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Property profile & analytics
OFF-MARKET
Estimated value
$1,715,000
Retail space
2901 Philadelphia Ave Ocean City, MD 21842-3562
Trust Owned
17-yr Hold
Free & Clear
Property ID
US40-2297867
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Total area
11,665 SF
Lot
22.7 ac (988,812 SF)
Zoning code
BMUD
APN
10-049350
UPID
US40-2297867
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
-
Wildcat Roller Coaster
-
Ocean City Giant Wheel Travel Agency Tour Operator
-
Wave Pool Swimming Pool Family Recreation Center
-
Speedworld Go-Karts Go-Kart Track Theme Park
-
Barracuda Roller Coaster
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.86M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.72M
Owner & transaction history
24a Trust · 17 yrs held
24a Trust
since 2008
1 recorded transaction
Zoning & alternative use
BMUD · 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%
$2,010,000
6.5%
$1,855,000
7%
$1,720,000
Blend value · Realmo final
$1.72M
Range $1.54M – $1.89M · ±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
$147 / 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
$116,041
Tax year 2023
Assessed value
$8,232,200
Assessed 2023
Previous assessed
$8,232,200
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$7,907,200
Assessed improvement
$325,000
Land market value
$7,907,200
Improvement market value
$325,000
Total market value
$8,232,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1964
Heating
NONE
Buildings
5
Stories
1
Units
4
Total area
11,665 SF
Lot
22.7 ac (988,812 SF)
Zoning code
BMUD
APN
10-049350
UPID
US40-2297867
Jurisdiction
WORCESTER
Zoning & alternative use
BMUD · Ocean City, MD
Zoning BMUD · permitted uses
BMUD · 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
1964
Heating
NONE
Stories
1
Buildings
5
Units
4
Lot
22.7 ac
Current owner
From public records · entity-resolved
24a Trust
Trust
Free & Clear · 17 yrs held
Mailing address
PO BOX 572, OCEAN CITY, MD 21843-0572
Ownership since
2008
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 7, 2008
—
24a Trust
Jenkins Charles R Trust
Grant 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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