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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Commercial land
205 Dorchester St, Ocean City, MD 21842-6654
Entity Owned
13-yr Hold
Free & Clear
Property ID
US40-0174347
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1945
Construction
BRICK
Total area
4,190 SF
Lot
0.11 ac (5,000 SF)
Zoning code
DMX
APN
10-027233
UPID
US40-0174347
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$655k
Comparable Approach
Comparable
$641k
Blend (final)
Blend
$660k
Owner & transaction history
Phoenix Property Investment LLC · 13 yrs held
Phoenix Property Investment LLC
since 2013
7 recorded transactions
Zoning & alternative use
DMX · 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%
$705,000
6.5%
$655,000
7%
$605,000
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$158 / 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
$3,294
Tax year 2023
Assessed value
$233,700
Assessed 2023
Previous assessed
$233,700
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$233,700
Land market value
$233,700
Total market value
$233,700
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1945
Construction
BRICK
Heating
FORCED AIR
Stories
2
Total area
4,190 SF
Lot
0.11 ac (5,000 SF)
Zoning code
DMX
APN
10-027233
UPID
US40-0174347
Jurisdiction
WORCESTER
Zoning & alternative use
DMX · Ocean City, MD
Zoning DMX · permitted uses
DMX · 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
1945
Construction
BRICK
Heating
FORCED AIR
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Phoenix Property Investment LLC
Entity
Free & Clear · 13 yrs held
Mailing address
525 NAYLOR ST, SALISBURY, MD 21804-3749
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2021
—
Phoenix Property Investment
—
Deed
related
$661,548 · Truist Bk
Oct 28, 2019
—
Phoenix Prop Invs LLC
—
Deed
related
$35,000 · Triple Net LP
May 18, 2018
—
Eastern Shr Prop Invs LLC
—
Deed
related
$335,000 · Triple Net LP
May 20, 2013
$250,000
Phoenix Property Investment LLC
Dennis Alan Kalchthaler
Deed
—
Jun 14, 2011
$151,500
Dennis Alan Kalchthaler
Raymond C Shockley
Deed
—
Jan 31, 2001
$250,000
Russell B Ruggerio
Braniecki,kenneth & Susan R
Grant Deed
$200,000 · Peninsula Bank
—
—
Phoenix Prop Invs LLC
—
Deed Of Trust
related
$35,000 · Triple Net LP
—
—
Eastern Shr Prop Invs LLC
—
Deed Of Trust
related
$335,000 · Triple Net LP
—
—
Phoenix Property Investment
—
Deed Of Trust
related
$661,548 · Truist Bk
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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