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Property profile & analytics
OFF-MARKET
Estimated value
$8,490,000
Hotels
1701 Atlantic Ave, Ocean City, MD 21842-6594
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US40-1400104
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2003
Construction
BRICK
Total area
103,230 SF
Lot
1.03 ac (45,000 SF)
Zoning code
R-3
APN
10-041333
UPID
US40-1400104
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
-
Coral Reef Cafe & Bar Bar & Pub
-
Summer Breeze Clothing Store
-
Coral Reef Restaurant & Bar Restaurant
-
Holiday Inn & Suites Ocean City, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.39M
Blend (final)
Blend
$8.49M
Owner & transaction history
Harrison Hi 18 LLC · 26 yrs held
Harrison Hi 18 LLC
since 1999
2 recorded transactions
Zoning & alternative use
R-3 · 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
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
Blend value · Realmo final
$8.49M
Range $7.64M – $9.34M · ±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
$82 / 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
$314,510
Tax year 2023
Assessed value
$22,312,000
Assessed 2023
Previous assessed
$22,312,000
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$7,875,000
Assessed improvement
$14,437,000
Land market value
$7,875,000
Improvement market value
$14,437,000
Total market value
$22,312,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2003
Construction
BRICK
Heating
YES
Cooling
WALL UNIT
Stories
14
Units
1
Total area
103,230 SF
Lot
1.03 ac (45,000 SF)
Zoning code
R-3
APN
10-041333
UPID
US40-1400104
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.
Building & site characteristics
From public records
Year built
2003
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
14
Units
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Harrison Hi 18 LLC
Entity
Mailing address
PO BOX 160, OCEAN CITY, MD 21843-0160
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2014
—
Harrison Hi 18 LLC
—
Grant Deed
related
$47,000,000 · German American Cap
Dec 7, 1999
—
Harrison Hi 18 LLC
Harrison,john H
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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