Commercial Condominium in Ocean
11022 Nicholas Ln Ocean Pines, MD 21811
11022 Nicholas Ln, Ocean Pines, MD, 21811
Contact for pricing
For Sale
Contact for pricing
Commercial condominium for sale, suitable for various business uses.
Property Size3,528 SF
Price / SF$208.33
Days on Market951
Property Features for 11022 Nicholas Ln
General Information
- Standard status
- Active
- Size
- 3,528 SF
- Property subtype
- Office
Listing agency
SVN | Miller Commercial Real Estate Salisbury
(410) 543-2440
Listed by
Andrew Ball · License #MD 36569
Source
Crexi
Added: Dec 13, 2023 Updated: Jul 10 at 11:26AM Checked: Jul 21 at 1:48PM
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 SVN | Miller Commercial Real Estate Salisbury
Investment Insights
Based on property information with market context.
This commercial condominium, originally the home of Tidewater Physical Therapy and currently Swim Fit Wellness, is available for sale. The property has a size of 3528 square feet. The condominium is located in Ocean Pines, Maryland. The business and commercial condominium can be purchased separately or together. It is suitable for medical office space, general office use, fitness centers, gyms, sports and entertainment purposes, and other commercial real estate ventures.
Key Highlights
- Commercial condominium for sale.
- Business for sale, currently Swim Fit Wellness.
- Originally the home of Tidewater Physical Therapy.
Local Financial Insights For Office B
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 | $78.3k | $22.20 |
| − Vacancy | −$12.5k | −$3.55 |
| EGI | $65.8k | $18.65 |
| − OpEx | −$16.4k | −$4.66 |
| NOI | $49.3k | $13.99 |
3,528 SF · lease $22.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$704.9K
$616.8K – $822.4K
NOI $49,343 @ 7.0% cap · market cap 6.71%
Second Best
Healthcare Medical
$587.7K
$514.2K – $685.7K
NOI $41,139 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$847.8K
$741.8K – $989.1K
NOI $59,347 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Commercial condominium for sale, suitable for various business uses.
Where is this medical office space located?
The property is located at 11022 Nicholas Ln Ocean Pines, MD.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Commercial condominium for sale.; Business for sale, currently Swim Fit Wellness.; Originally the home of Tidewater Physical Therapy.
