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    FOR SALE
    Turn key restaurants

    12817 Harbor Rd, Ocean City, MD 21842

    1,512 SF 0.55 ac lot Built 2022
    Entity Owned 6-yr Hold Free & Clear
    Property ID
    US40-1080421
    Property summary
    AI-generated overview

    This exceptional $7,000,000 mixed-use investment opportunity in Ocean City, Maryland, presents a unique blend of commercial and residential income streams. Located at 12817 Harbor Rd, this property encompasses four parcels totaling 1.6 acres and boasts a prime deepwater marina-fronting location with 11 boat slips. The centerpiece is Pier 23 Restaurant, a fully equipped and operational establishment. Significant additional income is generated by an accompanying apartment building, providing a stable and diversified revenue stream. The property benefits from CM & C2 zoning, allowing for a variety of potential uses and future development possibilities. Convenient parking is also included, located directly across the street from the restaurant and apartment building. Situated in Worcester County, Maryland, with a zip code of 21842, this property offers unparalleled access to the vibrant Ocean City waterfront and its thriving tourism industry. The strategic location and diverse income streams make this a compelling investment opportunity with significant potential for long-term growth and profitability. This is a rare chance to acquire a well-established, income-producing property in a highly desirable location.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 2022
    Construction BRICK
    Total area 1,512 SF
    Lot 0.55 ac (24,024 SF)
    Zoning code CM
    APN 10-013879
    UPID US40-1080421
    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
    • OC Bay Hopper Freight Service Logistics Company
    • Salty Siren, OC Siren (Bike/Boat/Book/etc) Store
    • Go With The Flow MD (Bike/Boat/Book/etc) Store
    • Sail Alyosha (Bike/Boat/Book/etc) Store
    • Pier 23 Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $2.81M
    Owner & transaction history
    West O Madfish LLC · 6 yrs held
    West O Madfish LLC
    since 2020
    Last sale
    $3.0M
    5 recorded transactions
    2020
    2018
    $3.0M
    2015
    $1.8M
    1969
    1969
    Zoning & alternative use
    CM · Ocean City, MD
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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