Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2618 Salisbury Blvd Salisbury, MD 21801-2194

    • Community centers
    • 44,260 SF
    • 4.62 lot acres
    OFF-MARKET
    Last Sale
    Jun 09, 2023
    $9,838,500
    Value Estimations
    $10,685,000
    Show details
    Cap Rate Potential
    6.6%
    Community centers
    Location Intelligence
    Property ID
    US40-1413795
    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

    • Dr. John Geremia & Associates / Optometrist / Eye Care Center
    • Barnes & Noble / Book Store / Cafe
    • Great Clips / Hair Salon
    • Eyemart Express / Eye Care Center / Optician
    • Pivot PT - Salisbury MD / Physical Therapy Clinic / Sports Medicine Clinic

    Property Details for 2618 Salisbury Blvd

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.62 lot acres
    Property size
    44,260 SF
    Zone code
    C
    Property type
    Community centers
    APN
    09-012184
    APU
    9012184

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,505,000
      ML approach
      $10,540,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,680,000
      6.5%
      $11,705,000
      7%
      $10,870,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $8,455,000
      MEDICAL BUILDING
      $7,975,000
      OFFICE BUILDING
      $6,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5682
    Latitude
    38.4129
    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
    $46,918
    $2,541,000
    $2,162,600
    $4,703,600
    -
    $2,541,000
    $2,162,600
    $4,703,600

    Comparable in this City

    • Value Estimation
      $1,310,000
      21,218 SF

      1306 Salisbury Blvd

      MINI-MALL • 21,218 SF
      1306 Salisbury Blvd, Salisbury, MD 21801-6838
      View Details
    • Value Estimation
      $625,000
      10,080 SF

      1405 Salisbury Blvd

      MINI-MALL • 10,080 SF
      1405 Salisbury Blvd, Salisbury, MD 21801-7156
      View Details
    • Value Estimation
      $2,245,000
      77,623 SF

      751 Salisbury Blvd

      MINI-MALL • 77,623 SF
      751 Salisbury Blvd, Salisbury, MD 21801-5812
      View Details
    • Value Estimation by Request
      3,352 SF

      1307 Salisbury Blvd

      MINI-MALL • 3,352 SF
      1307 Salisbury Blvd, Salisbury, MD 21801-6840
      View Details
    • Value Estimation
      $665,000
      8,970 SF

      2737 Salisbury Blvd

      MINI-MALL • 8,970 SF
      2737 Salisbury Blvd, Salisbury, MD 21801-2144
      View Details
    • Value Estimation
      $5,805,000
      20,500 SF

      1501 Ct Plz Ln Ste, Unit 32

      MINI-MALL • 20,500 SF
      1501 Ct Plz Ln Ste, Salisbury, MD 21801-7197
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      137,849 SF

      Salisbury Shopping Center For Sale

      Prime Retail Center, 137,849 SF
      2304 Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $2,199,000
      25,500 SF

      Fully Leased Mixed-Use Complex

      Prominent Salisbury complex with long-term tenants and warehouse space.
      1517 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • Contact for pricing
      137,849 SF

      Commercial Land in Salisbury Mall

      137,849 SF commercial land within a super regional mall.
      2300 N Salisbury Blvd, Salisbury, MD 21801
      View Details
    • Contact for pricing
      151,712 SF

      151,712 SF Salisbury Shopping Center

      151,712 SF shopping center on U.S. Route 50.
      258 Tilghman Rd, Salisbury, MD 21801
      View Details
    • Contact for pricing
      200,000 SF

      Salisbury Retail/Office/Flex Space Available

      Established shopping center with flexible units for lease.
      Civic Ave, Salisbury, MD 21801
      View Details
    • Contact for pricing
      84,523 SF

      Retail Center on Route 13

      Well-maintained shopping center with high visibility and easy access.
      809 S Salisbury Blvd, Salisbury, MD 21801
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Retail Space in Salisbury, MD

      1,400 sq ft retail/office space available January 2026.
      258 Tilghman Rd, Salisbury, MD 21801
      View Details
    • $12 SF/Yr

      Renovated Suite in Salisbury Center

      Refreshed suite in Acme-anchored shopping center with high visibility.
      809 S Salisbury Blvd, Salisbury, MD 21801
      View Details
    • $12 SF/Yr

      Retail Space in Salisbury Center

      1,400 sq ft retail space in Salisbury, MD.
      258 Tilghman Rd, Salisbury, MD 21801
      View Details
    • $1,466 /Mo

      Retail Space in Market Place East

      1,200 sqft retail space available for lease.
      945 Mt, Salisbury, MD 21801
      View Details
    • $10 SF/Yr

      Retail Space in Pecan Square

      Highly visible retail space with ample parking and high traffic.
      1200 Nanticoke Rd, 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

    Property Visit Statistics

    • Visits by month
      32.0k
    • Visitors by month
      27.4k
    • Avg Time on site
      37 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2618 Salisbury Blvd
    Salisbury, MD 21801-2194
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.