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    Property profile & analytics
    OFF-MARKET Estimated value $575,000
    Investment properties

    32993 Old Ocean City Rd, Parsonsburg, MD 21849-2151

    6,216 SF 0.88 ac lot Built 1920
    Entity Owned 14-yr Hold Free & Clear
    Property ID
    US40-2231782
    Property summary
    AI-generated overview

    This exceptional commercial property, located at 32993 Old Ocean City Road, Parsonsburg, MD, presents a unique investment opportunity. The 6,216 square foot main building sits on a prominent corner lot at the intersection of Old Ocean City Road and Parsonsburg Road, less than a mile from State Route 50, ensuring high visibility and excellent accessibility. The property encompasses a total of 0.88 acres, comprised of two commercially-zoned parcels (203 and 202, totaling 1.38 acres) featuring ample parking, and two additional residential-zoned parcels (200 and 201, totaling 0.5 acres). The seller is actively pursuing rezoning of the residential parcels for commercial use, significantly enhancing the property's future potential. The existing building and substantial parking area are ideally suited for a variety of retail or service-based businesses. The seller is offering owner financing, making this an attractive proposition for qualified buyers. This property's prime location and versatile zoning potential make it an exceptional investment opportunity for entrepreneurs seeking a high-traffic location. Consider this property for businesses such as a Dollar General, self-storage units, or other commercial ventures.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1920
    Construction BRICK
    Total area 6,216 SF
    Lot 0.88 ac (38,333 SF)
    APN 04-004817
    UPID US40-2231782
    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
    • Route 346 Emporium, LLC Furniture & Home Goods
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $450k
    Blend (final) Blend
    $575k
    Owner & transaction history
    Route 346 Emporium LLC · 14 yrs held
    Route 346 Emporium LLC
    since 2012
    3 recorded transactions
    2012
    2011
    $155,000
    2003
    $155,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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