Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    413 Martin St Salisbury, MD 21804

    • Warehouses
    • 5,336 SF
    • 0.22 lot acres
    For Sale
    View listing
    $425,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0960696
    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

    • Warehouses

    Property Details for 413 Martin St

    Year built
    1984
    Construction
    BRICK
    Lot size
    0.22 lot acres
    Property size
    5,336 SF
    Property type
    Warehouses
    APN
    05-005221
    APU
    5005221

    Description

    This 6,000 square foot industrial building at 413 Martin Street, Salisbury, MD, presents a unique investment opportunity. The property features a 760 sq ft office and entrance area, and two service bays. Service Bay 1 (2,240 sq ft) includes two 14x24 paint booths (24 years old, not meeting current OSHA standards

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $575,000
      6.5%
      $530,000
      7%
      $495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $242,000
      Market price range: $243k - $1.12M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.5907
    Latitude
    38.3733
    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
    $790
    $24,600
    $54,600
    $79,200
    -
    $24,600
    $54,600
    $79,200

    Comparable in this City

    • Value Estimation by Request
      12,300 SF

      605 Shiloh St

      WAREHOUSE, STORAGE • 12,300 SF
      605 Shiloh St, Salisbury, MD 21804-6067
      View Details
    • Value Estimation by Request
      6,262 SF

      Truitt St

      WAREHOUSE, STORAGE • 6,262 SF
      Truitt St, Salisbury, MD 21804
      View Details
    • Value Estimation by Request
      2,400 SF

      1094 Robert St

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      1094 Robert St, Salisbury, MD 21804
      View Details
    • Value Estimation by Request
      18,725 SF

      196 Beaglin Park Dr

      MINI-WAREHOUSE, STORAGE • 18,725 SF
      196 Beaglin Park Dr, Salisbury, MD 21804-5245
      View Details
    • Value Estimation by Request
      50,690 SF

      410 Railroad Ave

      WAREHOUSE, STORAGE • 50,690 SF
      410 Railroad Ave, Salisbury, MD 21804-3736
      View Details
    • Value Estimation by Request
      4,200 SF

      31867 Shavox Rd

      WAREHOUSE, STORAGE • 4,200 SF
      31867 Shavox Rd, Salisbury, MD 21804-1589
      View Details

    Similar Nearby for Sale

    • $10,000,000
      200,500 SF

      Spacious Warehouse with Development Potential

      200,500 SF warehouse with value-add opportunities in Opportunity Zone.
      300 Moss Hill Ln, Salisbury, MD 21804
      View Details
    • $1,495,000
      27,465 SF

      Salisbury Manufacturing and Distribution Warehouse

      27,465 SF warehouse on 4 acres in Salisbury, MD.
      818 Brown St, Salisbury, MD 21804
      View Details
    • $425,000
      6,000 SF

      Salisbury Industrial Property

      6,000 sq ft Industrial Building, 0.22 Acres
      413 Martin St, Salisbury, MD 21804
      View Details
    • $895,000
      18,640 SF

      Salisbury Industrial Building - Great ROI

      18,640 SF Warehouse, 1.68 Acres, $895K
      712 Brown St, Salisbury, MD 21804
      View Details
    • $8,008,000
      4,505 SF

      7-Eleven NNN Retail Investment

      High-return 7-Eleven, MD. Strong lease.
      31997 Beaver Run Dr, 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

    Similar Nearby for Lease

    • $1,300 /Mo
      3,000 SF

      Salisbury Warehouse with Loading Dock

      3,000 SF office/warehouse with truck height loading dock.
      309 Truitt St, Salisbury, MD 21804
      View Details
    • $2,912 /Mo

      Flex Office and Warehouse Space

      Versatile flex office and warehouse space in Salisbury, MD.
      1305 S Division St, Salisbury, MD 21804
      View Details
    • $1,550 /Mo
      12,200 SF

      Warehouse Space with High Ceilings

      2250 SF warehouse with 20+ ft ceilings for rent.
      926 Eastern Shore Dr, Salisbury, MD 21804
      View Details
    • $6 SF/Yr
      1,400 SF

      Retail Space Available For Rent

      1,400 sq.ft. retail space available for lease.
      232-260 Tilghman Rd, Salisbury, MD 21804
      View Details
    • $7 SF/Yr

      Twilley Centre Retail/Office Space

      Retail, office, and flex space available in Salisbury, Maryland.
      Civic Ave, Salisbury, MD 21804
      View Details
    • $1,467 /Mo
      162,043 SF

      Retail Space in Salisbury, MD

      1,600 sq ft retail space in a desirable location.
      720 E College Ave, Salisbury, MD 21804
      View Details
    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.
    413 Martin St
    Salisbury, MD 21804
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.