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Property profile & analytics
FOR LEASE
Office buildings
1304 Division St, Salisbury, MD 21804-6999
Entity Owned
Free & Clear
Property ID
US40-0667768
For Lease
1 / 33
$675,000
1304 Division St, Salisbury, MD 21804-6999
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
BRICK
Total area
4,000 SF
Lot
0.54 ac (23,309 SF)
Zoning code
CU
APN
13-058784
UPID
US40-0667768
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
-
Sage Title Group Title Company
-
Edward Jones - Financial Advisor: Sarah L Edwards, CFP® Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$740k
Blend (final)
Blend
$675k
Owner & transaction history
Sublime LLC
Sublime LLC
since 2025
Last sale
$640,000
7 recorded transactions
Zoning & alternative use
CU · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$730,000
+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
$665,000
Current use
RETAIL STORES
$730,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$650,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $640k (Jun 23 2025)
Last sale anchor
$640k
Jun 23 2025
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
$169 / 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
$4,175
Tax year 2023
Assessed value
$418,500
Assessed 2023
Previous assessed
$366,300
+14.3% YoY
Effective rate
1.00%
On assessed value
Land market value
$86,600
Improvement market value
$384,100
Total market value
$470,700
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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1985
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Total area
4,000 SF
Lot
0.54 ac (23,309 SF)
Zoning code
CU
APN
13-058784
UPID
US40-0667768
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
$665,000
RETAIL STORES
Est. value
$730,000
COMMERCIAL (GENERAL)
Est. value
$650,000
OFFICE BUILDING Current
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
1985
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Sublime LLC
Entity
Free & Clear · 0 yrs held
Mailing address
216 W DORCHESTER AVE STE #2, CAMBRIDGE, MD 21613-2472
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2025
$640,000
Sublime LLC
South Division Professional Offices
Deed
—
Jan 13, 2025
$235,000
Jean Renald Janvier
Norma Lee Crockett
Deed
$230,743 · Cmg Mortgage INC
Aug 26, 2024
$307,500
Mohammed Arif
Michael J Koontz
Deed
$276,750 · Prosperity Home Mortgage LLC
Aug 19, 2024
$12,500
Noe Manrique Parra
William V Nutter SR.
Deed
—
Jul 26, 2024
$375,000
Janak Dhakal
Robert L Fuller
Deed
$254,865 · Kwik Mortgage Corp
Jun 23, 2021
—
Joan Elizabeth Simpson
Joan Elizabeth Simpson
Deed
related
—
Apr 18, 2019
$500,000
South Division Professional Offices
Devreco LLC
Deed
$350,000 · Provident State Bank INC
Apr 3, 2017
$315,000
Devreco LLC
Wheatley,kay W
Grant Deed
$378,000 · Farmers Bk/willards
Aug 12, 2008
—
Kay W Wheatley
Wheatley,robert C
Quit Claim Deed
related
—
—
—
Robert C Wheatley
—
Deed Of Trust
related
$120,000 · Bank Of Delmarva NA
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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