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Property profile & analytics
OFF-MARKET
Estimated value
$10,685,000
Community centers
2618 Salisbury Blvd, Salisbury, MD 21801-2194
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US40-1413795
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
44,260 SF
Lot
4.62 ac (201,247 SF)
Zoning code
C
APN
09-012184
UPID
US40-1413795
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
-
Dr. John Geremia & Associates Physician
-
Barnes & Noble (Bike/Boat/Book/etc) Store
-
Great Clips Hair Salon
-
Eyemart Express Ophthalmologist (Bike/Boat/Book/etc) Store
-
Pivot PT - Salisbury MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.54M
CAP Approach
CAP
$11.71M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.69M
Owner & transaction history
Duke Salisbury LLC · 3 yrs held
Duke Salisbury LLC
since 2023
Last sale
$9.8M
7 recorded transactions
Zoning & alternative use
C · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.5M
+225.3%
Medical building
$8.0M
+206.8%
Office building
$6.5M
+150.0%
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
$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
Change: +225% · Conversion: Easy
MEDICAL BUILDING
$7,975,000
Change: +207% · Conversion: Difficult
OFFICE BUILDING
$6,500,000
Change: +150% · Conversion: Moderate
Blend value · Realmo final
$10.69M
Range $9.62M – $11.75M · ±10% · vs last sale $9.84M (Jun 9 2023)
Last sale anchor
$9.84M
Jun 9 2023
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
$241 / 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
$46,918
Tax year 2023
Assessed value
$4,703,600
Assessed 2023
Previous assessed
$4,703,600
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$2,541,000
Assessed improvement
$2,162,600
Land market value
$2,541,000
Improvement market value
$2,162,600
Total market value
$4,703,600
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
44,260 SF
Lot
4.62 ac (201,247 SF)
Zoning code
C
APN
09-012184
UPID
US40-1413795
Jurisdiction
WICOMICO
Zoning & alternative use
C · Salisbury, MD
Zoning C · permitted uses
C · 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)
Est. value
$8.5M
MEDICAL BUILDING
Est. value
$8.0M
OFFICE BUILDING
Est. value
$6.5M
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
4.62 ac
Current owner
From public records · entity-resolved
Duke Salisbury LLC
Entity
Mailing address
11421 CRONHILL DR STE G, OWINGS MILLS, MD 21117-2222
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2023
$9,838,500
Duke Salisbury LLC
Salisbury Promenade LLC
Deed
$7,378,875 · Farmers & Merchants Bank
Feb 6, 2020
—
Salisbury Promenade LLC
—
Deed
related
$472,500 · Hebron Savings Bank
Dec 18, 2019
$4,725,000
Salisbury Promenade LLC
C2 North Salisbury Boulevard LLC
Special Warranty Deed
$3,307,500 · Hebron Savings Bank
May 5, 2016
$3,900,000
Gecmc 2005-c2 North Salisbury
Mccormack Timothy F
Trustees Deed
related
—
Apr 6, 2005
—
Salisbury Bdb LLC
—
Deed Of Trust
related
$8,200,000 · General Electric Capital Corp
Jun 18, 2002
$1,100,000
Salisbury Bdb LLC
Brittingham,walter G
Grant Deed
—
—
—
Salisbury Bdb LLC
—
Deed Of Trust
related
$8,200,000 · General Electric Capital Corp
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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