Sign Up Successful!
You now have access to more from Realmo!
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

    1245 Ocean Hwy Pocomoke City, MD 21851-3014

    • Turn key restaurants
    • 8,767 SF
    • 2.34 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2021
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0740484
    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

    • Phố Biển Asian cuisine / Restaurant

    Property Details for 1245 Ocean Hwy

    Year built
    1940
    Construction
    BRICK
    Lot size
    2.34 lot acres
    Property size
    8,767 SF
    Zone code
    B-2
    Property type
    Turn key restaurants
    APN
    01-035894
    APU
    1035894

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pocomoke City
    County
    Worcester
    State
    Maryland
    Longitude
    -75.5437
    Latitude
    38.0424
    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
    $7,229
    $150,300
    $195,900
    $346,200
    -
    $150,300
    $195,900
    $346,200

    Comparable in this City

    • Value Estimation by Request
      2,539 SF

      146 Market St

      RESTAURANT • 2,539 SF
      146 Market St, Pocomoke City, MD 21851-1051
      View Details
    • Value Estimation by Request
      4,525 SF

      1344 Ocean Hwy

      RESTAURANT • 4,525 SF
      1344 Ocean Hwy, Pocomoke City, MD 21851-3031
      View Details
    • Value Estimation
      $645,000
      9,104 SF

      1621 Ocean Hwy

      RESTAURANT • 9,104 SF
      1621 Ocean Hwy, Pocomoke City, MD 21851-3018
      View Details
    • Value Estimation by Request
      3,069 SF

      2 Riverside Dr

      RESTAURANT • 3,069 SF
      2 Riverside Dr, Pocomoke City, MD 21851-1174
      View Details
    • Value Estimation by Request
      1,271 SF

      200 Market St

      RESTAURANT • 1,271 SF
      200 Market St, Pocomoke City, MD 21851-1112
      View Details
    • Value Estimation
      $555,000
      4,663 SF

      145 Newtowne Blvd

      RESTAURANT • 4,663 SF
      145 Newtowne Blvd, Pocomoke City, MD 21851-2700
      View Details

    Similar Nearby for Sale

    • $399,000

      Downtown Commercial District Retail Space

      Ground-floor retail space in a vibrant downtown commercial district.
      138 Market St, Pocomoke City, MD 21851
      View Details
    • $1,100,000
      2,537 SF

      Prime Location Near Future Wawa

      2+/- acre retail property near future Wawa.
      13 And Stockton Rd, Pocomoke City, MD 21851
      View Details
    • $318,000

      Mixed-Use Warehouse and Retail Space

      Mixed-use warehouse and retail space with Route 13 visibility.
      445 Makemie Rd, Pocomoke City, MD 21851
      View Details
    • $1,250,000
      2.00 Acres

      High-Traffic Pocomoke City Retail Site

      Prime Retail Land, 2.5 Acres, C-2 Zoning
      13 And Stockton Rd, Pocomoke City, MD 21851
      View Details
    • $275,000

      Residential Development Land Opportunity

      3.18 acres of riverfront land in Pocomoke City, MD.
      Pocomoke, MD 21851
      View Details
    • $224,990

      Specialty Property in Pocomoke City

      Specialty property available for sale in Pocomoke City.
      243 Morgans Ct, Pocomoke City, MD 21851
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,800 SF

      Retail Space in East Town

      Retail space available within a Walmart shadow-anchored shopping center.
      2132 Old Snow Hill Rd, Pocomoke City, MD 21851
      View Details
    • $12 SF/Yr

      Pocomoke City Specialty Property

      Specialty property available for rent in Pocomoke City.
      153 Market St, Pocomoke City, MD 21851
      View Details
    • Contact for pricing
      1 SF

      Prime Pocomoke City Commercial Land

      1.7 Acres, Single Tenant Potential
      275 Newtown Blvd, Pocomoke City, MD 21851
      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.
    1245 Ocean Hwy
    Pocomoke City, MD 21851-3014
    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.