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Property profile & analytics
OFF-MARKET
Estimated value
$4,015,000
Retail space
511 Atlantic Ave, Ocean City, MD 21842-4167
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-1479846
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1940
Construction
BRICK
Total area
4,316 SF
Lot
0.16 ac (7,100 SF)
Zoning code
BC-2
APN
10-032490
UPID
US40-1479846
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
-
Olive Garden Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.02M
Owner & transaction history
J M C Osean City LLC · 5 yrs held
J M C Osean City LLC
since 2021
Last sale
$3.8M
3 recorded transactions
Zoning & alternative use
BC-2 · Ocean City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+84.6%
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
$4,205,000
ML approach
$4,265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,555,000
Change: +85% · Conversion: Easy
Blend value · Realmo final
$4.02M
Range $3.61M – $4.42M · ±10% · vs last sale $3.80M (Apr 23 2021)
Last sale anchor
$3.80M
Apr 23 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
$930 / 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
$31,509
Tax year 2023
Assessed value
$2,235,300
Assessed 2023
Previous assessed
$2,235,300
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$1,815,000
Assessed improvement
$420,300
Land market value
$1,815,000
Improvement market value
$420,300
Total market value
$2,235,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1940
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
3
Units
2
Total area
4,316 SF
Lot
0.16 ac (7,100 SF)
Zoning code
BC-2
APN
10-032490
UPID
US40-1479846
Jurisdiction
WORCESTER
Zoning & alternative use
BC-2 · Ocean City, MD
Zoning BC-2 · permitted uses
BC-2 · 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
COMMERCIAL (GENERAL)
Est. value
$2.6M
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
1940
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
3
Buildings
2
Units
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
J M C Osean City LLC
Entity
Mailing address
511 ATLANTIC AVE, OCEAN CITY, MD 21842-4167
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2021
—
Jmc Ocean City LLC
—
Deed
related
$1,562,000 · Chesapeake Busines Finance Corp
Apr 23, 2021
$3,800,000
J M C Osean City LLC
William G B Ochse
Deed
$1,925,500 · The Bank Of Delmarva
—
—
William G B Ochse
—
Deed Of Trust
related
$510,000 · Shorebank
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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