Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    701 RUSTY ANCHOR RD #17 Ocean City, MD 21842

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $405,000

    Two-level townhouse condo with three balconies and new appliances.

    Type:Townhouse
    Property size:
    1,184 SF
    Added:
    Aug 25, 2025
    Days on Market:
    220
    Last Refresh:
    Mar 31 at 1:01 am

    Property Features for 701 RUSTY ANCHOR RD #17

    General Information

    Standard status
    Active
    Size
    1,184 SF
    Property subtype
    Townhouse

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    James Bacco

    Listing agent James Bacco License #311079

    Listing office Ocean City

    Listing date Aug 25, 2025

    Source Kw

    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 Ocean City

    Overview

    Two-Level Townhouse Condo For Sale

    This spacious, open two-level townhouse condominium is located in the Little Salisbury area, in an uptown location. The property is situated a few steps from the pool area and features three balconies, one directly off the living area and one directly off each of the two bedrooms. New LPV flooring and new kitchen appliances have been installed. The property size is 1184 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Law Firm Spa & Massage Center Restaurant Hair Salon Real Estate Agency Nail Salon Building Supply Gym & Fitness Center Accounting Firm Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean City
    County
    Worcester
    State
    Maryland
    Longitude
    -75.0667
    Latitude
    38.3984

    Nearby Similar for Sale

    • $1,349,000
      2,560 SF

      Furnished Multifamily Investment Opportunity

      Four fully furnished units near Ocean City's nightlife and beach.
      15 57TH Street, OCEAN CITY, MD 21842
      View Details
    • $59,900

      Seaside Village Boat Slip

      Prime boat slip in West Ocean City's Seaside Village.
      87 SEASIDE Village unit: M87, OCEAN CITY, MD 21842
      View Details
    • $1,990,000
      3,864 SF

      West Ocean City Medical/Office Building

      3,864 SF medical/office building on 1.21 acres for sale.
      12385 Ocean Gtwy, Ocean City, MD 21842
      View Details
    • $3,500,000
      11,133 SF

      West Ocean City Resort Opportunity

      Resort with restaurant, cottages, pool, and redevelopment potential.
      12614 Ocean Gateway, Ocean City, MD 21842
      View Details
    • $3,500,000

      West Ocean City Resort Opportunity

      Resort with restaurant, cottages, and redevelopment potential in Ocean City.
      12614 Ocean Gateway, Ocean City, MD 21842
      View Details
    • $1,500,000
      3,700 SF

      Commercial

      12905 HARBOR Rd, Ocean City, MD 21842
      View Details
    • $465,000

      Iconic Restaurant Opportunity

      Successful restaurant business for sale in downtown location.
      1511 PHILADELPHIA AVENUE, OCEAN CITY, MD 21842
      View Details
    • $1,990,000
      3,864 SF

      West Ocean City Medical/Office Building

      3,864 SF medical/office building on 1.21 acres for sale.
      12385 Ocean Gtwy, Ocean City, MD 21842
      View Details
    • $2,599,900
      13,090 SF

      Mixed-Use Property in West Ocean

      Unique mixed-use property with offices, warehouses, and apartment.
      12632 SUNSET AVENUE 1 & 3, OCEAN CITY, MD 21842
      View Details
    • $3,500,000

      West Ocean City Resort Opportunity

      Resort with restaurant, cottages, and redevelopment potential in Ocean City.
      12614 Ocean Gateway, Ocean City, MD 21842
      View Details
    • $925,000

      Four-Unit Property with Rental Potential

      Well-maintained four-unit property with updated systems and modern amenities.
      406 14TH ST STREET, OCEAN CITY, MD 21842
      View Details
    • $174,900
      376 SF

      Ocean City Efficiency Condo

      Bright, updated condo near the beach with two parking spaces.
      202 32ND STREET 105, OCEAN CITY, MD 21842
      View Details

    FAQs

    What type of property is this?
    Specialty property - Two-level townhouse condo with three balconies and new appliances.
    Where is this specialty property located?
    The property is located at 701 RUSTY ANCHOR RD #17 Ocean City, MD.
    What is the asking price?
    The asking price for this property is $405,000.
    What are key features of this property?
    This property features: Spacious and open two level townhouse condominium.; Great uptown location in "Little Salisbury".; Steps to the pool area.
    (410) 524-6400
    We can help!
    Listing Contact
    James Bacco
    Real Estate License ID: 311079
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!