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    Property profile & analytics

    10720 Ocean Gtwy Berlin, MD 21811

    • Commercial real estate
    • 1.95 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1987761
    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

    • Fowco Golf Carts / Golf Cart Dealer
    • OC Import Service - Bosch Car Service / Auto Repair Shop
    • Bob Holtzman Window Tinting & Truck'n America / Golf Cart Dealer / Window Tinting Service
    • L & D Services & Performance / Auto Parts Store

    Property Details for 10720 Ocean Gtwy

    Year built
    1990
    Lot size
    1.95 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 10720 Ocean Gateway in Berlin, Maryland, offers a versatile space ideal for a variety of businesses. The main building comprises 2,000 square feet, featuring a storefront and oversized commercial garage door, perfect for easy access and loading. Completely renovated in 2020, the building boasts a fresh coat of paint, a brand-new HVAC system, and updated insulation, ensuring energy efficiency and a comfortable working environment. The property's suitability extends to various uses, including detailing businesses for cars or boats. The entire 1.95-acre lot is securely enclosed by a chain-link fence, providing enhanced security. Further enhancing visibility and attracting customers, the roadside signage is scheduled for an upgrade to a modern LED digital board in the near future. For businesses seeking expansion opportunities, additional space of up to 3,000 square feet is expected to become available soon, presenting a unique chance to grow within this established location. This property offers a compelling combination of modern amenities, secure surroundings, and excellent visibility, making it an attractive investment opportunity in a thriving commercial area. The ample parking available on the large lot adds to the property's appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Worcester
    State
    Maryland
    Longitude
    -75.18821
    Latitude
    38.34256

    Comparable in this City

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      21.24 Acres

      Ocean City Retail Space Available

      High-traffic retail space near major anchors.
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      Berlin, MD Waterfront Estate Lot

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    Similar Nearby for Sale

    • $599,900
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      0 Newport Bay Dr, Berlin, MD 21811
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      1.35 Acres

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    • $1,300,000
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      Prime Berlin Commercial Land

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      21.24 Acres

      Ocean City Retail Space Available

      High-traffic retail space near major anchors.
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    • $1,300,000
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      Prime Berlin Commercial Land

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      Berlin, MD Waterfront Estate Lot

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    Similar Nearby for Lease

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      Prime Retail Space Available

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      2,000 SF

      Retail Space on Route 50

      Retail space available on Route 50 in Berlin, MD.
      11408 Ocean Gtwy, Berlin, MD 21811
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    • $29 SF/Yr

      Medical Office Building Opportunity

      Proposed medical office building near Atlantic General Hospital.
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    • $3,400 /Mo

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    Request Owner's contact information
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    10720 Ocean Gtwy
    Berlin, MD 21811
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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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