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Financial
Distress signals
Property profile

118 North Division St 204 Salisbury, MD 21801

FOR LEASE
Other investment properties
Property ID
US40-0909257
7,728 SF 0.1 ac lot Built 1923
Last sale Dec 2013 · $340,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 12-yr Hold Held for 12 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This third-floor office unit provides 226 square feet of workspace in a building constructed in 1923. Access to the unit is controlled through a secured entry door with coded access. The property is located in downtown Salisbury, within walking distance of retail shops, restaurants, and other local businesses, and is configured for office use.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

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

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$5k
Tax billed · 2023
Assessed value$470k
Assessed land$67k
Assessed improvement$403k
Effective rate1.00%

Value estimate

· Oct 2026
$320k
$288k – $352k
CAP approach$1.18M
Submarket $/SF estimate$1.57M
NOI build-up
Gross scheduled income$17k
Vacancy & credit loss−$4k
Operating expenses−$3k
NOI · 1,542.31% cap applied$10k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$164/SF
ZIP average, outlier-cleaned · 33 recorded sales of this use type
Observed band · Q1–Q3$81 – $333

Cap rate analysis

How does the asset earn?
1,542.31%
$10k 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?
CBD
The purpose of the central business district is to maintain and strengthen the role of the downtown area as the community and regional ce...
General categoryCIVIC_INSTITUTIONAL
JurisdictionWICOMICO

Location intelligence

Which uses thrive at this corner?
Best fit: Dry Cleaner
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Dry Cleaner9.2
Watch Repair Shop8.7
Tailor Shop8.5

Location

118 North Division St, Unit 204 Salisbury, MD 21801
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 · 12 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
305 Division, Salisbury, MD 21801-4218 $350,000 Sep 2023 5,025 SF
102 Division, Salisbury, MD 21801-4942 $252,500 Jul 2023 2,688 SF
300 Main, Salisbury, MD 21801-4908 $410,000 May 2021 5,794 SF
117 Main, Salisbury, MD 21801-4983 $725,000 Jan 2021 11,182 SF
123 Camden, Salisbury, MD 21801-5029 $305,000 Dec 2020 2,928 SF
28721 Ocean, Salisbury, MD 21801-2151 $160,000 Nov 2020 8,273 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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