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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Medical Office Space
533 Riverside Dr Salisbury, MD 21801
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-0891370
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1964
Construction
BRICK
Total area
4,253 SF
Lot
0.64 ac (27,960 SF)
Zoning code
CBD
APN
13-039925
UPID
US40-0891370
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
$865k
Comparable Approach
Comparable
$756k
Blend (final)
Blend
$665k
Owner & transaction history
M3 Investments LLC · 4 yrs held
M3 Investments LLC
since 2022
Last sale
$512,500
1 recorded transaction
Zoning & alternative use
CBD · Salisbury, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$815,000
+6.0%
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
$670,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$940,000
6.5%
$865,000
7%
$805,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$765,000
Current use
COMMERCIAL (GENERAL)
$815,000
Change: +6% · Conversion: Easy
OFFICE BUILDING
$625,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $513k (May 17 2022)
Last sale anchor
$513k
May 17 2022
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
$156 / 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
$6,566
Tax year 2023
Assessed value
$658,233
Assessed 2023
Previous assessed
$362,533
+81.6% YoY
Effective rate
1.00%
On assessed value
Land market value
$167,700
Improvement market value
$496,800
Total market value
$664,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1964
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
4,253 SF
Lot
0.64 ac (27,960 SF)
Zoning code
CBD
APN
13-039925
UPID
US40-0891370
Jurisdiction
WICOMICO
Zoning & alternative use
CBD · Salisbury, MD
Zoning CBD · permitted uses
CBD · 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.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$765,000
COMMERCIAL (GENERAL)
Est. value
$815,000
OFFICE BUILDING
Est. value
$625,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1964
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.64 ac
Current owner
From public records · entity-resolved
M3 Investments LLC
Entity
Mailing address
27310 EQUESTRIAN DR, SALISBURY, MD 21801-1827
Ownership since
2022
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
May 17, 2022
$512,500
M3 Investments LLC
Richard M Reddish
Deed
$664,000 · The Bank Of Delmarva
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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