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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Investment properties
118 Division St Salisbury, MD 21801-5049
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US40-0909257
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1923
Construction
BRICK
Total area
7,728 SF
Lot
0.1 ac (4,483 SF)
Zoning code
CBD
APN
09-054642
UPID
US40-0909257
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
-
DEVRECO Consultant
-
Vision Lodging Solutions Advertising Agency Marketing & Advertising
-
RBR Homes Construction Company
-
Lynette Catha REALTOR(R) Hileman Real Estate Real Estate Agency
-
mm wellness consulting Medical Certificate Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.53M
Owner & transaction history
Devreco LLC · 12 yrs held
Devreco LLC
since 2013
2 recorded transactions
Zoning & alternative use
CBD · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+72.6%
Industrial (general)
$1.6M
+23.0%
Retail stores
$1.4M
+11.1%
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%
$1,275,000
6.5%
$1,175,000
7%
$1,095,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,270,000
Current use
AUTO REPAIR, GARAGE
$2,190,000
Change: +73% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,560,000
Change: +23% · Conversion: Moderate
RETAIL STORES
$1,410,000
Change: +11% · Conversion: Easy
OFFICE BUILDING
$1,410,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±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
$197 / 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
$4,689
Tax year 2023
Assessed value
$470,100
Assessed 2023
Previous assessed
$470,100
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$67,200
Assessed improvement
$402,900
Land market value
$67,200
Improvement market value
$402,900
Total market value
$470,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1923
Construction
BRICK
Heating
HOT WATER
Stories
3
Units
1
Total area
7,728 SF
Lot
0.1 ac (4,483 SF)
Zoning code
CBD
APN
09-054642
UPID
US40-0909257
Jurisdiction
WICOMICO
Zoning & alternative use
CBD · Salisbury, MD
Zoning CBD · permitted uses
CBD · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
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
1923
Construction
BRICK
Heating
HOT WATER
Stories
3
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Devreco LLC
Entity
Mailing address
150 W MARKET ST STE #101, SALISBURY, MD 21801-5138
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2013
$340,000
Devreco LLC
Gilkerson Properties LLC
Grant Deed
$340,000 · Hebron Savings Bank
Jun 30, 2011
$150,000
Gilkerson Properties LLC
C And C LLC
Deed
$120,000 · The Bank Of Delmarva
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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