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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Grocery and convenience stores
106 Division St Ocean City, MD 21842-4061
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US40-1398518
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1985
Construction
BRICK
Total area
2,624 SF
Lot
0.26 ac (11,336 SF)
Zoning code
DMX
APN
10-028973
UPID
US40-1398518
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
Current use
Occupant on record · Public records
-
7-Eleven Grocery & Convenience Store
-
Citibank ATM Atm
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.57M
Owner & transaction history
North Division LLC · 1 yrs held
North Division LLC
since 2025
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
DMX · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to create a mixed use, pedestrian-oriented area that encourages development and redevelopment characteristic of the oldest part of Ocean City. The area will allow for commercial and personal services that meet the daily needs of residents and visitors as well as sufficient public open space that encourages pedestrian circulati…
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
45.68 ac
Source
Realmo
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 Ocean City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean City 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
$1,500,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±10% · vs last sale $1.60M (Mar 19 2025)
Last sale anchor
$1.60M
Mar 19 2025
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
$596 / 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
$15,517
Tax year 2023
Assessed value
$1,100,833
Assessed 2023
Previous assessed
$1,090,967
+0.9% YoY
Effective rate
1.41%
On assessed value
Land market value
$920,000
Improvement market value
$190,700
Total market value
$1,110,700
Applied tax rate
10.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1985
Construction
BRICK
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
2,624 SF
Lot
0.26 ac (11,336 SF)
Zoning code
DMX
APN
10-028973
UPID
US40-1398518
Jurisdiction
WORCESTER
Zoning & alternative use
DMX · Ocean City, MDZoning DMX · permitted uses
DMX · Ocean City, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district is to create a mixed use, pedestrian-oriented area that encourages development and redevelopment characteristic of the oldest part of Ocean City. The area will allow for commercial and personal services that meet the daily needs of residents and visitors as well as sufficient public open space that encourages pedestrian circulation throughout the entire district.
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
45.68 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1985
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
North Division LLC
Entity
Mailing address
PO BOX 711, DALLAS, TX 75221-0711
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2025
$1,600,000
North Division LLC
7 Eleven INC
Special Warranty Deed
$1,280,000 · Bank Of Ocean City
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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