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

    1104 Healthway Dr Salisbury, MD 21804-4469

    • Medical offices
    • 13,382 SF
    • 1.35 lot acres
    OFF-MARKET
    Value Estimations
    $1,655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2306176
    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

    • Andrea F. Patey, LGSW / Doctor
    • Ellen Schwinn / Social Worker
    • Mark Shaffer / Social Worker
    • Hannalee Billings / Social Worker
    • Nicole Krasner / Social Worker

    Property Details for 1104 Healthway Dr

    Year built
    1985
    Construction
    BRICK
    Lot size
    1.35 lot acres
    Property size
    13,382 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    05-014778
    APU
    5014778

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,657,000
      Market price range: $1.01M - $3.10M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,410,000
      Current use
      RESTAURANT
      $2,320,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $2,075,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.579
    Latitude
    38.3698
    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
    $0.00
    $0.00
    $0.00
    $1,442,233
    -
    $168,700
    $1,276,200
    $1,444,900

    Comparable in this City

    • Value Estimation
      $3,190,000
      13,798 SF

      1111 Mt Hermon Rd

      MEDICAL BUILDING • 13,798 SF
      1111 Mt Hermon Rd, Salisbury, MD 21804-5109
      View Details
    • Value Estimation
      $1,980,000
      8,550 SF

      1630 Woodbrooke Dr

      MEDICAL BUILDING • 8,550 SF
      1630 Woodbrooke Dr, Salisbury, MD 21804-8501
      View Details
    • Value Estimation
      $705,000
      7,200 SF

      32071 Beaver Run Dr

      MEDICAL BUILDING • 7,200 SF
      32071 Beaver Run Dr, Salisbury, MD 21804-1704
      View Details
    • Value Estimation by Request
      666 SF

      804 Snow Hl Rd

      MEDICAL CLINIC • 666 SF
      804 Snow Hl Rd, Salisbury, MD 21804-1938
      View Details
    • Value Estimation
      $585,000
      4,100 SF

      100 Power St

      MEDICAL BUILDING • 4,100 SF
      100 Power St, Salisbury, MD 21804-6940
      View Details
    • Value Estimation
      $2,240,000
      9,683 SF

      31519 Winterplace Pkwy

      MEDICAL BUILDING • 9,683 SF
      31519 Winterplace Pkwy, Salisbury, MD 21804-1894
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,046 SF

      Furnished Veterinary/Medical Space Near TidalHealth

      Furnished medical space near TidalHealth, customizable with ample parking.
      404 Snow Hill Rd, Salisbury, MD 21804
      View Details
    • $129,000

      End Unit Overlooking Mallard Landing

      One-bedroom end unit with on-site dining and activities.
      1103 S Schumaker Dr, Salisbury, MD 21804
      View Details
    • $199,900

      Medical/Professional Office For Sale

      1,125 sqft medical/professional office in The Milford Professional Center.
      106 Milford St, Salisbury, MD 21804
      View Details
    • $1,100,000
      5,000 SF

      Established Medical Office Investment

      A-Class office space leased through October 2028.
      6508 Deer Pointe Dr, Salisbury, MD 21804
      View Details
    • $1,290,000
      9,566 SF

      Medical/Professional Building on South Division

      9,566 SF building in Salisbury's premier medical park.
      1340 S Division St, Salisbury, MD 21804
      View Details
    • Contact for pricing
      2,360 SF

      Move-in Ready Office Suite

      Professional office suite in excellent condition, ready for occupancy.
      1324 Belmont Ave, Salisbury, MD 21804
      View Details

    Similar Nearby for Lease

    • $151 SF/Yr
      2,800 SF

      Salisbury Office Space: 1400 SF Available

      Prime Salisbury office, 1400 sq ft, great location.
      401 Eastern Shore Dr, Salisbury, MD 21804
      View Details
    • $25 SF/Yr
      68,540 SF

      Woodbrooke Professional/Medical Office Space

      Professional/medical office space for lease or sale in Salisbury, MD.
      Woodbrooke Dr, Salisbury, MD 21804
      View Details
    • $13 SF/Yr
      200,376 SF

      Prime Commercial Property For Lease

      Versatile medical/professional space in a strategic, accessible location off Route 50.
      31519 Winterplace Pkwy, Salisbury, MD 21804
      View Details
    • $15 SF/Yr
      2,614 SF

      Salisbury Office Space For Lease

      4,021 SF office space available in Salisbury, Maryland.
      1346 S Division St, Salisbury, MD 21804
      View Details
    • $18 SF/Yr
      33,000 SF

      Medical/Professional Office Space For Lease

      New build-to-suit medical/professional office space available for lease.
      Sweetbay Dr, Salisbury, MD 21804
      View Details
    • $15 SF/Yr
      1,307 SF

      Medical/Professional Office in Salisbury, MD

      1,125 SF medical/professional office space for lease.
      106 Milford St, Salisbury, MD 21804
      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.
    1104 Healthway Dr
    Salisbury, MD 21804-4469
    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.