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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Office Spaces
106 Milford St Ste 201 Salisbury, MD 21804-6959
Entity Owned
1-yr Hold
Free & Clear
Property ID
US40-1091341
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2015
Total area
6,670 SF
Lot
0.15 ac (6,670 SF)
Zoning code
CU
APN
13-060800
UPID
US40-1091341
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.22M
Owner & transaction history
Chesapeake Pediatric Realty LLC · 1 yrs held
Chesapeake Pediatric Realty LLC
since 2025
3 recorded transactions
Zoning & alternative use
CU · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+70.1%
Industrial (general)
$1.3M
+21.3%
Retail stores
$1.2M
+9.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,110,000
Current use
AUTO REPAIR, GARAGE
$1,890,000
Change: +70% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,345,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$1,215,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,080,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$182 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,068
Tax year 2023
Assessed value
$708,600
Assessed 2023
Previous assessed
$708,600
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$177,100
Assessed improvement
$531,500
Land market value
$177,100
Improvement market value
$531,500
Total market value
$708,600
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2015
Heating
NONE
Stories
1
Units
1
Total area
6,670 SF
Lot
0.15 ac (6,670 SF)
Zoning code
CU
APN
13-060800
UPID
US40-1091341
Jurisdiction
WICOMICO
Zoning & alternative use
CU · Salisbury, MD
Zoning CU · permitted uses
CU · Salisbury, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2015
Heating
NONE
Stories
1
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Chesapeake Pediatric Realty LLC
Entity
Free & Clear · 1 yrs held
Mailing address
106 MILFORD ST STE #201, SALISBURY, MD 21804-6959
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2025
—
Chesapeake Pediatric Realty LLC
T And T Realty LLC
Deed
—
Dec 28, 2004
$650,000
T & T Realty LLC
Peninsula Regional Medical Cente
Grant Deed
$880,000 · Mercantile Peninsula Bk
—
—
Chesapeake Pediatric Realty Ll
—
Loan Modification
related
$3,000,000 · Pnc Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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