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

    3050 Merritt Ml Rd Salisbury, MD 21804-1406

    • Motels
    • 26,014 SF
    • 1.93 lot acres
    OFF-MARKET
    Value Estimations
    $1,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1014581
    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

    • Microtel Inn & Suites by Wyndham Salisbury / Hotel & Motel

    Property Details for 3050 Merritt Ml Rd

    Year built
    2001
    Construction
    WOOD
    Lot size
    1.93 lot acres
    Property size
    26,014 SF
    Zone code
    RC
    Property type
    Motels
    APN
    05-074215
    APU
    5074215

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,090,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,625,000
      6.5%
      $2,425,000
      7%
      $2,250,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5448
    Latitude
    38.3678
    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
    $23,093
    $293,000
    $2,022,100
    $2,315,100
    -
    $293,000
    $2,022,100
    $2,315,100

    Comparable in this City

    • Value Estimation
      $2,480,000
      40,608 SF

      1804 Sweetbay Dr

      MOTEL • 40,608 SF
      1804 Sweetbay Dr, Salisbury, MD 21804-1452
      View Details
    • Value Estimation by Request
      4,181 SF

      121 Naylor Ml Rd

      MOTEL • 4,181 SF
      121 Naylor Ml Rd, Salisbury, MD 21804-2100
      View Details
    • Value Estimation
      $2,035,000
      32,740 SF

      406 Punkin Ct

      MOTEL • 32,740 SF
      406 Punkin Ct, Salisbury, MD 21804-4203
      View Details
    • Value Estimation by Request
      63,536 SF

      128 Troopers Way

      MOTEL • 63,536 SF
      128 Troopers Way, Salisbury, MD 21804-2299
      View Details
    • Value Estimation by Request

      100 Cedar Xing Rd

      Multifamily properties
      100 Cedar Xing Rd, Salisbury, MD 21804
      View Details
    • Value Estimation by Request
      0.92 Acres

      Beaglin Park Dr

      Land • 0.92 Acres
      0 Beaglin Park Dr, Salisbury, MD 21804
      View Details

    Similar Nearby for Sale

    • $1,500,000
      2,544 SF

      Exceptional Horse Farm with Income

      Meticulously maintained horse farm with strong income-generating potential.
      31191 Johnson Rd, Salisbury, MD 21804
      View Details
    • $199,900

      Medical/Professional Office For Sale

      1,125 sqft medical/professional office in The Milford Professional Center.
      106 Milford St, Salisbury, MD 21804
      View Details
    • $199,900
      980 SF

      High-Visibility Salisbury Office Building

      Well-positioned office building with high traffic and flexible zoning.
      111 Naylor St, Salisbury, MD 21804
      View Details
    • $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
    • 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

    Similar Nearby for Lease

    • $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
    • $16 SF/Yr

      Class A Office Suite

      Well-appointed office suite in Salisbury's professional and medical corridor.
      1304 S Division St, Salisbury, MD 21804
      View Details
    • Contact for pricing

      Renovated Office Space Available Now

      Newly renovated office space featuring an open layout and suites.
      224 Phillip Morris Dr, Salisbury, MD 21804
      View Details
    • Contact for pricing

      Salisbury Office Building For Rent

      Office building in Salisbury, MD, near medical and educational facilities.
      400 Snow Hill Rd, Salisbury, MD 21804
      View Details

    Property Visit Statistics

    • Visits by month
      2.4k
    • Visitors by month
      1.3k
    • Avg Time on site
      395 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.
    3050 Merritt Ml Rd
    Salisbury, MD 21804-1406
    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!