Waterfront Marina with
For Sale
$3,700,000
16215 COBB ISLAND ROAD, Newburg, MD 20664
Waterfront marina property with restaurant, convenience store, take-out service, and vehicle and boat fueling.
Property Size8,712 SF
Days on Market137
Property Features for 16215 COBB ISLAND ROAD
General Information
Standard status
Active
Size
8,712 SF
Property subtype
Special Purpose
Taxes and HOA fees
Annual Taxes
$17,661
Building Details
Building Size
8,712 SF
Year Built
1960
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(240) 298-3896
Listed By:
Thomas F. McKay · License ##5015207
(240) 298-3896
Source:
Barnesrealestatecompany
Added: Apr 8
Changed: Aug 21
Last Checked: Aug 21 at 11:41AM
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
Investment Insights
Based on property information with market context.
This waterfront marina property includes an approximately 8,712-square-foot restaurant building with outdoor dining along Neale Sound. The operation also includes a convenience store, take-out service, and fuel pumps serving vehicles and boats. The marina provides over 40 slips for daily and overnight docking, with many slips offering electric and water hookups.
The property is directly connected to the Wicomico and Potomac Rivers in Charles County and includes the real estate, marina, business, furniture, and fixtures. Existing licenses cover on-sale and off-sale beer, wine, and spirits, along with Maryland Lottery sales. The restaurant has operated for over six decades, and the building dates to 1960.
The property is directly connected to the Wicomico and Potomac Rivers in Charles County and includes the real estate, marina, business, furniture, and fixtures. Existing licenses cover on-sale and off-sale beer, wine, and spirits, along with Maryland Lottery sales. The restaurant has operated for over six decades, and the building dates to 1960.
Key Highlights
- Waterfront setting on Neale Sound directly off the Wicomico and Potomac Rivers
- Approximately 8,712‑square‑foot restaurant building with outdoor waterfront dining
- Marina includes over 40 slips for daily and overnight docking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$167,156
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,343,120
$3.3M
Cap Rate 7%
$2,387,943
$2.4M
Cap Rate 9%
$1,857,289
$1.9M
Market Conditions
NOI Build-Up for 8,712 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $167,156 @ 7.0% cap · market cap 4.52%
Second Best
Retail
$1.41M
$1.23M – $1.65M
NOI $98,794 @ 7.0% cap · market cap 2.67%
Theoretical Best
Multifamily LT 5
$122.33M
$107.04M – $142.72M
NOI $8,563,109 @ 7.0% cap · market cap 231.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Marina - Waterfront marina property with restaurant, convenience store, take-out service, and vehicle and boat fueling.
Where is this marina located?
The property is located at 16215 COBB ISLAND ROAD Newburg, MD.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Waterfront setting on Neale Sound directly off the Wicomico and Potomac Rivers; Approximately 8,712‑square‑foot restaurant building with outdoor waterfront dining; Marina includes over 40 slips for daily and overnight docking
