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Property profile & analytics
OFF-MARKET
Estimated value
$2,285,000
Specialty properties
1109 Schumaker Dr Salisbury, MD 21804-9256
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US40-0741727
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,431 SF
Lot
8.74 ac (380,714 SF)
Zoning code
R10
APN
08-038767
UPID
US40-0741727
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
Current use
Occupant on record · Public records
-
Lakeside At Mallard Landing Nursing Home Retirement Community
-
Sundance At Lakeside Mallard Nursing Home Retirement Community
-
Laurie Miller Physician
-
Elizabeth Klos Physician
-
Bonnie Meehan Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.29M
Owner & transaction history
Nhi-reit Of Dsl Propco LLC · 7 yrs held
Nhi-reit Of Dsl Propco LLC
since 2019
4 recorded transactions
Zoning & alternative use
R10 · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
AL CODE AND SECTION 4.04 OF ARTICLE 66B OF THE ANNOTATED CODE OF MARYLAND FOR THE PURPOSE OF AMENDING SECTIONS 17.156.030, 17.160.030, AND 17.04. 120 TO ADD SOLAR FARMS AND A DEFINITION OF SOLAR FARMS IN THE R- 5, R- 8, R- 10, R- 5A, R- 8A, AND R- 10A RESIDENTIAL DISTRICTS. WHEREAS, the ongoing application, administration and enforcement of Title 17, Zoning…
Zone name
Residential
General category
RESIDENTIAL
Zone area
703.14 ac
Source
Ord2410
Top alternative use upside
Office building
$3.5M
+40.5%
Retail stores
$3.1M
+24.1%
Auto repair, garage
$2.8M
+11.9%
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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$2,475,000
Current use
OFFICE BUILDING
$3,475,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$3,070,000
Change: +24% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,770,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,670,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$2.29M
Range $2.06M – $2.51M · ±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
$102 / 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
$161,629
Tax year 2023
Assessed value
$16,203,400
Assessed 2023
Previous assessed
$16,203,400
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$874,000
Assessed improvement
$15,329,400
Land market value
$874,000
Improvement market value
$15,329,400
Total market value
$16,203,400
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Units
85
Total area
22,431 SF
Lot
8.74 ac (380,714 SF)
Zoning code
R10
APN
08-038767
UPID
US40-0741727
Jurisdiction
WICOMICO
Zoning & alternative use
R10 · Salisbury, MDZoning R10 · permitted uses
R10 · Salisbury, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
AL CODE AND SECTION 4.04 OF ARTICLE 66B OF THE ANNOTATED CODE OF MARYLAND FOR THE PURPOSE OF AMENDING SECTIONS 17.156.030, 17.160.030, AND 17.04. 120 TO ADD SOLAR FARMS AND A DEFINITION OF SOLAR FARMS IN THE R- 5, R- 8, R- 10, R- 5A, R- 8A, AND R- 10A RESIDENTIAL DISTRICTS. WHEREAS, the ongoing application, administration and enforcement of Title 17, Zoning of the Salisbury Municipal Code, demonstrates a need for periodic review, evaluation,
Zone name
Residential
General category
RESIDENTIAL
Zone area
703.14 ac
Source
Ord2410
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$2.5M
OFFICE BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
85
Lot
8.74 ac
Current owner
From public records · entity-resolved
Nhi-reit Of Dsl Propco LLC
Entity
Mailing address
222 ROBERT ROSE DR, MURFREESBORO, TN 37129-6346
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2019
$17,071,045
Nhi-reit Of Dsl Propco LLC
Salisbury Senior Hsng I Propco
Grant Deed
—
Sep 18, 2018
—
Salisbury Senior Housing I Propco L
—
Deed
related
$22,250,000 · Wells Fargo Bank NA
Dec 22, 2015
$5,273,000
Salisbury Senior Housing I Propco L
Senior Lifechoice Of Salisbury LLC
Special Warranty Deed
$19,677,000 · Wells Fargo Bank NA
—
—
Senior Lifechoice Of Salisbury Ll
—
Deed Of Trust
related
$17,000 · Privatebank & Trust
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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