New search
Property profile & analytics
FOR LEASE
Drive through restaurants
2413 N Salisbury Blvd, Salisbury, MD 21801
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US40-2314792
For Lease
1 / 20
$695,000
2413 N Salisbury Blvd, Salisbury, MD 21801
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,560 SF
Lot
1.06 ac (46,174 SF)
APN
05-112060
UPID
US40-2314792
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
-
Krispy Kreme Bakery Discount Store
-
Emergency Dentist 24/7 Salisbury Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$694k
Blend (final)
Blend
$695k
Owner & transaction history
Ritchie Holdings INC · 9 yrs held
Ritchie Holdings INC
since 2017
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$680,000
+48.6%
Medical building
$640,000
+40.1%
Office building
$525,000
+14.2%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$460,000
Current use
COMMERCIAL (GENERAL)
$680,000
Change: +49% · Conversion: Easy
MEDICAL BUILDING
$640,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$525,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$480,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$435,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$195 / 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
$25,945
Tax year 2023
Assessed value
$2,600,967
Assessed 2023
Previous assessed
$2,597,000
+0.2% YoY
Effective rate
1.00%
On assessed value
Land market value
$1,006,000
Improvement market value
$1,602,900
Total market value
$2,608,900
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
3,560 SF
Lot
1.06 ac (46,174 SF)
APN
05-112060
UPID
US40-2314792
Jurisdiction
WICOMICO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$460,000
COMMERCIAL (GENERAL)
Est. value
$680,000
MEDICAL BUILDING
Est. value
$640,000
OFFICE BUILDING
Est. value
$525,000
RETAIL STORES
Est. value
$480,000
AUTO REPAIR, GARAGE
Est. value
$435,000
RESTAURANT Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Ritchie Holdings INC
Entity
Mailing address
PO BOX 80615, INDIANAPOLIS, IN 46280-0615
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2017
$2,748,000
Ritchie Holdings INC
Chateau Benyay Salisbury LLC
Grant Deed
related
—
Mar 1, 2017
—
Chateau Benyay Salisbury LLC
—
Deed
related
$1,525,000 · First Tennessee Bank NA
Nov 18, 2016
$1,070,000
Chateau Benyay Salisbury LLC
Hall Investments
Grant Deed
—
Jun 29, 2005
$800,000
Hall Investments Of Annapolis INC
Belmont Investments LLC
Grant Deed
—
Apr 27, 2001
$350,000
Seldin Trust
Commercial Investment Ptshp
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
