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Property profile & analytics
OFF-MARKET
Estimated value
$24,130,000
Hotels
208 Baltimore Ave, Ocean City, MD 21842-4021
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1326212
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1999
Construction
BRICK
Total area
54,551 SF
Lot
0.33 ac (14,200 SF)
Zoning code
B-1
APN
10-030447
UPID
US40-1326212
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
-
Park Place Hotel Hotel & Motel
-
The Coconut Club 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
$24.13M
Owner & transaction history
Buas Bayside Hotel INC · 4 yrs held
Buas Bayside Hotel INC
since 2021
Last sale
$28.0M
5 recorded transactions
Zoning & alternative use
B-1 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$32.3M
+9.6%
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
$30,970,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$29,470,000
Current use
COMMERCIAL (GENERAL)
$32,295,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$24.13M
Range $21.72M – $26.54M · ±10% · vs last sale $28.00M (Dec 21 2021)
Last sale anchor
$28.00M
Dec 21 2021
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
$442 / 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
$163,099
Tax year 2023
Assessed value
$11,570,600
Assessed 2023
Previous assessed
$11,570,600
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$3,630,000
Assessed improvement
$7,940,600
Land market value
$3,630,000
Improvement market value
$7,940,600
Total market value
$11,570,600
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
1999
Construction
BRICK
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
6
Units
1
Total area
54,551 SF
Lot
0.33 ac (14,200 SF)
Zoning code
B-1
APN
10-030447
UPID
US40-1326212
Jurisdiction
WORCESTER
Zoning & alternative use
B-1 · Ocean City, MD
Zoning B-1 · permitted uses
B-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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$29.5M
COMMERCIAL (GENERAL)
Est. value
$32.3M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
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
1999
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
6
Units
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Buas Bayside Hotel INC
Entity
Mailing address
PO BOX 8TH 8, OCEAN CITY, MD 21843-0008
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2021
$28,000,000
Buas Bayside Hotel INC
Hasting Joint Venture LLC
Deed
$18,200,000 · Shore United Bank NA
Jul 26, 2017
—
Hastings Jv LLC
—
Grant Deed
related
$1,200,000 · Bank Of Ocean Cty
Nov 23, 2016
—
Hastings Joint Venture LLC
Gillen,john P & Lynne C
Grant Deed
$7,500,000 · Bank Of Ocean Cty
—
—
Hastings Jv LLC
—
Deed Of Trust
related
$500,000 · Bank Of Ocean Cty
—
—
Hastings Joint Venture LLC
—
Deed Of Trust
related
$250,000 · Peninsula Bank
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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