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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Turn key restaurants
605 2nd St, Chesapeake City, MD 21915-1220
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US40-1515634
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1996
Construction
BRICK
Total area
10,829 SF
Lot
0.75 ac (32,670 SF)
Zoning code
VC
APN
02-001926
UPID
US40-1515634
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
-
The Deck Bar & Pub
-
Chesapeake Inn Restaurant & Marina Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.70M
Blend (final)
Blend
$1.70M
Owner & transaction history
Chesapeake Inn · 7 yrs held
Chesapeake Inn
since 2018
7 recorded transactions
Zoning & alternative use
VC · Chesapeake City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+39.2%
Commercial (general)
$1.5M
+25.2%
Industrial (general)
$1.4M
+23.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,165,000
Current use
OFFICE BUILDING
$1,625,000
Change: +39% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,460,000
Change: +25% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,440,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$1,290,000
Change: +10% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,130,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10%
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
$157 / 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
$48,432
Tax year 2023
Assessed value
$2,963,300
Assessed 2023
Previous assessed
$2,958,800
+0.2% YoY
Effective rate
1.63%
On assessed value
Land market value
$697,300
Improvement market value
$2,270,500
Total market value
$2,967,800
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1996
Construction
BRICK
Heating
YES
Cooling
YES
Buildings
2
Stories
3
Units
2
Total area
10,829 SF
Lot
0.75 ac (32,670 SF)
Zoning code
VC
APN
02-001926
UPID
US40-1515634
Jurisdiction
CECIL
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
VC · Chesapeake City, MD
Zoning 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
Chesapeake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1996
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
3
Buildings
2
Units
2
Lot
0.75 ac
Current owner
From public records · entity-resolved
Chesapeake Inn
Individual
Mailing address
605 2ND ST, CHESAPEAKE CITY, MD 21915-1220
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2018
—
Chesapeake Inn
—
Deed
related
$4,800,000 · M & T Bank
Feb 14, 2018
—
Martuscelli & Montefusco INC
—
Deed
related
$550,000 · M&t Bk
Dec 5, 2016
—
Martuscelli & Montefusco Incorporat
—
Deed
related
$625,000 · M & T Bank
Feb 12, 2007
—
Martuscelli & Montefusco INC
—
Trustees Deed
related
$500,000 · Mercantile County Bank
—
—
Martuscelli & Montefusco INC
—
Deed Of Trust
related
$400,000 · M & T Bank
—
—
Martuscelli & Montefusco INC
—
Deed Of Trust
related
$3,850,000 · M & T Bank
—
—
Martuscelli & Montefusco INC
—
Deed Of Trust
related
$500,000 · Mercantile County Bank
—
—
Martuscelli & Montefusco INC
—
Loan Modification
related
$550,000 · M&t Bk
—
—
Martuscelli & Montefusco INC
—
Deed Of Trust
related
$4,200,000 · Pnc Bank
—
—
Martuscelli & Montefusco INC
—
Deed Of Trust
related
$350,000 · Pnc Bank
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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