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Property profile & analytics
OFF-MARKET
Theaters & concert halls
300 College Ave Salisbury, MD 21804-6599
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US40-1450999
Property profile
Verified
Property type
Theaters & concert halls
Use group
AUDITORIUM
Year built
2010
Construction
CONCRETE
Total area
18,951 SF
Lot
35.15 ac (1,531,134 SF)
Zoning code
R8
APN
13-052859
UPID
US40-1450999
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
-
Bennett Junior High High School
-
James M Bennett High School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Milstone Tower Limited Partnership · 8 yrs held
Milstone Tower Limited Partnership
since 2017
1 recorded transaction
Zoning & alternative use
R8 · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Assessed value
$61,457,667
Assessed 2023
Previous assessed
$60,701,533
+1.2% YoY
Land market value
$1,757,500
Improvement market value
$60,456,300
Total market value
$62,213,800
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
Theaters & concert halls
Use group
AUDITORIUM
Status
Off-Market
Year built
2010
Construction
CONCRETE
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Units
2
Total area
18,951 SF
Lot
35.15 ac (1,531,134 SF)
Zoning code
R8
APN
13-052859
UPID
US40-1450999
Jurisdiction
WICOMICO
Zoning & alternative use
R8 · Salisbury, MD
Zoning R8 · permitted uses
R8 · 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.
Building & site characteristics
From public records
Year built
2010
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
35.15 ac
Current owner
From public records · entity-resolved
Milstone Tower Limited Partnership
Entity
Mailing address
PO BOX 1538, SALISBURY, MD 21802-1538
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2017
—
Milstone Tower Limited Partnership
—
Deed
related
$21,500 · Cit Bank NA
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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