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Property profile & analytics
OFF-MARKET
Estimated value
$50,580,000
Hotels
2800 Baltimore Ave, Ocean City, MD 21842-3442
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1162565
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1987
Construction
BRICK
Total area
115,544 SF
Lot
1.03 ac (45,000 SF)
Zoning code
R-2
APN
10-049237
UPID
US40-1162565
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
-
Solstice Oceanfront Bar & Grill Restaurant
-
Hilton Garden Inn Ocean City Oceanfront Hotel & Motel
-
Dunes Manor Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$54.46M
Blend (final)
Blend
$50.58M
Owner & transaction history
Osean City Hotels LLC · 4 yrs held
Osean City Hotels LLC
since 2021
Last sale
$47.6M
1 recorded transaction
Zoning & alternative use
R-2 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$68.4M
+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
$52,650,000
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
$62,420,000
Current use
COMMERCIAL (GENERAL)
$68,410,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$50.58M
Range $45.52M – $55.64M · ±10% · vs last sale $47.60M (Dec 20 2021)
Last sale anchor
$47.60M
Dec 20 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
$438 / 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
$215,194
Tax year 2023
Assessed value
$15,266,300
Assessed 2023
Previous assessed
$15,266,300
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$11,250,000
Assessed improvement
$4,016,300
Land market value
$11,250,000
Improvement market value
$4,016,300
Total market value
$15,266,300
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
1987
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
11
Units
1
Total area
115,544 SF
Lot
1.03 ac (45,000 SF)
Zoning code
R-2
APN
10-049237
UPID
US40-1162565
Jurisdiction
WORCESTER
Zoning & alternative use
R-2 · Ocean City, MD
Zoning R-2 · permitted uses
R-2 · 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
$62.4M
COMMERCIAL (GENERAL)
Est. value
$68.4M
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
1987
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
11
Units
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Osean City Hotels LLC
Entity
Mailing address
100 DUNBAR ST STE #402, SPARTANBURG, SC 29306-5189
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2021
$47,600,000
Osean City Hotels LLC
Genesar INC
Deed
$46,350,000 · Fifth Third Bank NA
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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