Conditioned Warehouse
New
For Sale
$249,000
Pending
9808 STEPHEN DECATUR HIGHWAY #12, Ocean City, MD 21842
Conditioned commercial space includes an oversized garage door, heat pump, overhead lighting, and a half bath.
Property Size988 SF
Days on Market5
Property Features for 9808 STEPHEN DECATUR HIGHWAY #12
General Information
Standard status
Pending
Size
988 SF
Property subtype
Commercial
Warehouse & Industrial
Drive-In Doors
1
Conditioned Warehouse
Yes
Additional Details
Road Access
Yes
Building Details
Year Built
2007
Listing Agency:
Coastal Life Realty Group LLC
(410) 960-7518
Listed By:
Megan Foley · License #633467
(410) 960-7518
Source:
Cummingsrealtors
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 2 at 5:05AM
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 Coastal Life Realty Group LLC
Investment Insights
Based on property information with market context.
This commercial warehouse condo in Assateague Square provides conditioned space suited to boat, automobile, or personal storage. The unit includes an oversized garage door, heat pump for heating and air conditioning, overhead lighting, and a half bath. The space may also be built out for retail use, as supported by the property's warehouse and retail setting.
The property is located at 9808 Stephen Decatur Highway in Ocean City, within West Ocean City and along Route 611. Assateague Square includes professional retail spaces and warehouses, with shared exterior lighting, maintained roads, and an onsite dumpster serving the community.
The property is located at 9808 Stephen Decatur Highway in Ocean City, within West Ocean City and along Route 611. Assateague Square includes professional retail spaces and warehouses, with shared exterior lighting, maintained roads, and an onsite dumpster serving the community.
Key Highlights
- Commercial warehouse condominium in Assateague Square
- Conditioned space with heat pump heating and air conditioning
- Oversized garage door supports vehicle and equipment access
Financial Insights For Flex RnD
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 | $17.8k | $18.00 |
| − Vacancy | −$1.8k | −$1.80 |
| EGI | $16.0k | $16.20 |
| − OpEx | −$5.6k | −$5.67 |
| NOI | $10.4k | $10.53 |
988 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$148.6K
$130.1K – $173.4K
NOI $10,404 @ 7.0% cap · market cap 4.18%
Second Best
Retail
$145.9K
$127.6K – $170.2K
NOI $10,210 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$237.4K
$207.8K – $277.0K
NOI $16,620 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21842, MD
11,104
Population
32,684
Households
0.3
Avg Household Size
53
Median Age
39%
College-Educated
95%
High-School Grad
9.2 sq mi
ZIP Area
1,207
Density / Sq Mi
$75,372
Median Household Income
$40,189
Median Earnings
$1,258
Median Rent
$415,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ocean City Mini Storage — 9625 Stephen Decatur Hwy, Ocean City, MD 21842
- Harbor Marine Inc — 12731 Sunset Ave, Ocean City, MD 21842
- Ocean City Service Oil Co Inc — 9724 stephen decatur hwy, ocean city, md 21842
- Ocean City Supply — 9724 Stephen Decatur Hwy, Ocean City, MD 21842
- Tower Marine Services LLC — 12734 Sunset Ave, Ocean City, MD 21842
Frequently Asked Questions
What type of property is this?
Warehouse - Conditioned commercial space includes an oversized garage door, heat pump, overhead lighting, and a half bath.
Where is this warehouse located?
The property is located at 9808 STEPHEN DECATUR HIGHWAY #12 Ocean City, MD.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Commercial warehouse condominium in Assateague Square; Conditioned space with heat pump heating and air conditioning; Oversized garage door supports vehicle and equipment access
