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Property profile & analytics
FOR LEASE
Auto shops

1628 N Salisbury Blvd Salisbury, MD 21801

4,794 SF 2.24 ac lot Built 1997
Individually Owned 13-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US40-1904110
Property summary
AI-generated overview

This single-story, 18,560-square-foot retail building located at 1628 N Salisbury Blvd in Salisbury, Maryland, presents a unique investment opportunity. Constructed in 1997, the property sits on a single building in Wicomico County and currently features a single tenant, Pep Boys, operating under a long-term ground lease. The existing Pep Boys operation occupies a portion of the building, focusing on tire and auto repair services. However, a significant portion of the building, totaling 9,735 square feet, is currently vacant and available for lease. This vacant space offers considerable flexibility for a variety of uses. Potential tenants could include medical facilities (dialysis centers, plasma centers), childcare centers, pet daycares, discount retailers, furniture stores, tool and hardware stores, or automotive-related businesses that do not directly compete with the existing Pep Boys tire and repair services (e.g., collision centers, auto glass repair shops, or auto parts stores that focus on a different niche). The building's size allows for flexibility, with spaces ranging from approximately 3,200 to 11,500 square feet. Negotiable cash allowances may be available for suitable tenants, contingent upon a rent structure that ensures a reasonable return on investment for property improvements. This property offers a strong location in Salisbury, Maryland, with excellent visibility and access.

Property profile
Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1997
Construction BRICK
Total area 4,794 SF
Lot 2.24 ac (97,507 SF)
Zoning code GC
APN 09-054111
UPID US40-1904110
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
  • Pep Boys (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.06M
Blend (final) Blend
$1.48M
Owner & transaction history
Pep Boys-manny Moe · 13 yrs held
Pep Boys-manny Moe
since 2012
1 recorded transaction
2012
Price N/A
Zoning & alternative use
GC · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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