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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Turn key restaurants
2318 Salisbury Blvd, Salisbury, MD 21801-2145
Individually Owned
1-yr Hold
Free & Clear
Property ID
US40-2361311
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,146 SF
Lot
2.05 ac (89,298 SF)
Zoning code
GC
APN
05-107156
UPID
US40-2361311
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
-
Pardon My Cheesesteak Restaurant
-
Buddy V's Cake Slice Restaurant Take-out & Catering
-
The Greene Turtle Sports Bar & Grille Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$375k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$781k
Blend (final)
Blend
$580k
Owner & transaction history
Jamy C Davy · 1 yrs held
Jamy C Davy
since 2025
3 recorded transactions
Zoning & alternative use
GC · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$925,000
+40.1%
Office building
$755,000
+14.2%
Retail stores
$690,000
+4.6%
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
$375,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$660,000
Current use
MEDICAL BUILDING
$925,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$755,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$690,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$630,000
Change: -5% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$590,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$113 / 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
$17,064
Tax year 2023
Assessed value
$1,710,700
Assessed 2023
Previous assessed
$1,710,700
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,105,000
Assessed improvement
$605,700
Land market value
$1,105,000
Improvement market value
$605,700
Total market value
$1,710,700
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,146 SF
Lot
2.05 ac (89,298 SF)
Zoning code
GC
APN
05-107156
UPID
US40-2361311
Jurisdiction
WICOMICO
Zoning & alternative use
GC · Salisbury, MD
Zoning GC · permitted uses
GC · 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
RESTAURANT Current
Est. value
$660,000
MEDICAL BUILDING
Est. value
$925,000
OFFICE BUILDING
Est. value
$755,000
RETAIL STORES
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$630,000
INDUSTRIAL (GENERAL)
Est. value
$590,000
RESTAURANT Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
INDUSTRIAL (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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Jamy C Davy
Individual
Free & Clear · 1 yrs held
Mailing address
PO BOX 11777, WASHINGTON, DC 20008-0977
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2025
—
Jamy C Davy
Salisbury Stake LLC
Deed
—
Jun 18, 2007
$1,900,000
Salisbury Stake, LLC
Aei Income & Growth Fund 24, LLC
Deed
$2,100,000 · Wilmington Savings Fund Society Fsb
Dec 16, 2003
$2,000,000
Aei Income
Specialty Restaurant Group LLC
Grant Deed
related
—
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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