16215 COBB ISLAND ROAD, Newburg, MD 20664

Building Details

Building Size 8,712 SF More

Year Built 1960 More

Listing Agency: Berkshire Hathaway HomeServices PenFed Realty

Listed By: Thomas F. McKay · License MD #5015207 Show Phone

Source: Barnesrealestatecompany

Added: Mar 27 Changed: Nov 12 Last Checked: Nov 12 at 1:19PM

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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 Berkshire Hathaway HomeServices PenFed Realty

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This iconic waterfront restaurant and marina in Charles County presents a rare opportunity to acquire a well-established, family-owned business with over 65 years of heritage and a loyal clientele. Located directly on Neal Sound, off the Wicomico and Potomac rivers, the property features a large full-service commercial kitchen and bar, spacious dining rooms, and inviting outdoor seating with water views. The venue includes a versatile event space and meeting room to accommodate private functions. A carry-out convenience store enhances the restaurant’s offerings, supported by an on-sale and off-sale beer, wine, and spirits license, along with Maryland Lottery sales. The business benefits from a dedicated, long-term staff. Additional revenue streams come from fuel sales for both land vehicles and watercraft. The marina boasts over 40 slips available for daily or overnight rental, many equipped with electric and water hookups, attracting boaters. Revenues have fully rebounded following the COVID period, demonstrating strong market resilience and significant growth potential. The property is near Washington, D.C., and Northern Virginia, and enjoys consistent marina traffic, seasonal tourism, and a devoted customer base.

Key Highlights

• Iconic waterfront restaurant with 65+ years of established business and loyal clientele.
• Direct waterfront location on Neal Sound with stunning water views and marina with 40+ slips.
• Benefit from a full‑service commercial kitchen, bar, spacious dining rooms, and versatile event space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$167,156

Cap Rate

4.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,343,120 $3.3M

Cap Rate 7%

$2,387,943 $2.4M

Cap Rate 9%

$1,857,289 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,712 SF

Gross rent

$233.1K $26.76/SF

− Vacancy

−$10.3K −$1.18/SF

EGI

$222.9K $25.58/SF

− OpEx

−$55.7K −$6.40/SF

NOI

$167.2K $19.19/SF

Area

Charles County, MD

Vacancy

4.40%

Lease Rate

$26.76 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,343,120

Cap Rate 7%

$2,387,943

Cap Rate 9%

$1,857,289

Alternative Uses

Best Use

Specialty Retail

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,156 @ 7.0% cap · market cap 4.79%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.23M

$2.83M – $3.77M (±1% cap)

NOI $226,160 @ 7.0% cap · market cap 6.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Captain John’s Crab ... Restaurant

Suggested Use

Top Pick Building Supply Auto Repair Shop Cafe & Coffee Shop Law Firm Wine and Liquor Store Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 20664, MD

2,940

Population

1,524

Households

1.9

Avg Household Size

43

Median Age

21%

College-Educated

94%

High-School Grad

40.9 sq mi

ZIP Area

72

Density / Sq Mi

$82,083

Median Household Income

$68,631

Median Earnings

$1,660

Median Rent

$433,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established waterfront restaurant and marina with strong revenue and growth potential.

Where is this conventional restaurant located?

The property is located at 16215 COBB ISLAND ROAD Newburg, MD.

What is the asking price?

The asking price for this property is $3,490,000.

What are key features of this property?

This property features: Iconic waterfront restaurant with 65+ years of established business and loyal clientele.; Direct waterfront location on Neal Sound with stunning water views and marina with 40+ slips.; Benefit from a full‑service commercial kitchen, bar, spacious dining rooms, and versatile event space.