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    Property profile & analytics

    1902 Salisbury Blvd Salisbury, MD 21801-3335

    • Automotive properties
    • 25,642 SF
    • 7.70 lot acres
    OFF-MARKET
    Last Sale
    Sep 08, 2022
    $21,300,000
    Value Estimations
    $16,680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0041344
    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

    • Pohanka Commercial / Car Dealership
    • Pohanka Ford Parts of Salisbury / Auto Parts Store
    • Salisbury Collision Center / Auto Repair Shop
    • Pohanka Ford Service Center / Auto Repair Shop
    • Safford Lincoln of Salisbury Parts / Auto Repair Shop

    Property Details for 1902 Salisbury Blvd

    Year built
    1981
    Lot size
    7.70 lot acres
    Property size
    25,642 SF
    Zone code
    CI
    Property type
    Automotive properties
    APN
    09-004246
    APU
    9004246

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $10,825,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,061,000
      Market price range: $1.75M - $15.5M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5806
    Latitude
    38.3885
    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
    2023
    $55,927
    $2,541,500
    $3,065,200
    $5,606,700
    -
    $2,541,500
    $3,065,200
    $5,606,700

    Comparable in this City

    • Value Estimation
      $745,000
      5,660 SF

      952 Salisbury Blvd

      VEHICLE SALES, RENTALS • 5,660 SF
      952 Salisbury Blvd, Salisbury, MD 21801-6317
      View Details
    • Value Estimation
      $820,000
      3,728 SF

      1922 Salisbury Blvd

      VEHICLE SALES, RENTALS • 3,728 SF
      1922 Salisbury Blvd, Salisbury, MD 21801-3335
      View Details
    • Value Estimation
      $990,000
      20,594 SF

      909 Salisbury Blvd

      VEHICLE SALES, RENTALS • 20,594 SF
      909 Salisbury Blvd, Salisbury, MD 21801-9318
      View Details
    • Value Estimation
      $3,745,000
      10,919 SF

      2015 Salisbury Blvd

      VEHICLE SALES, RENTALS • 10,919 SF
      2015 Salisbury Blvd, Salisbury, MD 21801-3336
      View Details
    • Value Estimation
      $1,480,000
      4,920 SF

      2522 Salisbury Blvd

      VEHICLE SALES, RENTALS • 4,920 SF
      2522 Salisbury Blvd, Salisbury, MD 21801
      View Details
    • Value Estimation
      $7,740,000
      27,432 SF

      2531 Salisbury Blvd

      VEHICLE SALES, RENTALS • 27,432 SF
      2531 Salisbury Blvd, Salisbury, MD 21801-2140
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,599 SF

      Gas Station and C-Store

      Well-trafficked gas station and convenience store for sale.
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    • $2,199,000

      Fully Leased Mixed-Use Complex

      Prominent, fully leased mixed-use complex in central Salisbury.
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    • Contact for pricing
      137,849 SF

      Commercial Land in Salisbury Mall

      137,849 SF commercial land within a super regional mall.
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    • $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
    • Contact for pricing
      14.15 Acres

      Salisbury Retail Space - Prime Location

      High-traffic retail space near Save-A-Lot.
      200 Cypress St, Salisbury, MD 21801
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      66,647 SF

      Retail Space in Salisbury Plaza

      Retail space for lease in North Salisbury Plaza.
      901 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $29 SF/Yr
      5,000 SF

      Prime Retail Pad Site

      5,000 SF pad site with direct access on Route 13.
      2630 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $1,550 /Mo

      Downtown Salisbury Office/Retail Space

      Office/retail space in a freshly redeveloped building in Downtown Salisbury.
      150 West Market St, Salisbury, MD 21801
      View Details
    • $1,650 /Mo
      15,682 SF

      Riverside Drive Commercial Space Available

      800 SF space with drive-thru, suitable for office/retail.
      541 Riverside Drive Ext, Salisbury, MD 21801
      View Details
    • $20 SF/Yr
      67,082 SF

      Retail Space on Salisbury Boulevard

      Retail space with high visibility and ample parking available for lease.
      2320 N Salisbury Blvd, Salisbury, MD 21801
      View Details
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    Salisbury, MD 21801-3335
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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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