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Property profile & analytics
OFF-MARKET
Estimated value
$3,680,000
Medical Office Space
641 Salisbury Blvd Salisbury, MD 21801-5429
Entity Owned
6-yr Hold
Free & Clear
Property ID
US40-1253795
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Construction
STEEL FRAME
Total area
15,305 SF
Lot
2.38 ac (103,673 SF)
APN
13-019703
UPID
US40-1253795
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
Current use
Occupant on record · Public records
-
POA Surgery Center Medical Clinic Hospital
-
Dr. Thomas A. Brandon, MD Physician
-
Scott Gelman Physician
-
Dr. Richard Kang Physician
-
Dr. John Greco Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.12M
Comparable Approach
Comparable
$3.54M
Blend (final)
Blend
$3.68M
Owner & transaction history
Peninsula Health Ventures INC · 6 yrs held
Peninsula Health Ventures INC
since 2020
Last sale
$3.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,375,000
6.5%
$3,115,000
7%
$2,895,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,760,000
Current use
COMMERCIAL (GENERAL)
$2,925,000
Change: +6% · Conversion: Easy
OFFICE BUILDING
$2,245,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$3.68M
Range $3.31M – $4.05M · ±10% · vs last sale $3.75M (May 13 2020)
Last sale anchor
$3.75M
May 13 2020
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
$240 / 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
$34,250
Tax year 2023
Assessed value
$3,433,533
Assessed 2023
Previous assessed
$3,238,067
+6.0% YoY
Effective rate
1.00%
On assessed value
Land market value
$1,190,000
Improvement market value
$2,439,000
Total market value
$3,629,000
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
2001
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
15,305 SF
Lot
2.38 ac (103,673 SF)
APN
13-019703
UPID
US40-1253795
Jurisdiction
WICOMICO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.2M
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
2001
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
2.38 ac
Current owner
From public records · entity-resolved
Peninsula Health Ventures INC
Entity
Free & Clear · 6 yrs held
Mailing address
100 E CARROLL ST, SALISBURY, MD 21801-5422
Ownership since
2020
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
May 13, 2020
$3,750,000
Peninsula Health Ventures INC
Delmarva Surgery Center LLC
Grant Deed
—
Oct 31, 2001
$3,271,730
Delmarva Surgery Center LLC
Peninsula Regional Medical
Grant Deed
$3,000,000 · Allfirst Bank
Apr 18, 2001
—
Salisbury City (md)
Peninsula Regional Medical Cen
Grant Deed
related
—
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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