Retail/Office Condo
For Sale
$399,999
9927 Stephen Decatur Highway 7f, Ocean City, MD 21842
Retail/office shop for sale within the Teal Marsh Shopping Center in West Ocean City.
Property Size1,580 SF
Price / SF$253.16
Days on Market48
Property Features for 9927 Stephen Decatur Highway 7f
General Information
Standard status
Active
Size
1,580 SF
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker Realty
Listed By:
Jamie Caine
(410) 726-0725
Source:
Kandorre
Added: Jul 21
Changed: Aug 14
Last Checked: Sep 5 at 11:24AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This for-sale retail/office shop is located in the Teal Marsh Shopping Center and is set up as an individual condo unit. The property is described as a retail/office shop, with quarter fees and a water bill noted in the remarks.
The unit is located at 9927 Stephen Decatur Highway 7F in Ocean City, Maryland.
Condo fees and quarter fees are referenced in the public remarks, including a condo fee of $1,425 and a water bill of $50.
The unit is located at 9927 Stephen Decatur Highway 7F in Ocean City, Maryland.
Condo fees and quarter fees are referenced in the public remarks, including a condo fee of $1,425 and a water bill of $50.
Key Highlights
- Retail/office shop for sale in the Teal Marsh Shopping Center in West Ocean City
- Year built: 2005
- Condo fee: $1,425
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
$22,098
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
5.52%
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%
$441,960
$442.0K
Cap Rate 7%
$315,686
$315.7K
Cap Rate 9%
$245,533
$245.5K
Market Conditions
NOI Build-Up for 1,580 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
$35.1K $22.20/SF
− Vacancy
−$5.6K −$3.55/SF
EGI
$29.5K $18.65/SF
− OpEx
−$7.4K −$4.66/SF
NOI
$22.1K $13.99/SF
Area
Worcester County, MD
Vacancy
16.00%
Lease Rate
$22.20 /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%
$441,960
Cap Rate 7%
$315,686
Cap Rate 9%
$245,533
Alternative Uses
Best Use
Office B
$315.7K
$276.2K – $368.3K
NOI $22,098 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$233.3K
$204.1K – $272.1K
NOI $16,328 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$379.7K
$332.2K – $443.0K
NOI $26,578 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
773
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail/office shop for sale within the Teal Marsh Shopping Center in West Ocean City.
Where is this shopping center located?
The property is located at 9927 Stephen Decatur Highway 7f Ocean City, MD.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Retail/office shop for sale in the Teal Marsh Shopping Center in West Ocean City; Year built: 2005; Condo fee: $1,425
