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Property profile & analytics
OFF-MARKET
Estimated value
$49,235,000
Hotels
300 Seabay Ln, Ocean City, MD 21842-6621
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US40-1977892
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2016
Total area
128,933 SF
Lot
3.88 ac (169,013 SF)
Zoning code
LC-1
APN
10-218322
UPID
US40-1977892
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
-
Residence Inn Ocean City Hotel & Motel
-
William Hamilton Physician
-
ATM Machine at Residence Inn Ocean City Atm
-
ocean pines yacht club Yacht Club
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$49.24M
Owner & transaction history
Inns Of Ocean City LLC · 12 yrs held
Inns Of Ocean City LLC
since 2014
6 recorded transactions
Zoning & alternative use
LC-1 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$76.3M
+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
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
HOTEL/MOTEL
$69,655,000
Current use
COMMERCIAL (GENERAL)
$76,335,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$49.24M
Range $44.31M – $54.16M · ±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
$382 / 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
$323,647
Tax year 2023
Assessed value
$24,689,633
Assessed 2024
Previous assessed
$22,960,200
+7.5% YoY
Effective rate
1.31%
On assessed value
Land market value
$5,162,000
Improvement market value
$22,986,500
Total market value
$28,148,500
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
2016
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
8
Units
1
Total area
128,933 SF
Lot
3.88 ac (169,013 SF)
Zoning code
LC-1
APN
10-218322
UPID
US40-1977892
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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$69.7M
COMMERCIAL (GENERAL)
Est. value
$76.3M
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
2016
Heating
PACKAGE
Cooling
Yes
Stories
8
Units
1
Lot
3.88 ac
Current owner
From public records · entity-resolved
Inns Of Ocean City LLC
Entity
Mailing address
8130 BOONE BLVD STE #100, VIENNA, VA 22182-2640
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2022
—
Inns Of Ocean City LLC
—
Deed
related
$30,000,000 · Integrity Life Insurance Company
Mar 28, 2014
$1,600,000
Inns Of Ocean City LLC
Wtfsb Properties LLC
Grant Deed
—
Jun 13, 2013
—
Wtfsb Properties LLC
Sixty-first Street LP
Grant Deed
—
May 25, 2011
—
Wtfsb Properties LLC
Wtfsb Properties LLC
Quit Claim Deed
—
Dec 1, 2009
$4,600,000
Wtsfb Properties LLC
Sixty-first Street
Grant Deed
—
—
—
Sixty-first Street
—
Deed Of Trust
related
$50,000 · Wilmington Trust Fsb
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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