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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Investment properties
209 16th St Ocean City, MD 21842-5521
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US40-1004630
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1981
Construction
BRICK
Total area
6,336 SF
Lot
0.34 ac (15,000 SF)
Zoning code
LC-1
APN
10-040663
UPID
US40-1004630
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
-
Telescope Pictures® - South Ocean City Photography Service (Bike/Boat/Book/etc) Store
-
85 'N Sunny Sports Equipment Rental Service
-
Oceanside Partners LLC (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$985k
Comparable Approach
Comparable
$969k
Blend (final)
Blend
$990k
Owner & transaction history
209 16th LLC · 10 yrs held
209 16th LLC
since 2015
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,070,000
6.5%
$985,000
7%
$915,000
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±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
$156 / 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
$9,418
Tax year 2023
Assessed value
$668,100
Assessed 2023
Previous assessed
$668,100
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$312,500
Assessed improvement
$355,600
Land market value
$312,500
Improvement market value
$355,600
Total market value
$668,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1981
Construction
BRICK
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
6,336 SF
Lot
0.34 ac (15,000 SF)
Zoning code
LC-1
APN
10-040663
UPID
US40-1004630
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
1981
Construction
BRICK
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
209 16th LLC
Entity
Mailing address
1509 SAINT LOUIS AVE, OCEAN CITY, MD 21842-5549
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Oct 1, 2015
$850,000
209 16th LLC
Boardwalk Inn INC
Grant Deed
$725,000 · Boardwalk Inn INC
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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