12000 COASTAL HIGHWAY Ocean City, MD $ 11,000,000
12000 COASTAL HIGHWAY
$ 11,000,000

12000 COASTAL HIGHWAY Ocean City, MD, 21842

$ 11,000,000
Bedrooms Baths0.0 Sq 22,000

Monthly Estimate*

$ 42,649

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12000 COASTAL HIGHWAY, Ocean City, MD 21842 - Image 1
12000 COASTAL HIGHWAY, Ocean City, MD 21842 - Image 2

Commercial Property for sale in Ocean City, MD

for $11,000,000. This 22,000 square foot building was built in 1991 on a lot size of 1.15 Acre(s).

Property is Identified as the Coastal Palms Motel. Sale includes: 12000 Coastal Hwy; 12004 Coastal Hwy; 12012 Assawoman Drive; Assawoman Drive Lot 15. Tax Id Nos. 10-149312; 10-149096; 10-359716; 10-149053. 95 Unit Motel with Restaurant - The popular Crab Cake Factory - There is convention and meeting space. Also includes a free standing home on the ocean block. Description of Site:44, 920 +/- Square Feet / Ocean Block - 9 Lots-Lots 21, 22, 23, 27, 28, 29, 30, 31 &32Block 104, Plat - Fenwick5, 000 +/- Square Feet / Ocean Block - Lot 15Block 104, Plat - FenwickDescription of Improvements:50, 502 +/- Square Feet Building Area - 2 Buildings95 Unit Motel with 34 Suites and 60 Standard Rooms & 1 - 3 bedroom, 2 bath apartment, Potential Convention / Meeting AreasRestaurant, Outdoor Pool & Deck AreaOffice - Lobby Area with Breakfast Area for guestsStorage, Mechanical Rooms - On Site ParkingSingle Family Home - 1, 265 +/- Square Feet w/ 2 Bedrooms & 2 Full Bathrooms, Situated on 5, 000 +/-Square Foot LotZoning: R3ACompleted Major renovations in Winter/Spring of 2012:All Rooms--New Paint and drywall repair.-New carpet.-Newly sprayed popcorn ceilings/ new drop ceilings in restrooms.-New light fixtures.-All furniture replaced.Exterior--New paint and EFIS repair as necessary.-New roof.Spring of 2017:-Game room and fitness center added to property.-Guest room bathrooms renovated with new toilets.-New tile in bathrooms and room entryways.-Parking lot sealed.-Elevator cars renovated.2018:-Mechanical components of elevators completely upgraded.

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Commercial Active

Price

$ 11,000,000

Property Type

Commercial

Taxes

$ 88,439

Style

Other / Unknown

Lot Size

1.15 Acre(s)

Year Built

1991

Town/City

Ocean City

County/Region

Worcester

MLS | Web ID

MDWO102098

Features
Interior
Cooling System Electric Cooling Wall Unit(s)
Heating Source Electric
Heating System Hot Water Heater: Gas Wall Unit
Interior Elevator(s)
Sewer Public Sewer
Water Source Public Water
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Exterior
Construction Concrete
Siding Block Exterior
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* Excluded Features
List By

Listing Agent

Coldwell Banker Residential - 64

Broker


Affordability

$ 50,019 per month
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Monthly Principal & Interest
$42,649
Monthly Property Taxes
$7,370
Monthly Home Insurance
--

Default based on a 30-year fixed rate of 4.125% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby
WORCESTER COUNTY PUBLIC SCHOOLS School District

Map


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12000 COASTAL HIGHWAY, Ocean City, MD, 21842 is a Commercial Property for sale at $11,000,000 with 22,000 sqft and a lot size of 1.15 Acre(s). 12000 COASTAL HIGHWAY has 0.0 baths and was built in 1991. The property's zip code is 21842 which is in Ocean City, MD