Medical Office Building
For Sale
Contact for pricing
0 Old Ocean City Blvd, Berlin, MD 21811
Proposed medical office building near Atlantic General Hospital in Berlin, MD.
Property Size12,000 SF
Lot Size1.32 Acres
Price / SF$0.00
Days on Market263
Property Features for 0 Old Ocean City Blvd
General Information
Standard status
Active
Size
12,000 SF
Lot size
1.32 Acres
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$598
Listing Agency:
NAI Coastal
(410) 543-5115
Listed By:
Christian Phillips · License #667548
(410) 430-4427
Source:
Exprealty
Added: Jan 26
Changed: Oct 2
Last Checked: Oct 15 at 12:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Coastal
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A proposed medical office building, planned to be up to two stories, is available for lease. The building will offer up to 12,000 square feet of space. The property is located directly across from Atlantic General Hospital in Berlin, Maryland. It is centrally located just off the highway, providing direct access from major highways and transit routes. The floor plan, building size, and property layout are all negotiable. The lease rate starts at $29 per square foot on a NNN basis.
Key Highlights
- Directly across from Atlantic General Hospital.
- Up to 12,000 square feet available in this Medical Office building.
- Centrally located in Berlin, MD.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,929
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,798,580
$2.8M
Cap Rate 7%
$1,998,986
$2.0M
Cap Rate 9%
$1,554,767
$1.6M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$263.5K $21.96/SF
− Vacancy
−$30.3K −$2.53/SF
EGI
$233.2K $19.43/SF
− OpEx
−$93.3K −$7.77/SF
NOI
$139.9K $11.66/SF
Area
Worcester County, MD
Vacancy
11.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,798,580
Cap Rate 7%
$1,998,986
Cap Rate 9%
$1,554,767
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.80M
NOI $167,832 @ 7.0% cap · market cap 578,731.03%
Second Best
Healthcare Medical
$2.00M
$1.75M – $2.33M
NOI $139,929 @ 7.0% cap · market cap 482,513.79%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,859 @ 7.0% cap · market cap 696,065.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21811, MD
23,907
Population
15,439
Households
1.5
Avg Household Size
52
Median Age
36%
College-Educated
94%
High-School Grad
101.5 sq mi
ZIP Area
236
Density / Sq Mi
$91,293
Median Household Income
$49,929
Median Earnings
$1,398
Median Rent
$362,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Proposed medical office building near Atlantic General Hospital in Berlin, MD.
Where is this medical office space located?
The property is located at 0 Old Ocean City Blvd Berlin, MD.
What are key features of this property?
This property features: Directly across from Atlantic General Hospital.; Up to 12,000 square feet available in this Medical Office building.; Centrally located in Berlin, MD.
