Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10231 Old Ocean City Blvd Ste, Unit 101 Berlin, MD 21811-3567

    • Office Properties & Spaces
    • 2,730 SF
    OFF-MARKET
    Value Estimations
    $800,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1978430
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 10231 Old Ocean City Blvd Ste

    Year built
    2007
    Property size
    2,730 SF
    Property type
    Office Properties & Spaces
    APN
    03-169073
    APU
    3169073

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $858,000
      Market price range: $293k - $1.21M
      AI Estimate
      $740,000
      Market price range: $293k - $856k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $670,000
      Current use
      RETAIL STORES
      $875,000
      Change: +30% Conversion: Moderate
      WAREHOUSE, STORAGE
      $635,000
      Change: -5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $595,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Worcester
    State
    Maryland
    Longitude
    -75.2088
    Latitude
    38.337
    CBSA code
    41540
    CBSA name
    SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,388
    $0.00
    $0.00
    $432,200
    -
    $148,600
    $301,800
    $450,400

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      11204 Racetrack Rd

      Office space • 40,000 SF
      11204 Racetrack Rd, Berlin, MD 21811
      View Details
    • Value Estimation by Request
      5,148 SF

      11004 Manklin Mdws Ln Ste, Unit 1

      CONDOMINIUM OFFICES • 5,148 SF
      11004 Manklin Mdws Ln Ste, Berlin, MD 21811-9313
      View Details
    • Value Estimation
      $1,930,000
      6,877 SF

      10231 Old Ocean City Blvd Ste, Unit 102

      CONDOMINIUM OFFICES • 6,877 SF
      10231 Old Ocean City Blvd Ste, Berlin, MD 21811-3567
      View Details
    • Value Estimation by Request
      862 SF

      11004 Manklin Mdws Ln Ste, Unit 2

      CONDOMINIUM OFFICES • 862 SF
      11004 Manklin Mdws Ln Ste, Berlin, MD 21811-9313
      View Details
    • Value Estimation by Request
      1,620 SF

      9956 Main St

      Office Properties & Spaces • 1,620 SF
      9956 Main St, Berlin, MD 21811
      View Details
    • Value Estimation by Request
      1,620 SF

      9956 Main St

      Medical offices • 1,620 SF
      9956 Main St, Berlin, MD 21811
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Berlin Office Space Available

      Modern offices, various sizes, convenient location.
      11204 Racetrack Rd, Berlin, MD 21811
      View Details
    • Contact for pricing

      Berlin Office Space - High Visibility

      Prime Berlin office, 2648 sq ft, NNN lease.
      314 Franklin Ave, Berlin, MD 21811
      View Details
    • Contact for pricing
      5.84 Acres

      Berlin Medical Office Space for Lease

      Prime Medical Office, 23,579+ RSF Available
      11107 Cathage Rd, Berlin, MD 21811
      View Details
    • $735,000
      3,528 SF

      Ocean Pines Executive Office Suite

      Prime Ocean Pines Office, Updated 2022
      11022 Nicholas Ln, Ocean Pines, MD 21811
      View Details
    • Contact for pricing
      70,271 SF

      Medical/Professional Office Space Available

      Medical/Professional office space for sale near Route 90 and 589.
      11107 Cathage Rd, Berlin, MD 21811
      View Details
    • Contact for pricing
      6,600 SF

      Berlin Office Warehouse Investment Opportunity

      6,600 SF building with 4 units, ideal for investment.
      10545 Friendship Rd, Berlin, MD 21811
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,120 SF

      Professional Office Space in Berlin

      Well-maintained office space available for sublease in Berlin, MD.
      9954 Main St, Berlin, MD 21811
      View Details
    • $22 SF/Yr

      Medical/Professional Office Space For Rent

      Medical/Professional office space available at Tidal Health's Ocean Pines Campus.
      11107 Cathage Rd, Berlin, MD 21811
      View Details
    • $29 SF/Yr

      Medical Office Building Opportunity

      Proposed medical office building near Atlantic General Hospital.
      Old Ocean City Blvd, Berlin, MD 21811
      View Details
    • $3,400 /Mo

      Office Suite in Taylorville Center

      Office suite with high exposure and ample parking available.
      10441 Racetrack Rd, Berlin, MD 21811
      View Details
    • $29 SF/Yr

      Medical Office Building Opportunity

      Proposed medical office building near Atlantic General Hospital in Berlin, MD.
      Old Ocean City Blvd, Berlin, MD 21811
      View Details
    • $18 SF/Yr

      Professional Office Space For Rent

      Professional office spaces available with easy access to major routes.
      11204 Racetrack Rd, Ocean Pines, MD 21811
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10231 Old Ocean City Blvd Ste, Unit 101
    Berlin, MD 21811-3567
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!