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    Waterfront Restaurant and Marina Property Title is generated by Realmo AI

    16215 Cobb Island Rd, Newburg, MD 20664

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    Established waterfront restaurant and marina with diverse income streams.

    Type:Hospitality, Retail, Special Purpose
    Property size:
    8,712 SF
    Price / SF:
    $338/SF
    Added:
    Dec 19, 2025
    Days on Market:
    144
    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

    We can help!

    Listing Contact
    Thomas McKay

    Listing agent Thomas McKay License #MD3354499

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Captain John’s Crab ... Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Newburg
    County
    Charles
    State
    Maryland
    Longitude
    -76.8516506
    Latitude
    38.2680069

    Nearby Similar for Sale

    • $2,950,000
      8,712 SF

      Waterfront Restaurant and Marina Opportunity

      Established restaurant and marina on Neale Sound, Charles County.
      16215 Cobb Island Rd, NEWBURG, MD 20664
      View Details
    • $750,000

      Iconic Waterfront Restaurant and Marina

      Established waterfront restaurant and marina with strong revenue and growth potential.
      16215 Cobb Island Road, Newburg, MD 20664
      View Details

    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.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas McKay
    Real Estate License ID: MD3354499
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    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.

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