Add Listing
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

    298 Tilghman Rd Salisbury, MD 21804-1921

    • Drive through restaurants
    • 3,899 SF
    • 1.13 lot acres
    OFF-MARKET
    Value Estimations
    $1,050,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1023440
    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

    • McDonald's / Restaurant / Take-out & Catering
    • Dunkin' / Cafe & Coffee Shop

    Property Details for 298 Tilghman Rd

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.13 lot acres
    Property size
    3,899 SF
    Property type
    Drive through restaurants
    APN
    05-108918
    APU
    5108918

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,052,000
      Market price range: $406k - $1.05M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $675,000
      Current use
      COMMERCIAL (GENERAL)
      $880,000
      Change: +30% Conversion: Easy
      MEDICAL BUILDING
      $700,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5482
    Latitude
    38.367
    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
    $18,598
    $0.00
    $0.00
    $1,864,500
    -
    $367,200
    $1,501,100
    $1,868,300

    Comparable in this City

    • Value Estimation by Request
      3,200 SF

      403 Punkin Ct

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,200 SF
      403 Punkin Ct, Salisbury, MD 21804-4203
      View Details
    • Value Estimation by Request
      1,755 SF

      301 Carroll St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,755 SF
      301 Carroll St, Salisbury, MD 21804-5505
      View Details
    • Value Estimation
      $2,715,000
      2,785 SF

      31942 Summer Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,785 SF
      31942 Summer Dr, Salisbury, MD 21804-1678
      View Details
    • Value Estimation by Request
      1,575 SF

      1025 Eastern Shr Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,575 SF
      1025 Eastern Shr Dr, Salisbury, MD 21804-6463
      View Details
    • Value Estimation
      $595,000
      2,202 SF

      294 Tilghman Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,202 SF
      294 Tilghman Rd, Salisbury, MD 21804
      View Details
    • Value Estimation by Request
      2,625 SF

      116 Ward St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,625 SF
      116 Ward St, Salisbury, MD 21804-5031
      View Details

    Similar Nearby for Sale

    • $2,950,000
      14,800 SF

      Retail/Office Facility in Salisbury, MD

      14,800 SF retail/office facility on 2.02 acres for sale.
      1316 Mount Hermon Rd, Salisbury, MD 21804
      View Details
    • $125,000

      Seafood Restaurant with Outdoor Space

      Restaurant with indoor and outdoor space, includes all FF&E.
      331 Civic Ave, Salisbury, MD 21804
      View Details
    • Contact for pricing
      4,505 SF

      New 7-Eleven NNN Lease

      New construction 7-Eleven with corporate guarantee and rental increases.
      31997 Beaver Run Dr, Salisbury, MD 21804
      View Details
    • $733,500
      2,960 SF

      M&T Bank Portfolio Opportunity

      Triple Net Investment Sale opportunity comprised of a 3-property portfolio.
      222 Phillip Morris Dr, Salisbury, MD 21804
      View Details
    • Contact for pricing

      New Salisbury Retail/Office Development

      New retail/office development with pad site and high-speed internet.
      1485 Still Meadow Blvd, Salisbury, MD 21804
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      3,200 SF

      Turn Key Drive Thru Opportunity

      Drive-thru restaurant opportunity near Exxon/Tiger Mart, stadium, and college.
      403 Punkin Ct, Salisbury, MD 21804
      View Details
    • $22 SF/Yr

      Retail Pad Site with Drive-Thru

      Retail space with drive-thru, build to suit, outdoor seating.
      Beaglin Park Dr, Salisbury, MD 21804
      View Details
    • $3 SF/Yr
      1,600 SF

      College Ave Shoppes Retail Space

      Prime Salisbury retail space, 1600 sq ft.
      720 E College Ave - Unit D | Salisbury, MD 21804, Salisbury, MD 21804
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 14,820 square feet.
      909 Mount Hermon Rd, Salisbury, MD 21804
      View Details
    • $25 SF/Yr

      Freestanding Retail/Office Building on Route 13

      Prime retail/office space with drive-through, high visibility, and ample parking.
      725 S Salisbury Blvd, Salisbury, MD 21804
      View Details

    Property Visit Statistics

    • Visits by month
      53.2k
    • Visitors by month
      32.5k
    • Avg Time on site
      12 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.
    298 Tilghman Rd
    Salisbury, MD 21804-1921
    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.
    Sign Up Successful!
    You now have access to more from Realmo!