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    12817 Harbor Rd Ocean City, MD 21842

    Sponsored
    For Sale
    $7,000,000

    Prime waterfront restaurant & apartments.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional $7,000,000 mixed-use investment opportunity in Ocean City, Maryland, presents a unique blend of commercial and residential income streams. Located at 12817 Harbor Rd, this property encompasses four parcels totaling 1.6 acres and boasts a prime deepwater marina-fronting location with 11 boat slips. The centerpiece is Pier 23 Restaurant, a fully equipped and operational establishment. Significant additional income is generated by an accompanying apartment building, providing a stable and diversified revenue stream. The property benefits from CM & C2 zoning, allowing for a variety of potential uses and future development possibilities. Convenient parking is also included, located directly across the street from the restaurant and apartment building. Situated in Worcester County, Maryland, with a zip code of 21842, this property offers unparalleled access to the vibrant Ocean City waterfront and its thriving tourism industry. The strategic location and diverse income streams make this a compelling investment opportunity with significant potential for long-term growth and profitability. This is a rare chance to acquire a well-established, income-producing property in a highly desirable location.

    Property Features for 12817 Harbor Rd

    General Information

    Property type
    Mixed-use properties
    Lot Size
    69,696 SF

    HighLights

    • $7,000,000 asking price.
    • Mixed‑use property: restaurant and apartment building.
    • CM & C2 zoning.
    • 1.6‑acre lot.
    • Ocean City, MD, 12817 Harbor Rd, 21842.
    • Unique deepwater marina location with 11 boat slips.
    Property Profile Location Intelligence

    Current Use by Public Records

    OC Bay Hopper Transportation Service Salty Siren, OC ... Boat Tour Agency Go With The Flow ... Boat Tour Agency Sail Alyosha Boat Tour Agency Pier 23 Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean City
    County
    Worcester
    State
    Maryland
    Longitude
    -75.106331401251
    Latitude
    38.326842564666

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    FAQs

    What type of property is this?
    Mixed-use property - Prime waterfront restaurant & apartments.
    Where is this mixed-use property located?
    The property is located at 12817 Harbor Rd Ocean City, MD.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: $7,000,000 asking price.; Mixed-use property: restaurant and apartment building.; CM & C2 zoning.
    Request Owner's contact information
    12817 Harbor Rd Ocean City, MD 21842
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    Realmo Value Estimation

    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.

    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.

    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
    12817 Harbor Rd Ocean City, MD 21842
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