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    Property profile & analytics

    2645 Salisbury Blvd Salisbury, MD 21801-2142

    • Strip malls
    • 92,168 SF
    • 13.40 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2022
    $13,457,064
    Value Estimations
    $13,270,000
    Show details
    Cap Rate Potential
    9%
    Strip malls
    Location Intelligence
    Property ID
    US40-0056433
    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

    • Old Navy / Clothing & Fashion Store

    Property Details for 2645 Salisbury Blvd

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    13.40 lot acres
    Property size
    92,168 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    05-069327
    APU
    5069327

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $17,645,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $8,515,000
      Market price range: $2.30M - $9.51M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $17,610,000
      MEDICAL BUILDING
      $16,605,000
      OFFICE BUILDING
      $13,530,000
      RETAIL STORES
      $12,400,000
      RESTAURANT
      $11,855,000
      AUTO REPAIR, GARAGE
      $11,290,000
      INDUSTRIAL (GENERAL)
      $10,585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5648
    Latitude
    38.4137
    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
    $164,491
    $0.00
    $0.00
    $16,490,300
    -
    $3,172,200
    $15,078,300
    $18,250,500

    Comparable in this City

    • Value Estimation
      $2,695,000
      56,301 SF

      2722 Salisbury Blvd

      SHOPPING CENTER, STRIP CENTER • 56,301 SF
      2722 Salisbury Blvd, Salisbury, MD 21801-2190
      View Details
    • Value Estimation
      $995,000
      27,200 SF

      720 Salisbury Blvd

      SHOPPING CENTER, STRIP CENTER • 27,200 SF
      720 Salisbury Blvd, Salisbury, MD 21801-5813
      View Details
    • Value Estimation
      $590,000
      6,100 SF

      1305 Salisbury Blvd

      SHOPPING CENTER, STRIP CENTER • 6,100 SF
      1305 Salisbury Blvd, Salisbury, MD 21801-6845
      View Details
    • Value Estimation
      $1,220,000
      6,000 SF

      1311 Salisbury Blvd

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      1311 Salisbury Blvd, Salisbury, MD 21801-6840
      View Details
    • Value Estimation
      $1,355,000
      5,022 SF

      28772 Ocean Gtwy

      SHOPPING CENTER, STRIP CENTER • 5,022 SF
      28772 Ocean Gtwy, Salisbury, MD 21801-2185
      View Details
    • Value Estimation
      $840,000
      22,500 SF

      2420 Salisbury Blvd

      SHOPPING CENTER, STRIP CENTER • 22,500 SF
      2420 Salisbury Blvd, Salisbury, MD 21801-2189
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      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

      Retail Center on Route 13

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

      Salisbury Retail/Office/Flex Space Available

      Established shopping center with flexible units for lease.
      Civic Ave, 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
    • $12 SF/Yr

      Retail/Office Space Available

      1,400 SF retail/office space in Salisbury, available January 2026.
      258 Tilghman Rd, Salisbury, MD 21801
      View Details
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    Salisbury, MD 21801-2142
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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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