14101 Coastal Hwy
OCEAN CITY, MD 21842

$3,950,000

Description

HUGE PRICE REDUCTION BUY ALL OR PART! PRICED BELOW ASSESSED VALUE WHICH IS $5,197,800 FOR THE BUILDING AND THE LOTS! RESTAURANT & MAIN LOT CAN BE BOUGHT FOR $2,100,000! Exceptional opportunity to continue as a restaurant location or redevelop or convert the building to other uses. Hotel, Condominiums or Retail. Three lots have a total of 85,405 sf of land. Lot A 26 Condos or 56 Hotel Rooms. Lot B 47 Condos or 99 Hotel Rooms. Lot C 4 Condos or 14 Hotel Rooms. The current building seats 625 and there are a total of 140 parking space PLUS ample street parking. Current building could be converted to retail with 12,000 sf of public space and 4,500 sf of storage space. Plus there is storage and employee housing on the second floor. Gross square footage is 23,535+/-. Owner will be auctioning the furniture, fixtures & equipment.

Details

MLS#1002345626
StyleIndustrial
Sub-TypeResale
StatusActive
Year1977
Days On Site123

Features

SQ Feet16,500
Story(s)0
ZoningLC-1

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Area Information

StateMD
CityOCEAN CITY
Zip Code21842
AreaBayside Interior (83)
Listing VS Median (in 21842)
Price:
$3,950,000
low | high
Med:
$319,900
100% of Average
SqFt:
16,500
low | high
Med:
1,474
100% of Average
$ / SqFt:
$239
low | high
Med:
$217
59.342527866994% of Average
On Site:
123
low | high
Med:
48
100% of Average
Listing Updated: 03/24/2019
MLS Number: 1002345626
Listing Provided By:
Edward T Wehnert  of  Coldwell Banker Residential - 64