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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Turn key restaurants
1409 Atlantic Ave, Ocean City, MD 21842-7522
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1733622
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1951
Construction
BRICK
Total area
8,990 SF
Lot
0.34 ac (14,800 SF)
Zoning code
R-3
APN
10-040345
UPID
US40-1733622
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
-
Harrison Hall Hotel Hotel & Motel
-
Da Vinci's by the Sea Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.64M
Owner & transaction history
Harrison All Hotel In · 4 yrs held
Harrison All Hotel In
since 2021
1 recorded transaction
Zoning & alternative use
R-3 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+101.4%
Industrial (general)
$1.9M
+46.5%
Office building
$1.9M
+44.2%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,305,000
Current use
COMMERCIAL (GENERAL)
$2,625,000
Change: +101% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,910,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,880,000
Change: +44% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,255,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$182 / 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
$62,084
Tax year 2023
Assessed value
$4,404,367
Assessed 2023
Previous assessed
$4,383,333
+0.5% YoY
Effective rate
1.41%
On assessed value
Land market value
$3,345,000
Improvement market value
$1,080,400
Total market value
$4,425,400
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1951
Construction
BRICK
Heating
YES
Cooling
YES
Stories
5
Units
2
Total area
8,990 SF
Lot
0.34 ac (14,800 SF)
Zoning code
R-3
APN
10-040345
UPID
US40-1733622
Jurisdiction
WORCESTER
Zoning & alternative use
R-3 · Ocean City, MD
Zoning R-3 · permitted uses
R-3 · Ocean City, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ocean City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.3M
RESTAURANT Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1951
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
5
Units
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Harrison All Hotel In
Individual
Mailing address
PO BOX 160, OCEAN CITY, MD 21843-0160
Ownership since
2021
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
Aug 31, 2021
—
Harrison All Hotel In
—
Deed
related
$7,000,000 · Calvin B Taylor Banking Co Berlin Md
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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