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Property profile & analytics
OFF-MARKET
Estimated value
$1,970,000
Strip malls
3 Atlantic Ave Ocean City, MD 21842-4164
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US40-0671742
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1973
Construction
BRICK
Total area
14,844 SF
Lot
0.33 ac (14,200 SF)
Zoning code
B-1
APN
10-028795
UPID
US40-0671742
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
-
Dream Weaver Clothing & Fashion Store
-
Tony's Pizza Restaurant
-
Shoppers Paradise @North Division street (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.97M
Owner & transaction history
T & T Russo Realty Corp · 22 yrs held
T & T Russo Realty Corp
since 2004
3 recorded transactions
Zoning & alternative use
B-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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,150,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$3,105,000
Change: 0% · Conversion: Moderate
RESTAURANT
$2,150,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,070,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,605,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±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
$133 / 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
$90,226
Tax year 2023
Assessed value
$6,400,800
Assessed 2023
Previous assessed
$6,400,800
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$3,630,000
Assessed improvement
$2,770,800
Land market value
$3,630,000
Improvement market value
$2,770,800
Total market value
$6,400,800
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1973
Construction
BRICK
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
14,844 SF
Lot
0.33 ac (14,200 SF)
Zoning code
B-1
APN
10-028795
UPID
US40-0671742
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
INDUSTRIAL (GENERAL)
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.1M
RESTAURANT
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$1.6M
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
RETAIL STORES
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
1973
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
T & T Russo Realty Corp
Entity
Mailing address
3 ATLANTIC AVE, OCEAN CITY, MD 21842-4164
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2019
—
T & T Russo Realty Corp
—
Loan Modification
related
$3,397,816 · M&t Bk
Apr 13, 2004
$1,400,000
T & T Russo Realty Corp
Fonte,michelle M
Grant Deed
$3,806,349 · Manufacturers Traders & Trust
—
—
T & T Russo Realty Corp
—
Deed Of Trust
related
$416,360 · M&t 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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