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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Office Spaces
10231 Old Ocean City Blvd Ste 102, Berlin, MD 21811-3567
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1586389
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2007
Total area
6,877 SF
APN
03-169081
UPID
US40-1586389
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$1.93M
Owner & transaction history
Chesapeake Eye Ctr R & E Hldgs L · 5 yrs held
Chesapeake Eye Ctr R & E Hldgs L
since 2020
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+30.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Berlin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berlin submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,690,000
Current use
RETAIL STORES
$2,205,000
Change: +30% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,600,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,495,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$281 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$18,612
Tax year 2023
Assessed value
$1,042,967
Assessed 2023
Previous assessed
$997,100
+4.6% YoY
Effective rate
1.78%
On assessed value
Land market value
$374,400
Improvement market value
$760,300
Total market value
$1,134,700
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2007
Heating
NONE
Units
1
Total area
6,877 SF
APN
03-169081
UPID
US40-1586389
Jurisdiction
WORCESTER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
NONE
Units
1
Current owner
From public records · entity-resolved
Chesapeake Eye Ctr R & E Hldgs L
Individual
Mailing address
105 PNE BLF RD STE #3, SALISBURY, MD 21801-7199
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2020
—
Chesapeake Eye Ctr R & E Hldgs L
—
Deed
related
$1,540,000 · Bank Of Ocean Cty
—
—
Cabura LLC
—
Deed Of Trust
related
$685,000 · Mercantile Peninsula Bank
—
—
Chesapeake Eye Ctr R & E Hldgs L
—
Deed Of Trust
related
$1,540,000 · Bank Of Ocean Cty
—
—
Cabura LLC
—
Deed Of Trust
related
$300,000 · Atlantic General Hospital Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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