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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Hotels
401 1st St Chesapeake City, MD 21915-1227
Entity Owned
4-yr Hold
Free & Clear
Property ID
US40-0600159
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1930
Construction
WOOD
Total area
4,788 SF
Lot
0.08 ac (3,320 SF)
Zoning code
VC
APN
02-003538
UPID
US40-0600159
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
-
Ship Watch Inn Bed & Breakfast Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$760k
Owner & transaction history
Ship Watch LLC · 4 yrs held
Ship Watch LLC
since 2021
Last sale
$600,000
2 recorded transactions
Zoning & alternative use
VC · Chesapeake 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 Chesapeake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesapeake 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
$790,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,140,000
6.5%
$1,055,000
7%
$980,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$720,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$645,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$570,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$500,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$760k
Range $684k – $836k · ±10% · vs last sale $600k (Aug 16 2021)
Last sale anchor
$600k
Aug 16 2021
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
$159 / 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
$14,182
Tax year 2023
Assessed value
$867,733
Assessed 2023
Previous assessed
$865,367
+0.3% YoY
Effective rate
1.63%
On assessed value
Land market value
$367,200
Improvement market value
$502,900
Total market value
$870,100
Applied tax rate
20.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1930
Construction
WOOD
Heating
HEAT PUMP
Stories
3
Units
1
Total area
4,788 SF
Lot
0.08 ac (3,320 SF)
Zoning code
VC
APN
02-003538
UPID
US40-0600159
Jurisdiction
CECIL
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
VC · Chesapeake City, MDZoning VC · permitted uses
VC · Chesapeake City, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$645,000
RETAIL STORES
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$500,000
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1930
Construction
WOOD
Heating
HEAT PUMP
Stories
3
Units
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Ship Watch LLC
Entity
Free & Clear · 4 yrs held
Mailing address
14 PELHAMDALE CIR, ELKTON, MD 21921-6382
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2021
$600,000
Ship Watch LLC
Martuscelli Enterprises INC
Warranty Deed
—
Feb 13, 2004
$800,000
Martuscelli Enterprises INC
Vaughan,thomas L
Grant Deed
$1,200,000 · County Banking & Trust Co
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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