96-Room Hotel in Salisbury,
2701 N Salisbury Blvd, Salisbury, MD 21801
For Sale
$5,490,000
Two-story, 96-room hotel on US Route 13.
Property Size47,546 SF
Days on Market205
Property Features for 2701 N Salisbury Blvd
General Information
Standard status
Size
Class
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
NAI Coastal - Salisbury
Listed By:
Chris Davis · License MD #302826
(443) 523-4539
Source:
Naicoastal
Added: Apr 24
Changed: Nov 12
Last Checked: Nov 12 at 5:27AM
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 - Salisbury
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Investment Insights
Based on property information with market context.
This two-story hotel, featuring 96 rooms, presents an investment opportunity in Salisbury, Maryland, within an opportunity zone. The property has undergone capital improvements, including major renovations to the rooms, roof, all interior hallways, and FF&E. Situated on US Route 13, the hotel is located in Salisbury's primary commercial corridor. It is approximately 8 miles from Salisbury Regional Airport and in close proximity to beaches. The location has a bike score of 42, indicating it is somewhat bikeable, a walk score of 50, indicating it is somewhat walkable, and a transit score of 16, indicating minimal transit options.
Key Highlights
- Investment opportunity located in an opportunity zone.
- 96‑room hotel in Salisbury, MD.
- Major renovations completed to rooms, roof, interior hallways, and FF&E.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$287,950
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,759,000
$5.8M
Cap Rate 7%
$4,113,571
$4.1M
Cap Rate 9%
$3,199,444
$3.2M
Market Conditions
NOI Build-Up for 47,546 SF
Gross rent
$713.2K $15.00/SF
− Vacancy
−$107.0K −$2.25/SF
EGI
$606.2K $12.75/SF
− OpEx
−$318.3K −$6.69/SF
NOI
$288.0K $6.06/SF
Area
Wicomico County, MD
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,759,000
Cap Rate 7%
$4,113,571
Cap Rate 9%
$3,199,444
Alternative Uses
Best Use
Hotel Hospitality
$4.11M
$3.60M – $4.80M
NOI $287,950 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.63M
$14.55M – $19.40M
NOI $1,164,236 @ 7.0% cap · market cap 21.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Hotel - Two-story, 96-room hotel on US Route 13.
Where is this hotel located?
The property is located at 2701 N Salisbury Blvd Salisbury, MD.
What is the asking price?
The asking price for this property is $5,490,000.
What are key features of this property?
This property features: Investment opportunity located in an opportunity zone.; 96‑room hotel in Salisbury, MD.; Major renovations completed to rooms, roof, interior hallways, and FF&E.
