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    712 Broadway Ave Crisfield, MD 21817
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    712 Broadway Ave Crisfield, MD 21817

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    • Retail properties & Spaces
    • 3,087 SF
    • 0.15 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 712 Broadway Ave

    Lot size
    0.15 lot acres
    Property size
    3,087 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 3,087 square foot retail property, located at 712 Broadway Avenue in Crisfield, Maryland (zip code 21817), is offered at $400,000 ($129.58/sq ft). Situated on a 0.15-acre lot, this stand-alone building boasts a highly desirable location directly across from Somers Cove Marina and its associated parking lot – the heart of Crisfield's events, including the annual J. Millard Tawes Crab & Clam Bake. The property features an indoor dining area with an overlooking mezzanine, providing ample space for customers. Enjoy both indoor and outdoor seating options, with an outdoor deck enhancing the dining experience. A large kitchen area is equipped for culinary operations, and additional upstairs space includes a private office and storage areas. The property also includes a valuable private parking lot for patrons and staff. This versatile space is perfectly suited for a restaurant, bar, or event venue, capitalizing on its prime waterfront location and proximity to major Crisfield attractions. The property's unique features and central location make it a compelling investment opportunity in the vibrant Somerset County market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Crisfield
    County
    Somerset
    State
    Maryland
    Longitude
    -75.8576
    Latitude
    37.9799

    Comparable in this City

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    • Value Estimation by Request
      1,820 SF

      3457 Lawsonia Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,820 SF
      3457 Lawsonia Rd, Crisfield, MD 21817-2213
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    • Value Estimation by Request
      1,060 SF

      Main St

      RESTAURANT • 1,060 SF
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      3,510 SF

      821 Main St

      RESTAURANT • 3,510 SF
      821 Main St, Crisfield, MD 21817-1013
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    • Value Estimation
      $1,090,000
      13,265 SF

      504 Maryland Ave

      GROCERY, SUPERMARKET • 13,265 SF
      504 Maryland Ave, Crisfield, MD 21817-1139
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    • Value Estimation by Request
      2,232 SF

      12 Maryland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,232 SF
      12 Maryland Ave, Crisfield, MD 21817-1211
      View Details

    Similar Nearby for Sale

    • $289,900
      Pending

      Waterfront Building on Somers Cove

      1488 SF building on 61 ft lot near marina.
      913 Spruce St, Crisfield, MD 21817
      View Details
    • $150,000

      Waterfront Commercial Building in Crisfield

      Versatile building in Crisfield, MD, near marina and Smith Island.
      98 N 4Th St, Crisfield, MD 21817
      View Details
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    Crisfield, MD 21817
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    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
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