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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    560 Riverside Drive Ext, Unit B103 Salisbury, MD 21801

    • Office Properties & Spaces
    • 1,408 SF
    • 0.03 lot acres
    For Sale
    View listing
    $175,000
    Last Sale
    Nov 29, 2022
    $130,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0460078
    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

    • Viertl George C DDS / Dentist
    • Krause Smiles / Dentist
    • Dr. Mark Krause / Dentist
    • John P Houlihan PA / Attorney
    • Davis Christopher / Attorney

    Property Details for 560 Riverside Drive Ext

    Year built
    2015
    Lot size
    0.03 lot acres
    Property size
    1,408 SF
    Zone code
    CBD
    Property type
    Office Properties & Spaces
    APN
    13-059047
    APU
    13059047

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $170,000
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $272,000
      Market price range: $148k - $407k
      AI Estimate
      $219,000
      Market price range: $119k - $309k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $255,000
      Current use
      RETAIL STORES
      $255,000
      Change: +0% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $230,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Wicomico
    State
    Maryland
    Longitude
    -75.6088
    Latitude
    38.3618
    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
    $1,404
    $35,200
    $105,600
    $140,800
    -
    $35,200
    $105,600
    $140,800

    Comparable in this City

    • Value Estimation by Request
      10,000 SF

      Woodbrooke Dr

      Medical offices • 10,000 SF
      0 Woodbrooke Dr, Salisbury, MD 21801
      View Details
    • Value Estimation by Request
      935 SF

      540 Riverside Dr Ste, Unit 4

      CONDOMINIUM OFFICES • 935 SF
      540 Riverside Dr Ste, Salisbury, MD 21801-5352
      View Details
    • Value Estimation by Request
      807 SF

      106 Pne Blf Rd Ste, Unit 15

      CONDOMINIUM OFFICES • 807 SF
      106 Pne Blf Rd Ste, Salisbury, MD 21801-7161
      View Details
    • Value Estimation by Request
      941 SF

      106 Pne Blf Rd Ste, Unit 14

      CONDOMINIUM OFFICES • 941 SF
      106 Pne Blf Rd Ste, Salisbury, MD 21801-7161
      View Details
    • Value Estimation by Request
      1,613 SF

      106 Pne Blf Rd Ste, Unit 16

      CONDOMINIUM OFFICES • 1,613 SF
      106 Pne Blf Rd Ste, Salisbury, MD 21801-7161
      View Details
    • Value Estimation by Request
      5,398 SF

      100 Main St, Unit 5

      CONDOMINIUM OFFICES • 5,398 SF
      100 Main St, Salisbury, MD 21801-5073
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.17 Acres

      Downtown Salisbury Office Suite

      Elegant Office Space, Prime Location
      207 Main St Unit, Salisbury, MD 21801
      View Details
    • $1,300,000
      12,984 SF

      Salisbury Office Building & Warehouse

      Prime Salisbury location, 12,984 SF, 3.33 acres
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      0.07 Acres

      Downtown Salisbury Office Space

      Prime corner office, retail conversion potential.
      224-226 Main St, Salisbury, MD 21801
      View Details
    • $175,000

      Turnkey Office Space For Sale

      Well-maintained office unit with modern renovations and flexible occupancy.
      560 Riverside Drive Ext, Salisbury, MD 21801
      View Details
    • Contact for pricing
      3,050 SF

      Freestanding Building Near Salisbury University

      Two-story brick building near Salisbury University with high traffic location.
      1503 S Salisbury Blvd, Salisbury, MD 21801
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    • $1,090,000

      Warehouse and Office Industrial Property

      Rare industrial property with warehouse and office space for sale.
      111 Olive St, Salisbury, MD 21801
      View Details

    Similar Nearby for Lease

    • $119 SF/Yr
      70,000 SF

      Northgate Business Park Office Space

      Salisbury, MD: Flexible Office Suites Available
      119 Naylor Mill Rd, Salisbury, MD 21801
      View Details
    • Contact for pricing
      1,164 SF

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      Penthouse Office: 1164 sq ft, Downtown Views
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    • $10 SF/Yr
      6,000 SF

      Salisbury Executive Office Suite

      1,800 SF Office Space Available in Salisbury, MD
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      View Details
    • $10 SF/Yr
      3,049 SF

      Downtown Salisbury Retail/Office Space

      Retail/Office space in downtown Salisbury, previously used as a medical office.
      224 Main St, Salisbury, MD 21801
      View Details
    • $2,377 /Mo

      Office Space in Salisbury, MD

      2,387 SF office space available for lease in Salisbury.
      601 E Naylor Mill Rd, Salisbury, MD 21801
      View Details
    • $1,099 /Mo

      Office Space For Rent

      Office space available for lease in Salisbury, Maryland.
      2203 Northwood Dr, Salisbury, MD 21801
      View Details
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    560 Riverside Drive Ext, Unit B103
    Salisbury, MD 21801
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    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
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