Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    102 Division St Salisbury, MD 21801-4942

    • Investment properties
    • 2,688 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Jul 07, 2023
    $252,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2338562
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Edit Downtown Salon / Hair Salon

    Property Details for 102 Division St

    Year built
    1930
    Construction
    BRICK
    Lot size
    0.03 lot acres
    Property size
    2,688 SF
    Zone code
    CBD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    09-059156
    APU
    9059156

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.6008
    Latitude
    38.3657
    CBSA code
    41540
    CBSA name
    SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,232
    $20,100
    $203,700
    $223,800
    -
    $20,100
    $203,700
    $223,800

    Comparable in this City

    • Value Estimation by Request
      1,176 SF

      1013 Marine Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,176 SF
      1013 Marine Rd, Salisbury, MD 21801-7444
      View Details
    • Value Estimation by Request
      794 SF

      2501 Zion Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 794 SF
      2501 Zion Rd, Salisbury, MD 21801-2226
      View Details
    • Value Estimation by Request
      1,344 SF

      1017 Marine Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,344 SF
      1017 Marine Rd, Salisbury, MD 21801-7452
      View Details
    • Value Estimation by Request
      1,382 SF

      210 Elizabeth St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,382 SF
      210 Elizabeth St, Salisbury, MD 21801-4111
      View Details
    • Value Estimation
      $520,000
      5,025 SF

      305 Division St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,025 SF
      305 Division St, Salisbury, MD 21801-4218
      View Details
    • Value Estimation by Request
      1,250 SF

      1222 Pemberton Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,250 SF
      1222 Pemberton Dr, Salisbury, MD 21801-2402
      View Details

    Similar Nearby for Sale

    • $330,000
      1,736 SF

      Salisbury Duplex in Historic District

      Duplex in Salisbury's historic district, ideal for investment.
      231 Newton St, Salisbury, MD 21801
      View Details
    • Contact for pricing
      14.15 Acres

      Prime Salisbury Retail Space

      Downtown Salisbury Retail Opportunity
      200 Cypress St, Salisbury, MD 21801
      View Details
    • Contact for pricing
      1.97 Acres

      Salisbury Industrial Space - 1.97 Acres

      Versatile industrial space, ample parking, prime location.
      1607 Northwood Dr, Salisbury, MD 21801
      View Details
    • $1,300,000
      12,984 SF

      Salisbury Office Building & Warehouse

      Prime Salisbury location, 12,984 SF, 3.33 acres
      2523 Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $197,250
      2.63 Acres

      Commercial Land in Salisbury, MD

      2.63 acre commercial land for sale in Salisbury, Maryland.
      Westwood Dr, Salisbury, MD 21801
      View Details
    • $428,400
      14.28 Acres

      Commercial Land at Route 50

      14.28 acre commercial land parcel with excellent access and visibility.
      1707 West Rd, Salisbury, MD 21801
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      3,049 SF

      Downtown Salisbury Retail/Office Space

      Retail/Office space in downtown Salisbury, previously used as a medical office.
      224 Main St, Salisbury, MD 21801
      View Details
    • $2,377 /Mo

      Office Space in Salisbury, MD

      2,387 SF office space available for lease in Salisbury.
      601 E Naylor Mill Rd, Salisbury, MD 21801
      View Details
    • $1,099 /Mo

      Office Space For Rent

      Office space available for lease in Salisbury, Maryland.
      2203 Northwood Dr, 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
    • $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
    • $2,500 /Mo
      1,000 SF

      Industrial Land For Lease

      5+/- acres of industrial land available for lease.
      2440 Goddard Pkwy, Salisbury, MD 21801
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    102 Division St
    Salisbury, MD 21801-4942
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.