Waterfront Restaurant and Marina
16215 Cobb Island Rd, Newburg, MD 20664
Established waterfront restaurant and marina with diverse income streams.
Type:Hospitality, Retail, Special Purpose
Property size:
8,712 SFPrice / SF:
$338/SF- Added:
- Dec 19, 2025
- Days on Market:
- 190
- Last Refresh:
- Mar 17 at 1:19 pm
Property Features for 16215 Cobb Island Rd
General Information
- Standard status
- Active
- Size
- 8,712 SF
- Property subtype
- Hospitality, Retail, Special Purpose
Building Details
- Year Built
- 1960
Listing office McNelis & Associates
Listing date Dec 19, 2025
Source Crexi
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 McNelis & Associates
HighLights
- Rare waterfront property with established restaurant and marina on Neal Sound, offering direct access to the Wicomico and Potomac Rivers.
- Includes a ~8,712 sq ft restaurant with outdoor waterfront dining, convenience store, take‑out area, and fuel pumps.
- Marina with over 40 slips equipped for daily/overnight docking, many with electric and water hookups.
- Valuable licenses included: on‑sale/off‑sale beer, wine, and spirits, plus Maryland Lottery sales.
- Sale includes real estate plus an additional residential parcel.
- Strategically located near Washington, D.C. and Northern Virginia.
Overview
This waterfront property features a restaurant and marina on Neal Sound, near the Wicomico and Potomac Rivers in Charles County. The property includes an approximately 8,712-square-foot restaurant building with outdoor waterfront dining, a convenience store, and fuel pumps for vehicles and boats. The marina has over 40 slips equipped for daily and overnight docking, many with electric and water hookups. The property holds licenses for on-sale and off-sale beer, wine, and spirits, as well as Maryland Lottery sales. The sale includes the real estate and one additional residential parcel. The property is located a short drive from the Washington, D.C. metropolitan area and Northern Virginia, benefiting from marina traffic, seasonal visitors, and a loyal customer base. This property is suited for an owner-operator or investor seeking a waterfront hospitality asset.
Local Financial Insights For Specialty Retail
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 | $233.1k | $26.76 |
| − Vacancy | −$10.3k | −$1.18 |
| EGI | $222.9k | $25.58 |
| − OpEx | −$55.7k | −$6.40 |
| NOI | $167.2k | $19.19 |
8,712 SF · lease $26.76/SF/yr · vacancy 4.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,156 @ 7.0% cap · market cap 5.67%
Second Best
Retail
$1.41M
$1.23M – $1.65M
NOI $98,794 @ 7.0% cap · market cap 3.35%
Theoretical Best
Multifamily LT 5
$122.33M
$107.04M – $142.72M
NOI $8,563,109 @ 7.0% cap · market cap 290.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Captain John’s Crab ...
Restaurant
Location Insight
- Map
- Local Demand
- City
- Newburg
- County
- Charles
- State
- Maryland
- Longitude
- -76.8516506
- Latitude
- 38.2680069
Nearby Similar for Sale
FAQs
What type of property is this?
Marina - Established waterfront restaurant and marina with diverse income streams.
Where is this marina located?
The property is located at 16215 Cobb Island Rd Newburg, MD.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Rare waterfront property with established restaurant and marina on Neal Sound, offering direct access to the Wicomico and Potomac Rivers.; Includes a ~8,712 sq ft restaurant with outdoor **waterfront dining**, convenience store, take‑out area, and fuel pumps.; Marina with over 40 slips equipped for daily/overnight docking, many with electric and water hookups.
