12000 COASTAL HWY $11,000,000

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    12000 COASTAL HWY OCEAN CITY, MD 21842

    • 22,000 sq.ft.
    • 1.15 Acres
    • Commercial
    MLS# MDWO102098 | ACTIVE

    $11,000,000

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    Days On Market: 67 0 Views
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    Property Details

    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.

    • General Features
      • County WORCESTER
      • HOA Y/N N
      • New Construction Y/N N
      • Sale Type Standard
      • Tax Annual Amount 88439.0
      • Tax Year 2018
      • Water Access Y/N N
      • Waterfront Y/N N
      • Year Built 1991
      • Zoning R-3A
    • Building Features
      • Attached Garage Y/N N
      • Building Total SqFt 51767.00
      • Building Units Total 95
      • Business Type Hotel/Motel, Restaurant, Commercial
      • Cooling Fuel Electric
      • Cooling Type Wall Unit
      • Heating Fuel Electric
      • Heating Type Wall Unit
      • Sewer Septic Public Sewer
      • Total Living Area 22000
    • Property Features
      • Lot Size Acres 1.15
    • Schools
      • School District WORCESTER COUNTY PUBLIC SCHOOLS

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    Neighborhood

    21842 (OCEAN CITY) Demographics

    53Median Age
    1,242Population Density (per sq. mile)
    39%College Educated
    $54,717Estimated Median Income
    3,751Estimated Total Home Owners
    1,324Estimated Total Renters
    74% / 26%Estimated Owner / Renter Divide
    2Estimated Average Household Size
    11,036Total Population

    Market Last 30 Days

    $268,500 Median Sales Price
    89 Homes Sold
    83 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $11,000,000
        1/10/2019 11:57:00 AM New in Database Source

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