Financial
Distress signals
Property profile

224 Phillip Morris Dr Salisbury, MD 21804

FOR LEASE
Office buildings
Property ID
US40-1315110
36,807 SF 8.12 ac lot Built 1980
Last sale Jul 2023 · $2,690,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 3-yr Hold Held for 3 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The property is an office space located on the second floor of a walk-up building. It was newly renovated and is configured with one large open area, two separate office suites, and two bathrooms. The space is designed for office use and is situated in a neighborhood context characterized by a Walk Score of 27 (car dependent), a Bike Score of 34 (somewhat bikeable), and a Transit Score of 10 (minimal transit options).

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$21k
Tax billed · 2023
Assessed value$2.13M
Effective rate1.00%

Value estimate

· Sep 2026
$3.15M
$2.83M – $3.46M
Submarket $/SF estimate$4.46M
NOI build-up
Gross scheduled income$2.19M
Vacancy & credit loss−$481k
Operating expenses−$426k
NOI · 5,945,906.98% cap applied$1.28M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$167/SF
ZIP average, outlier-cleaned · 63 recorded sales of this use type
Observed band · Q1–Q3$121 – $226

Cap rate analysis

How does the asset earn?
5,945,906.98%
$1.28M estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
LB
JurisdictionWICOMICO

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply20.4
Law Firm17.0
Wholesale Shop16.5

Location

224 Phillip Morris Dr Salisbury, MD 21804
County assessor Recorded deeds · 2 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1315 Division, Salisbury, MD 21804-6920 $1,775,000 Feb 2026 8,814 SF
1304 Division, Salisbury, MD 21804-6999 $640,000 Jun 2025 4,000 SF
629 Roland, Salisbury, MD 21804-5948 $425,000 Jan 2025 5,125 SF
732 Main, Salisbury, MD 21804-5037 $450,000 Aug 2023 3,696 SF
31550 Winterplace, Salisbury, MD 21804-1882 $3,500,000 Dec 2022 44,706 SF
100 Clemwood, Salisbury, MD 21804-6489 $420,000 Jan 2022 3,526 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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