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    Outlets Ocean City Retail Space Title is generated by Realmo AI

    12741 OCEAN Gateway, Ocean City, MD 21842

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    For Lease
    $23 SF/Yr $12,071/Mo (calc)

    CommercialLease - OCEAN CITY, MD

    Type:Retail
    Property size:
    6,298 SF
    Lot size:
    21.15 Acres
    Added:
    Feb 5, 2026
    Days on Market:
    116
    Last Refresh:
    Jun 1 at 5:06 pm

    Property Features for 12741 OCEAN Gateway

    General Information

    Property type
    Other
    Property subtype
    Retail
    Parking
    600
    Parking features
    Parking Lot
    Standard status
    Active
    Size
    6,298 SF
    Lot size
    21.15 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1996
    Building materials
    Mixed

    We can help!

    Listing Contact
    Kelly Jeter
    Kelly Jeter

    Listing agent Kelly Jeter License #666318

    Listing office SVN/Miller Commercial Real Estate 206 E Main Street, Salisbury, MD

    Listing date Feb 5, 2026

    MLS# MDWO2035908

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime leasing opportunity in Outlets Ocean City, a dominant retail destination with over 8 million annual visitors.
    • Located on Ocean Gateway with high traffic volume (+\/-32,700 VPD) and close proximity to the Boardwalk and beaches.
    • Anchored by top national retailers like HomeGoods, Old Navy, Under Armour, and Coach, creating a powerful shopping environment.
    • Flexible retail and service spaces suitable for various businesses (retail, fitness, restaurant, entertainment, essential services).
    • Benefits from affluent demographics, nearby hotel density, and limited competitive retail supply.
    • New ownership/management dedicated to high maintenance, customer service, and business growth.

    Overview

    This commercial space, formerly a Jos. A Bank, features an open floor plan, two restrooms, two fitting rooms, and a storage area. The space offers flexible options for subdivision from 2,000 to 6,298 square feet. Additional space is available at the Outlets up to 20,000 square feet. Outlets Ocean City is located along Ocean Gateway, which experiences approximately 32,700 vehicles per day, and is just minutes from the Boardwalk and beaches. The location benefits from high visibility and strong traffic. The property is anchored by national retailers, including HomeGoods, Old Navy, Under Armour, and Coach. This creates a strong shopping environment with consistent year-round and peak-season activity. The property is located in a destination that attracts over 8 million annual visitors and experiences a seasonal population increase to over 320,000. The property is ideal for retail, boutique fitness, restaurant, entertainment, and essential service users. The Outlets Ocean City are under new ownership and management, with a focus on maintenance, customer service, and business growth and development. The property is situated on a 21.15-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    J.Crew Factory Clothing & Fashion Store Chico's Off The Rack Clothing & Fashion Store Hanesbrands (Bike/Boat/Book/etc) Store rue21 Fashion Accessories Store The Children's Place Outlet Clothing & Fashion Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocean City
    County
    Worcester
    State
    Maryland
    Longitude
    -75.1068943
    Latitude
    38.337627

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    FAQs

    What type of property is this?
    Retail space - Prime retail leasing opportunity in vibrant Ocean City, Maryland.
    Where is this retail space located?
    The property is located at 12741 OCEAN Gateway Ocean City, MD.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Prime leasing opportunity in Outlets Ocean City, a dominant retail destination with over 8 million annual visitors.; Located on Ocean Gateway with high traffic volume (+\/-32,700 VPD) and close proximity to the Boardwalk and beaches.; Anchored by top national retailers like HomeGoods, Old Navy, Under Armour, and Coach, creating a powerful shopping environment.
    (410) 543-2440
    We can help!
    Listing Contact
    Kelly Jeter
    Kelly Jeter
    Real Estate License ID: 666318
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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.

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