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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Grocery and convenience stores
11911 Coastal Hwy Ocean City, MD 21842-2621
Entity Owned
Free & Clear
Property ID
US40-1160802
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1983
Total area
5,836 SF
Lot
0.92 ac (40,080 SF)
Zoning code
LC-1
APN
10-145791
UPID
US40-1160802
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
-
Rippons Seafood Restaurant
-
Coldwell Banker Vacations - Vacation Rentals Vacation Rental Real Estate Agency
-
7-Eleven Grocery & Convenience Store
-
Citibank ATM Atm
-
Bluvista Vacation Rentals Vacation Rental Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$950k
Owner & transaction history
SOUTHLAND CORP A TEXAS CORP
SOUTHLAND CORP A TEXAS CORP
Zoning & alternative use
LC-1 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to provide primarily for retail shopping, personal service uses, and recreational activities to meet the daily needs of residents and vacationers and to provide sufficient space in appropriate locations by conditional use to permit a variety of commercial and miscellaneous amusement and service activities which are considered…
Zone name
Local Commercial
General category
COMMERCIAL
Zone area
368.78 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
by Request
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
$1,395,000
6.5%
$1,290,000
7%
$1,195,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,240,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,220,000
Change: 0% · Conversion: Moderate
RESTAURANT
$845,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$815,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$630,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±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
$163 / 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
$40,642
Tax year 2023
Assessed value
$2,883,200
Assessed 2023
Previous assessed
$2,826,533
+2.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$2,402,800
Assessed improvement
$480,400
Land market value
$2,402,800
Improvement market value
$480,400
Total market value
$2,883,200
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
1983
Heating
FORCED AIR
Stories
1
Units
1
Total area
5,836 SF
Lot
0.92 ac (40,080 SF)
Zoning code
LC-1
APN
10-145791
UPID
US40-1160802
Jurisdiction
WORCESTER
Zoning & alternative use
LC-1 · Ocean City, MDZoning LC-1 · permitted uses
LC-1 · 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 provide primarily for retail shopping, personal service uses, and recreational activities to meet the daily needs of residents and vacationers and to provide sufficient space in appropriate locations by conditional use to permit a variety of commercial and miscellaneous amusement and service activities which are considered to be of a more intensified use or which might adversely impact neighboring properties.
Zone name
Local Commercial
General category
COMMERCIAL
Zone area
368.78 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$845,000
WAREHOUSE, STORAGE
Est. value
$815,000
RETAIL STORES
Est. value
$630,000
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
RETAIL STORES
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
1983
Heating
FORCED AIR
Stories
1
Units
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
SOUTHLAND CORP A TEXAS CORP
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 711, DALLAS, TX 75221-0711
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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