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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2407 Salisbury Blvd Salisbury, MD 21801-2138

    • Office buildings
    • 5,837 SF
    • 13.49 lot acres
    OFF-MARKET
    Last Sale
    Aug 09, 2022
    $5,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1511006
    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

    • Transteck, Inc. International of Delmarva / Car Dealership
    • International of Delmarva Body Shop / Auto Repair Shop
    • Transteck Inc / Auto Repair Shop

    Property Details for 2407 Salisbury Blvd

    Year built
    1975
    Construction
    BRICK
    Lot size
    13.49 lot acres
    Property size
    5,837 SF
    Zone code
    GC
    Property type
    Office buildings
    APN
    05-049687
    APU
    5049687

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5661
    Latitude
    38.4027
    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
    $34,055
    $0.00
    $0.00
    $3,414,000
    -
    $4,508,200
    $369,600
    $4,877,800

    Comparable in this City

    • Value Estimation
      $2,305,000
      9,072 SF

      2765 Salisbury Blvd

      OFFICE BUILDING • 9,072 SF
      2765 Salisbury Blvd, Salisbury, MD 21801-2144
      View Details
    • Value Estimation by Request
      1,204 SF

      1308 Division St

      OFFICE BUILDING • 1,204 SF
      1308 Division St, Salisbury, MD 21801-3636
      View Details
    • Value Estimation
      $1,275,000
      7,680 SF

      115 Division St

      OFFICE BUILDING • 7,680 SF
      115 Division St, Salisbury, MD 21801-4928
      View Details
    • Value Estimation by Request
      1,050 SF

      2312 Allen Dr

      OFFICE BUILDING • 1,050 SF
      2312 Allen Dr, Salisbury, MD 21801-8058
      View Details
    • Value Estimation by Request
      512 SF

      114 Baptist St

      OFFICE BUILDING • 512 SF
      114 Baptist St, Salisbury, MD 21801-4911
      View Details
    • Value Estimation by Request
      2,052 SF

      300 Main St

      OFFICE BUILDING • 2,052 SF
      300 Main St, Salisbury, MD 21801-4925
      View Details

    Similar Nearby for Sale

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      0.19 Acres

      Historic Office Building on Plaza

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    • $550,000
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      Salisbury MD NNN Investment Opportunity

      Single-tenant NNN investment property leased to Amedisys (Homecall).
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      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
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    • $2,100,000
      8,500 SF

      Class A Office Building

      Fully tenanted professional space near Route 50, Salisbury, MD.
      Mount Hermon Rd, Salisbury, MD 21801
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    • $340,000
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      Downtown Salisbury Office Building For Sale

      6,350 SF office building in downtown Salisbury, Maryland.
      122 East Main St, Salisbury, MD 21801
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      17,000 SF

      Professional Office Space For Sale

      Custom office space available in Salisbury, Maryland for sale.
      Pemberton Dr, Salisbury, MD 21801
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    Similar Nearby for Lease

    • $850 /Mo
      3,090 SF

      Downtown Salisbury Office Space Available

      Second floor office space with private entrance in downtown Salisbury.
      122 North Division St, Salisbury, MD 21801
      View Details
    • $1,900 /Mo
      43,560 SF

      Office Space on Wooded Lot

      2,500 sq ft office space on 1.05-acre wooded lot.
      1500 Riverside Drive Ext, Salisbury, MD 21801
      View Details
    • $10 SF/Yr
      17,860 SF

      Route 13 Frontage Retail/Office Space

      Retail/Office space on Route 13 near Salisbury University.
      1516 S Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $2,198 /Mo

      Salisbury MD Commercial Lease Opportunity

      Commercial lease opportunity in Salisbury, MD. Office space available.
      2203 Northwood Dr, Salisbury, MD 21801
      View Details
    • $650 /Mo
      500 SF

      Downtown Salisbury Office/Retail Space

      Office/retail space for lease in downtown Salisbury.
      116 Baptist St, Salisbury, MD 21801
      View Details
    • Contact for pricing
      800 SF

      Route 13 Office Space Available

      800 SF office space for lease on Route 13.
      1610 N Salisbury Blvd, Salisbury, MD 21801
      View Details
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    2407 Salisbury Blvd
    Salisbury, MD 21801-2138
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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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