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Property profile & analytics
OFF-MARKET
Estimated value
$1,905,000
Retail space
1611 Philadelphia Ave Ocean City, MD 21842-3650
Entity Owned
23-yr Hold
Free & Clear
Property ID
US40-0891080
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2003
Total area
12,102 SF
Lot
1.31 ac (56,914 SF)
Zoning code
LC-1
APN
10-040884
UPID
US40-0891080
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CVS Pharmacy Pharmacy
-
CVS Pharmacy
-
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Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.91M
Owner & transaction history
Cvs 4371 Md LLC · 23 yrs held
Cvs 4371 Md LLC
since 2002
1 recorded transaction
Zoning & alternative use
LC-1 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$157 / 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
$44,551
Tax year 2023
Assessed value
$3,160,567
Assessed 2023
Previous assessed
$3,055,333
+3.4% YoY
Effective rate
1.41%
On assessed value
Land market value
$1,784,500
Improvement market value
$1,481,300
Total market value
$3,265,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
12,102 SF
Lot
1.31 ac (56,914 SF)
Zoning code
LC-1
APN
10-040884
UPID
US40-0891080
Jurisdiction
WORCESTER
Zoning & alternative use
LC-1 · Ocean City, MD
Zoning 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
Ocean City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2003
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.31 ac
Current owner
From public records · entity-resolved
Cvs 4371 Md LLC
Entity
Free & Clear · 23 yrs held
Mailing address
PO BOX 1610, COCKEYSVILLE, MD 21030-7610
Ownership since
2002
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
Dec 18, 2002
$3,000,000
Cvs 4371 Md LLC
Josie & Marias INC
Grant Deed
—
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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