Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11615 COASTAL Hwy 5 Ocean City, MD 21842

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $675 /Mo

    Office space for rent in mid-uptown location with utilities.

    Type:Commercial
    Added:
    Mar 24, 2026
    Days on Market:
    12
    Last Refresh:
    Mar 20 at 12:01 pm

    Property Features for 11615 COASTAL Hwy 5

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    Nolen J Graves

    Listing agent Nolen J Graves

    Listing office Mary McCracken Realty, Inc

    Listing date Mar 24, 2026

    Source Elliman

    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 Mary McCracken Realty, Inc

    Overview

    Office Space with Utilities Included

    This office space is available for rent in a mid-uptown location. The rental rate includes all utilities. A shared common reception area is available. Additional adjoining offices are also available.
    Location Intelligence

    Current Use by Public Records

    The Original Fractured Prune Bakery Shore Results Realty ... Real Estate Agency Kimberly McGuigan, Shore ... Real Estate Agency At The Beach Real Estate Real Estate Agency Hardy Environmental Services Construction Company

    Suggested Use

    Law Firm Spa & Massage Center Dental Office Restaurant Real Estate Agency Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean City
    County
    Worcester
    State
    Maryland
    Longitude
    -75.0567916
    Latitude
    38.4220251

    Nearby Similar for Lease

    • Contact for pricing

      Ocean City Office Space Available

      First floor office suite in Ocean City, Maryland for lease.
      5700 COASTAL Highway, OCEAN CITY, MD 21842
      View Details
    • $20/mo

      Prime Commercial Space in Ocean City

      Highly visible 2,000 sq.ft. space ideal for retail or office.
      12638 OCEAN Gateway unit: 11, OCEAN CITY, MD 21842
      View Details
    • $24/mo

      Prime Retail Space on Ocean Gateway

      End-cap unit in high-traffic Ocean City location.
      12741 OCEAN Gateway unit: Suite 860, OCEAN CITY, MD 21842
      View Details
    • $26/mo

      Prime Retail Space in Ocean City

      End-cap unit with potential for outdoor seating in vibrant location.
      12741 OCEAN Gateway unit: Suite 919, OCEAN CITY, MD 21842
      View Details
    • $25/mo

      Prime Retail Space in Ocean City

      Retail space available in vibrant Ocean City destination.
      12741 OCEAN Gateway unit: Suite 640, OCEAN CITY, MD 21842
      View Details
    • $23/mo

      Outlets Ocean City Retail Space

      Prime retail leasing opportunity in vibrant Ocean City, Maryland.
      12741 OCEAN Gateway unit: Suite 900, OCEAN CITY, MD 21842
      View Details
    • $20/mo

      Prime Retail/Office Space on Route 50

      Highly visible 2,000 sq.ft. retail/office unit on Ocean Gateway.
      12638 Ocean Gtwy, Ocean City, MD 21842
      View Details
    • $25/mo

      Prime Retail Space in Ocean City

      Exceptional visibility and strong traffic location in Ocean City, MD.
      12741 OCEAN Gateway unit: Suite 770, OCEAN CITY, MD 21842
      View Details
    • $24/mo

      Retail Space in Ocean City

      Former Hanes store with open floor plan and fitting rooms.
      12741 OCEAN Gateway unit: Suite 840, OCEAN CITY, MD 21842
      View Details
    • $20/mo

      Prime Retail/Office Space Available

      Highly visible retail or office space on Ocean Gateway.
      12638 Ocean Gtwy, Ocean City, MD 21842
      View Details
    • $22/mo

      Ocean City Retail Space Available

      Premium retail space in high-traffic Ocean City location.
      8001 Coastal Highway, Ocean City, MD 21842
      View Details
    • $21/mo

      Prime Retail Space in Ocean City

      Retail space available in busy Ocean City Square.
      11901 Coastal Hwy, Ocean City, MD
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent in mid-uptown location with utilities.
    Where is this office units located?
    The property is located at 11615 COASTAL Hwy 5 Ocean City, MD.
    What is the lease rate?
    The lease rate is $675 /Mo.
    What are key features of this property?
    This property features: All utilities included in rent.; Great Mid‑Uptown location.; Shared common reception area.
    (410) 430-8332
    We can help!
    Listing Contact
    Nolen J Graves
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!