Property profile

32993 Old Ocean City Rd Parsonsburg, MD 21849

OFF-MARKET
Investment properties
Property ID
US40-2231782
6,216 SF 0.88 ac lot Built 1920
Entity Owned 14-yr Hold Free & Clear
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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

Current use

Occupant on record · Public records
  • Furniture & Home Goods

Location

32993 Old Ocean City Rd Parsonsburg, MD 21849-2151
Parsonsburg metro Census 10604 SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA
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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

since 2012
3 recorded transactions
2012
Price N/A
2011
$155,000
2003
$155,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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