Address
12614 Ocean Gateway Highway Ocean City, MD
Price
$ 3,485,000
Property Attributes
  • MLS#MDWO116840
  • TypeCommercial
  • CountyWORCESTER
  • CityOcean City
  • AreaWest Ocean City
  • Zip21842
  • StyleApartment Building
  • Year Built1965
  • Taxes$ 14141
  • Price$ 3,485,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size1.82 Acres
Listing Provided Courtesy Of:
Coldwell Banker/Bud Church Rea
Data Source:
Bright MLS
Property Description

Tremendous West Ocean City development opportunity. Either purchase and run the existing totally restored Alamo Motel which consist of 40 totally restored rooms, a 100% restored restaurant and an amazing pool with bar and outside seating. Or purchase and develop. 1.82 Acres of commercially zoned land in the booming West Ocean City market. Rt 50 Exposure with 200 ft of direct access. Across from the Outlets, 2 minutes to downtown Ocean City, 10 minutes to Assateague Island, 2 minutes to the World famous Harbor. As a developmental bonus. The sellers are willing to include at cost, 45 Edus they have obtained to go and transfer with this amazing location. These 45 Edus give this location massive development potential . Seller will not sell Edus to any other entity, they must transfer to the new owner as they are tied to this location only. Call listing agent for all details. Do not show without listing agent present.

Price History
9/14/2020 Listed $3,800,000
11/12/2020 6% - $3,595,000
1/22/2021 3% - $3,500,000
3/2/2021 1% - $3,495,000
3/18/2021 1% - $3,485,000

General Features

Acceptable Financing Cash, Conventional
Accessibility None
Business Type Apartment Building
Construction Materials Block, Brick, Frame
Cool Fuel Electric
Cooling Wall Unit
County WORCESTER
Days on Market 238
Electric 150 Amps
Flooring Ceramic Tile, Tile/Brick, Wood, Other
Heating Forced Air, Wall Unit
Historic Y/N No
MLS Area West Ocean City (85)
Municipality Ocean City
New Construction No
Ownership Fee Simple
Parking Features Private
Possession 0-30 Days CD
Price Per Sq Ft 313.03
Property SubType Five Or More Units
Property Type Commercial Sale
PropertyCondition Good
Roof Metal
Security Features Desk in Lobby, Exterior Cameras
Sewer Public Sewer
Tax Annual Amount 14141.0
Tax Lot 30
Tax Year 2020
Utilities Cable TV, Natural Gas Available
Vacation Rental Y/N No
Water Access Y/N No
Zoning C2

Interior Features

Central Air Y/N No
Clear Span Ceiling Height 8' to 10'
Heating Fuel Electric
Heating Y/N Yes
Hot Water Electric

Exterior Features

Building Area Total 11133.00
Car Parking Spaces 100
Fencing Y/n Yes
Foundation Details Block, Slab
Lot Dimensions 0.00 x 0.00
Lot Features Cleared, Landscaping
Lot Size Acres 1.82
Lot Size Source Assessor
Lot Size Square Feet 79279.00
Navigable Water Y/N No
Road Surface Type Paved, US Highway/Interstate
Roadresponsibility State
Total Parking Spaces 100
Type of Parking Parking Lot
Water Oriented Y/N No
Water Source Well
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 21842

Price
AVG $940K
$3.49M
Taxes
AVG $7,731
$14,141
Visits
AVG 57
149
Year Built
AVG 1978
1965
Walkscore
AVG 47
57
Data Provided by Walkscore ® not using MLS data

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