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    Property profile & analytics

    1517 N Salisbury Blvd Salisbury, MD 21801

    • Retail space
    • 18,480 SF
    • 1.00 lot acres
    For Sale
    View listing
    $2,199,000
    Last Sale
    Mar 26, 2020
    $1,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1899760
    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

    • Retail space

    Property Details for 1517 N Salisbury Blvd

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.00 lot acres
    Property size
    18,480 SF
    Zone code
    GC
    Property type
    Retail space
    APN
    05-005981
    APU
    5005981

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,645,000
      ML approach
      $1,685,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,560,000
      Market price range: $2.08M - $4.72M
      AI Estimate
      $1,889,000
      Market price range: $926k - $3.65M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5853
    Latitude
    38.382
    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
    2024
    $11,876
    $223,500
    $1,015,100
    $1,238,600
    -
    $223,500
    $1,015,100
    $1,238,600

    Comparable in this City

    • Value Estimation
      $310,000
      1,166 SF

      1227 Pemberton Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,166 SF
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      View Details
    • Value Estimation by Request
      12,209 SF

      1400 Salisbury Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,209 SF
      1400 Salisbury Blvd, Salisbury, MD 21801-7167
      View Details
    • Value Estimation by Request
      5,000 SF

      1005 Salisbury Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1005 Salisbury Blvd, Salisbury, MD 21801
      View Details
    • Value Estimation by Request
      4,050 SF

      652 Salisbury Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,050 SF
      652 Salisbury Blvd, Salisbury, MD 21801-5444
      View Details
    • Value Estimation
      $320,000
      1,200 SF

      806 Ww Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      806 Ww Rd, Salisbury, MD 21801-3028
      View Details
    • Value Estimation by Request
      7,035 SF

      1518 Salisbury Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,035 SF
      1518 Salisbury Blvd, Salisbury, MD 21801-7138
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      200,000 SF

      Salisbury Retail/Office/Flex Space Available

      Established shopping center with flexible units for lease.
      Civic Ave, Salisbury, MD 21801
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    • $399,000
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      Main Street Retail Investment Property

      Income-producing retail property with long-term tenants in Salisbury, MD.
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    • Contact for pricing
      12,600 SF

      High-Traffic Commercial Building For Sale

      12,600 sq ft commercial building in high-traffic location.
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    • Contact for pricing
      3,050 SF

      Freestanding Building Near Salisbury University

      Two-story brick building near Salisbury University with high traffic location.
      1503 S Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $2,199,000
      25,500 SF

      Fully Leased Mixed-Use Complex

      Prominent Salisbury complex with long-term tenants and warehouse space.
      1517 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $1,095,000
      20,662 SF

      Salisbury Retail Center Investment Opportunity

      Two buildings, high-traffic location, excellent potential.
      1217-1223 Salisbury Boulevar, Salisbury, MD 21801
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      3,049 SF

      Downtown Salisbury Retail/Office Space

      Retail/Office space in downtown Salisbury, previously used as a medical office.
      224 Main St, Salisbury, MD 21801
      View Details
    • $1,300 /Mo
      2,514 SF

      Downtown Salisbury Retail/Professional Space

      835 SF retail/professional space in downtown Salisbury for lease.
      146 W Market St, Salisbury, MD 21801
      View Details
    • $14 SF/Yr
      1,479 SF

      Retail Space at Sea Gull Square

      Retail spaces available in mixed-use development on US Route 13.
      1306 S Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $12 SF/Yr

      Renovated Suite in Salisbury Center

      Refreshed suite in Acme-anchored shopping center with high visibility.
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    • $12 SF/Yr

      Retail/Showroom Unit For Lease

      Well-appointed retail/showroom unit with excellent visibility and flexible floorplan.
      809 S Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $12 SF/Yr

      Retail Space in Salisbury Center

      1,400 sq ft retail space in Salisbury, MD.
      258 Tilghman Rd, Salisbury, MD 21801
      View Details
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    Salisbury, MD 21801
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    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
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