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Property profile & analytics
OFF-MARKET
Estimated value
$2,325,000
Strip malls
305 Tilghman Rd Salisbury, MD 21804-1920
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US40-0046494
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1976
Construction
BRICK
Total area
28,800 SF
Lot
11.48 ac (500,069 SF)
Zoning code
C
APN
05-069424
UPID
US40-0046494
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.33M
Blend (final)
Blend
$2.33M
Owner & transaction history
Oak Ridge Baptist Church · 20 yrs held
Oak Ridge Baptist Church
since 2006
3 recorded transactions
Zoning & alternative use
C · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the conservation district is to retain certain open space for its natural beauty and recreation value and to preserve and protect areas of natural resources, including woodlands, wildlife, habitat, scenic areas, wetlands, floodplains and water supply sources
Zone name
Conservation District
General category
OPEN_SPACE
Zone area
419.57 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$3.6M
+3.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,425,000
Current use
AUTO REPAIR, GARAGE
$3,555,000
Change: +4% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,055,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.33M
Range $2.09M – $2.56M · ±10%
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
$81 / 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
$19,953
Tax year 2023
Assessed value
$2,000,267
Assessed 2023
Previous assessed
$1,907,200
+4.9% YoY
Effective rate
1.00%
On assessed value
Land market value
$579,000
Improvement market value
$1,607,400
Total market value
$2,186,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1976
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
28,800 SF
Lot
11.48 ac (500,069 SF)
Zoning code
C
APN
05-069424
UPID
US40-0046494
Jurisdiction
WICOMICO
Zoning & alternative use
C · Salisbury, MDZoning C · permitted uses
C · Salisbury, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the conservation district is to retain certain open space for its natural beauty and recreation value and to preserve and protect areas of natural resources, including woodlands, wildlife, habitat, scenic areas, wetlands, floodplains and water supply sources
Zone name
Conservation District
General category
OPEN_SPACE
Zone area
419.57 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1976
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
11.48 ac
Current owner
From public records · entity-resolved
Oak Ridge Baptist Church
Entity
Mailing address
206 E MAIN ST, SALISBURY, MD 21801-4923
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2024
—
Oak Ridge Baptist Church
—
Deed
related
$966,415 · Shore United Bank NA
Apr 10, 2012
—
Oak Ridge Baptist Church
—
Deed Of Trust
related
$5,130,724 · Pnc Bank
Feb 24, 2006
$9,500,000
Oak Ridge Baptist Church
Salisbury Shopping Center LLC
Grant Deed
$9,750,000 · Mercantile Peninsula Bank
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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