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Property profile & analytics
OFF-MARKET
Medical Office Space
4 Caroline St Ocean City, MD 21842-4114
Individually Owned
Free & Clear
Property ID
US40-1552811
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
BRICK
Total area
2,554 SF
Lot
0.14 ac (6,200 SF)
Zoning code
B-1
APN
10-027748
UPID
US40-1552811
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
-
Ocean City Health Center - Worcester County Health Department Public Health Department
-
Ocean City Youth Health Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
MAYOR & CITY COUNCIL OCEAN CITY
MAYOR & CITY COUNCIL OCEAN CITY
Zoning & alternative use
B-1 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to provide for an area of commercial uses whose clientele is almost exclusively pedestrians. Special design criteria and parking requirements are appropriate for this district. Residential development is to continue at relatively high intensity.
Zone name
Boardwalk Commercial 1
General category
COMMERCIAL
Zone area
41.09 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Assessed value
$1,341,767
Assessed 2023
Previous assessed
$1,291,933
+3.9% YoY
Land market value
$624,000
Improvement market value
$767,600
Total market value
$1,391,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1978
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
2,554 SF
Lot
0.14 ac (6,200 SF)
Zoning code
B-1
APN
10-027748
UPID
US40-1552811
Jurisdiction
WORCESTER
Zoning & alternative use
B-1 · Ocean City, MDZoning 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
Zoning description
The purpose of this district is to provide for an area of commercial uses whose clientele is almost exclusively pedestrians. Special design criteria and parking requirements are appropriate for this district. Residential development is to continue at relatively high intensity.
Zone name
Boardwalk Commercial 1
General category
COMMERCIAL
Zone area
41.09 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1978
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
MAYOR & CITY COUNCIL OCEAN CITY
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 158, OCEAN CITY, MD 21843-0158
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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