movement and operation, with plenty of parking available. An adjacent lot could also be purchased if additional space is needed.
The configuration combines front-of-house customer space with multiple service bays, creating a practical setup for retail showroom and in-bay service operations under one roof.
A large on-site area supports vehicle movement and operation, with plenty of parking available. An adjacent lot could also be purchased if additional space is needed.
The configuration combines front-of-house customer space with multiple service bays, creating a practical setup for retail showroom and in-bay service operations under one roof.
Key Highlights
- 2006‑built commercial building with showroom, offices, and a waiting room
- 10‑bay service center with drive‑in doors for vehicle service operations
- Large open area for moving around within the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,956
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$859,120
$859.1K
Cap Rate 7%
$613,657
$613.7K
Cap Rate 9%
$477,289
$477.3K
Market Conditions
NOI Build-Up for 7,576 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.2K $9.00/SF
− Vacancy
−$6.8K −$0.90/SF
EGI
$61.4K $8.10/SF
− OpEx
−$18.4K −$2.43/SF
NOI
$43.0K $5.67/SF
Area
Wicomico County, MD
Vacancy
10.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$859,120
Cap Rate 7%
$613,657
Cap Rate 9%
$477,289
Alternative Uses
Best Use
Retail
$2.28M
$2.00M – $2.66M
NOI $159,674 @ 7.0% cap · market cap 18.25%
Second Best
Industrial
$613.7K
$537.0K – $715.9K
NOI $42,956 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,510 @ 7.0% cap · market cap 21.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
388k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 44%
Dining 34%
Leisure 9%
Shops & Services 7%
Boscov's
Apparel
83,221 visits/mo
0.3 miles
DICK'S Sporting Goods
Apparel
48,133 visits/mo
0.5 miles
Regal Cinemas
Leisure
33,148 visits/mo
0.5 miles
Burlington
Apparel
30,051 visits/mo
0.3 miles
Olive Garden
Dining
22,488 visits/mo
0.2 miles
Demographics for 21801, MD
31,183
Population
12,140
Households
2.6
Avg Household Size
37
Median Age
34%
College-Educated
87%
High-School Grad
40.1 sq mi
ZIP Area
778
Density / Sq Mi
$67,140
Median Household Income
$36,290
Median Earnings
$1,058
Median Rent
$286,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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- Pohanka Honda of Salisbury Service — Pohanka Honda of Salisbury, 2011 N Salisbury Blvd, Salisbury, MD 21801
- Pohanka Nissan of Salisbury Service — 2012 N Salisbury Blvd, Salisbury, MD 21801
Frequently Asked Questions
What type of property is this?
Auto shop - Showroom, offices, waiting room, and a 10-bay service center with drive-in doors, plus ample parking.
Where is this auto shop located?
The property is located at 202 Kiley Dr Salisbury, MD.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2006‑built commercial building with showroom, offices, and a waiting room; 10‑bay service center with drive‑in doors for vehicle service operations; Large open area for moving around within the building
