Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Retail Spaces Available Title is generated by Realmo AI

    11328 SAMUEL BOWEN BOULEVARD, Berlin, MD 21811

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $28 SF/Yr $21,850/Mo (calc)

    Retail spaces available in Ocean Landings II shopping center.

    Type:Rental
    Property size:
    9,200 SF
    Lot size:
    21.24 Acres
    Added:
    May 3, 2024
    Days on Market:
    749
    Last Refresh:
    May 19 at 8:46 pm

    Property Features for 11328 SAMUEL BOWEN BOULEVARD

    General Information

    Standard status
    Active
    Size
    9,200 SF
    Lot size
    21.24 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    William Rinnier

    Listing agent William Rinnier License #514904

    Listing office Rinnier Development Co

    Listing date May 3, 2024

    Source Exitrealty

    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 Rinnier Development Co

    HighLights

    • Prime retail space in Ocean Landings II with signalized entry from Rt 50.
    • Anchored by Home Depot, WalMart, and McDonalds.
    • Located on Rt 50, the busiest seasonal thoroughfare.
    • Unit size is 9,200 SF with owner considering subdivision.
    • Abundant parking available.
    • NN Lease with CAM at $2.80 per foot.

    Overview

    Two retail spaces are available for lease in Ocean Landings II, accessible via a signalized entry from Route 50 in west Ocean City. The unit size is 9,200 square feet, and the owner is willing to consider subdivision. The shopping center is anchored by Home Depot, Walmart, and McDonald's. Other tenants include Aldi, Jersey Mike's, Verizon, iHOP, PetsMart, Dollar Tree, Michaels, Five Below, and Foxes Pizza. Abundant parking is available. Leases are NN, and CAM is an additional $2.80 per foot. The location features signalized access from Route 50, a busy seasonal thoroughfare.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Worcester
    State
    Maryland
    Longitude
    -75.2176
    Latitude
    38.3252

    Nearby Similar for Lease

    • $28 SF/Yr

      Turnkey Office Space in Berlin

      Move-in ready office with modern design and high-end finishes.
      11113 MANKLIN MEADOWS Lane, BERLIN, MD 21811
      View Details
    • Contact for pricing
      3,120 SF

      Medical Office Space Near Hospital

      Medical/Professional office space near Atlantic General Hospital. 3,120 GSF Available.
      9954 North Main Street Unit 3, Berlin, MD 21811
      View Details
    • $26 SF/Yr
      12,869 SF

      Retail Space in Penington Commons

      Former Rite Aid in heavily trafficked shopping center.
      11011 Manklin Creek Rd., Berlin, MD
      View Details
    • $28 SF/Yr
      9,230 SF

      Retail Space Near Route 50

      Up to 9,230 SF retail space available for rent.
      11328 Samuel Bowen Blvd, Berlin, MD
      View Details
    • $29 SF/Yr
      12,000 SF

      Medical Office Building Opportunity

      Proposed medical office building near Atlantic General Hospital in Berlin, MD.
      0 Old Ocean City Blvd, BERLIN, MD, 21811
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Route 50

      Retail space available on Route 50 in Berlin, MD.
      11408 Ocean Gtwy, Berlin, MD
      View Details
    • $28 SF/Yr

      Prime Retail Spaces Available

      Three retail spaces for lease in Ocean Landings II.
      11328 Samuel Bowen Blvd, Berlin, MD 21811
      View Details
    • $21 SF/Yr

      Professional Office Space Available

      Multiple office units for rent with easy highway access.
      11204 Racetrack Rd, Berlin, MD 21811
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available in Ocean Landings II shopping center.
    Where is this retail space located?
    The property is located at 11328 SAMUEL BOWEN BOULEVARD Berlin, MD.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Prime retail space in Ocean Landings II with signalized entry from Rt 50.; Anchored by Home Depot, WalMart, and McDonalds.; Located on Rt 50, the busiest seasonal thoroughfare.
    (410) 742-8151
    We can help!
    Listing Contact
    William Rinnier
    Real Estate License ID: 514904
    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

    Thank You for Inquiry
    11328 SAMUEL BOWEN BOULEVARD, BERLIN, MD 21811
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!