Retail/Office Condo
For Sale
$399,999
9927 Stephen Decatur Highway 7f, Ocean City, MD 21842
Retail/office shop for sale within the Teal Marsh Shopping Center in West Ocean City.
Property Size1,580 SF
Price / SF$253.16
Days on Market11
Property Features for 9927 Stephen Decatur Highway 7f
General Information
Standard status
Active
Size
1,580 SF
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker Realty
(410) 726-0725
Listed By:
Jamie Caine
Source:
Kandorre
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 30 at 8:54AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This for-sale retail/office shop is located in the Teal Marsh Shopping Center and is set up as an individual condo unit. The property is described as a retail/office shop, with quarter fees and a water bill noted in the remarks.
The unit is located at 9927 Stephen Decatur Highway 7F in Ocean City, Maryland.
Condo fees and quarter fees are referenced in the public remarks, including a condo fee of $1,425 and a water bill of $50.
The unit is located at 9927 Stephen Decatur Highway 7F in Ocean City, Maryland.
Condo fees and quarter fees are referenced in the public remarks, including a condo fee of $1,425 and a water bill of $50.
Key Highlights
- Retail/office shop for sale in the Teal Marsh Shopping Center in West Ocean City
- Year built: 2005
- Condo fee: $1,425
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.1k | $22.20 |
| − Vacancy | −$5.6k | −$3.55 |
| EGI | $29.5k | $18.65 |
| − OpEx | −$7.4k | −$4.66 |
| NOI | $22.1k | $13.99 |
1,580 SF · lease $22.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$315.7K
$276.2K – $368.3K
NOI $22,098 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$233.3K
$204.1K – $272.1K
NOI $16,328 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$379.7K
$332.2K – $443.0K
NOI $26,578 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21842, MD
11,104
Population
32,684
Households
0.3
Avg Household Size
53
Median Age
39%
College-Educated
95%
High-School Grad
9.2 sq mi
ZIP Area
1,207
Density / Sq Mi
$75,372
Median Household Income
$40,189
Median Earnings
$1,258
Median Rent
$415,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail/office shop for sale within the Teal Marsh Shopping Center in West Ocean City.
Where is this shopping center located?
The property is located at 9927 Stephen Decatur Highway 7f Ocean City, MD.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Retail/office shop for sale in the Teal Marsh Shopping Center in West Ocean City; Year built: 2005; Condo fee: $1,425
