1001 Philadelphia Avenue,
Ocean City,
Maryland MD21842-3735
Listing IDMDWO2002438
Price$3,400,000
Price/SqFt$582.89
StatusACTIVE
SqFt
5,833
Acres
0.560
CountyWorcester
Year Built1961
Property TypeCommercial Sale
Property Sub TypeOffice
Excellent investment opportunity for a rare high traffic property offering a free standing Medical building Property consist of large .50+ acre lot, 5,833 sqft building, and 26 parking spaces. Currently occupied by well known medical practice tenant with NNN Lease. This property has a very high traffic count and visibility. Demographics for Ocean City is one of the largest tourist attraction for Maryland, In the summer weekends the city hosts between 320,000 and 345,000 vacationers, and up to 8 million visitors annually. During the summer, Ocean City becomes the second most populated municipality in Maryland offering over 200 public and private events that holds over 10,000 hotel rooms and 25,000 condominiums. This particular piece of property in considered a very large parcel in the downtown location. With a number of possibilities it could accommodate large hotel or condominiums for redevelopment. Call direct for more information.
County
Worcester
Price/SqFt
582.89
Property Sub Type
Office
Property Type
Commercial Sale
Year Built
1961
Zoning
R-2
Building Total SqFt Source
Assessor
Central Air
no
Cooling Type
Other
Heating
yes
Heating Type
Other
Car Parking Spaces
26
Construction Materials
Brick
Cooling Fuel
Other
Electric Service
Other
Heating Fuel
Other
Hot Water
Other
Lot Dimensions Source
Assessor
Lot Size Dimensions
0.00 x 0.00
Lot Size Source
Assessor
Lot Size Units
Square Feet
New Construction
no
Sewer Septic
Public Sewer
Tidal Water
no
Total Garage and Parking Spaces
26
Type of Parking
Parking Lot
Water Access
no
Water Oriented
no
Water Source
Public
Water View
no
Country
US
In City Limits
yes
MLS Area
Bayside Interior (83)
Municipality
Ocean City
Waterfront
no
Accessibility Features
2+ Access Exits
Business Type
Medical
Days on Market
882
Land Use Code
003
Municipal Trash
yes
Potential Tenancy
Single
Year Assessed
2022
Year Built Source
Assessor
Acceptable Financing
Cash, Conventional
Automatically Update Tax Values
yes
Lease Considered
no
Net SqFt
5833
Ownership Interest
Fee Simple
Possession
Settlement
Riparian Rights
no
Sale Type
Standard
Tax Annual Amount
24668
Tax Assessed Value
1750033
Tax Data Updated
no
Tax Lot
1
Tax Year
2022
Vacation Rental
no
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Contact - Listing ID MDWO2002438
Debora Hileman
Listing courtesy of Coastal Life Realty Group LLC (443) 235-8382
© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of Coastal Life Realty Group LLC. Data last updated on Thursday, March 28th, 2024 05:50:18 AM.
© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of Coastal Life Realty Group LLC. Data last updated on Thursday, March 28th, 2024 05:50:18 AM.
Data services provided by IDX Broker