Lease to Own
Address
7501 Coastal Highway, Ocean City, MD
Price
$ 2,350,500
Property Attributes
- MLS#MDWO2011340
- TypeCommercial
- CountyWORCESTER
- CityOcean City
- AreaBayside Interior
- Zip21842
- StyleApartment Building,Hair Salon and Spa,Professional
- Year Built1960
- Taxes$ 18271
- Price$ 2,350,500
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage9624
- Lot Size0.3 Acres
Data Source:
Bright MLS
Property Description
Welcome to 7501 Coastal Hwy - The PERFECT place to build your business! With four levels of work space and 5800(+/-) sq ft, the possibilities are endless! Right off of Coastal Hwy in Midtown OC guarantees a ton of exposure, with prominent signage right on the strip and plenty of parking in a private, paved lot. Enter the office to find a bright entry that will make your customers feel right at home. With a beautiful fireplace and open space for seating and a large TV or projector, this space is both welcoming and functional. The first level comes equipped with SIX enclosed offices, a large room perfect for meetings or communal workspace, two bathrooms, and two separate areas for supply storage. Head downstairs to find a large, open room at ground floor level with access to the alley behind the building and garage storage. Head up a wide, modern staircase to find another large space perfect for conducting meetings or communal work. This space leads out to a balcony facing 75th St for another entry point or employee breaks. Head up to the third floor to find even more - another FIVE enclosed office spaces, common areas and a kitchen and breakroom. Listed separately, but available to accompany purchase, is 102 75th St - Consisting of two separate rental buildings, each containing two 3 BR, 1 BA units. All four rental units come with parking spaces for two cars. A great way to add income! Please contact listing agents for more information. Lease option is available for interested parties. Looks can be deceiving from the outside but you'll be amazed at the potential of this space! Come see it for yourself today!
| Price History | |
|---|---|
| 11/24/2022 | Listed $3,495,000 |
| 7/13/2023 | 3% - $3,395,000 |
| 1/31/2024 | 9% - $3,100,000 |
| 4/3/2024 | 25% - $2,350,500 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Other |
| Cooling | Ductless/Mini-Split |
| Possession | Coin w/Sell Sett |
| Roof | Unknown |
| Zoning | LC-1 |
| Construction Materials | Mixed |
| Year Built | 1960 |
| Property SubType | Mixed Use |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Business Type | Apartment Building,Hair Salon and Spa,Professional |
| Accessibility | 32 + wide Doors,Other |
| County | WORCESTER |
| New Construction | No |
| Property Type | Commercial Sale |
| Water Access Y/N | No |
| Transportation | Airport less than 10 miles,Bus Stop less than 1 mile |
| Status | ACTIVE |
| Directions | Coastal Hwy to 7501 on the West Side |
| ModificationTimestamp | 2024-04-23T13:25:54 |
| City | OCEAN CITY |
| Buyer Agent Compensation | 2 |
| Total Units | 1 |
| MLS Area | Bayside Interior (83) |
| Lot Size Square Feet | 13075.00 |
| Tax Assessed Value | 1296200.0 |
| Waterfront Y/N | No |
| Street Name | COASTAL |
| Tax Annual Amount | 18271.0 |
| Price Per Sq Ft | 403.59 |
| Acceptable Financing | Cash,Conventional |
| Historic Y/N | No |
| Lease Considered Y/N | No |
| Vacation Rental Y/N | No |
| Days on Market | 525 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | Oceanbay City |
| Tax Lot | 1 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Hot Water | Electric |
| Heating Y/N | Yes |
| Street Suffix | HIGHWAY |
| Central Air Y/N | No |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking Spaces | 10 |
| Type of Parking | Driveway,Parking Lot |
| Land Use Code | C |
| Water View Y/N | No |
| Building Area Total | 5824.00 |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.30 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
| Car Parking Spaces | 10 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 21842
Price
Taxes
Visits
Year Built
Walkscore
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