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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Investment properties
243 Main St Salisbury, MD 21801-5053
Entity Owned
4-yr Hold
Free & Clear
Property ID
US40-0061886
Property summary
AI-generated overview
This exceptional 1,101 square foot office space is ideally situated on the corner of West Main and Mill Streets, offering unparalleled visibility and accessibility. Located within a three-story, 3,303 square foot building constructed in 1880 and extensively renovated in 2015, this single-tenant space presents a unique opportunity. The first-floor unit boasts a thoughtfully designed layout, including three individual offices, a welcoming lobby area, and a convenient bathroom. The property benefits from high traffic counts, ensuring significant exposure for your business. Ample parking is readily available for clients and employees. The building itself is a single structure with no elevators. This turnkey solution requires no further investment, allowing you to focus on your business operations immediately. The property is located in Wicomico County and offers a blend of historic charm and modern functionality. This is a rare opportunity to secure a well-maintained, highly visible office space in a desirable location. The space is ready for immediate occupancy.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1880
Construction
BRICK
Total area
3,303 SF
Lot
0.04 ac (1,755 SF)
Zoning code
CB
APN
09-058664
UPID
US40-0061886
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
-
AAA Salisbury – Insurance/Membership Only Insurance Agency
-
Salisbury Web Design Agency Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
$505k
Comparable Approach
Comparable
$631k
Blend (final)
Blend
$605k
Owner & transaction history
Davis Strategie Development LLC · 4 yrs held
Davis Strategie Development LLC
since 2021
Last sale
$500,000
4 recorded transactions
Zoning & alternative use
CB · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$935,000
+72.6%
Retail stores
$600,000
+11.1%
Office building
$600,000
+11.0%
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
$660,000
ML approach
$705,000
CAP Approach
CAP Return
Estimation
6%
$545,000
6.5%
$505,000
7%
$465,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$540,000
Current use
AUTO REPAIR, GARAGE
$935,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$600,000
Change: +11% · Conversion: Easy
OFFICE BUILDING
$600,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $500k (Oct 5 2021)
Last sale anchor
$500k
Oct 5 2021
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
$183 / 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
$1,881
Tax year 2023
Assessed value
$188,600
Assessed 2023
Previous assessed
$188,600
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$26,300
Assessed improvement
$162,300
Land market value
$26,300
Improvement market value
$162,300
Total market value
$188,600
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1880
Construction
BRICK
Heating
BASEBOARD
Cooling
AC.PACKAGE
Stories
3
Units
5
Total area
3,303 SF
Lot
0.04 ac (1,755 SF)
Zoning code
CB
APN
09-058664
UPID
US40-0061886
Jurisdiction
WICOMICO
Zoning & alternative use
CB · Salisbury, MD
Zoning CB · permitted uses
CB · 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
COMMERCIAL (GENERAL) Current
Est. value
$540,000
AUTO REPAIR, GARAGE
Est. value
$935,000
RETAIL STORES
Est. value
$600,000
OFFICE BUILDING
Est. value
$600,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1880
Construction
BRICK
Heating
BASEBOARD
Cooling
Yes
Stories
3
Units
5
Lot
0.04 ac
Current owner
From public records · entity-resolved
Davis Strategie Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
318 W CARROLL STA, SALISBURY, MD 21801-5305
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2021
$500,000
Davis Strategie Development LLC
A K B Rentals LLC
Deed
—
Jan 3, 2019
—
Albert K Broughton JR.
—
Deed
related
$156,000 · Security Title Gnte Corp/ba
Sep 8, 2004
$180,000
A K B Rentals LLC
Sell,terry R
Grant Deed
$180,000 · Bank Of Delmarva NA
—
—
Albert K Broughton JR.
—
Deed Of Trust
related
$156,000 · Security Title Gnte Corp/ba
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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