12000 Coastal Highway

    OCEAN CITY, MD 21842
    • $11,000,000
    • STATUS: Active
    • ON SITE: 69 days
    • ID#: MDWO102098
    UPDATED: 12 min ago
    $11,000,000
    • 0
      BEDS
    • 1.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 22,000
      SQFT
    • $500
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1991
    County:

    School Ratings & Info

    Description

    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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    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-03-21T08:10:18.587.
    www.darthomes.com/homes/90745937

    12000 Coastal Highway OCEAN CITY, MD 21842

    • Price: $11,000,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: MDWO102098
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.15
    Acres
    22,000
    SQFT
    $500
    $/SQFT
    1991
    Built
    Neighborhood:
    Ocean Block (82)
    County:
    Worcester
    Area:
    Ocean Block (82)
    School District:
    Worcester County Public Schools
    Property Description
    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.
    Exterior Features

    Construction Materials BlockConcrete Garage YN No Other Structures Above GradeBelow Grade Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 22000 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Building Area Total 51767.00 Cooling Wall Unit Fireplaces Total 0 Heating Wall Unit Heating YN Yes Inclusions All FurnitureFixtures & Equipment Necessary To Operate Property As Motel Net Square Feet 51767.00

    Property Features

    Accessibility Features Elevator Assessment Year 2017 Association YN No Business Type Hotel/MotelRestaurantCommercial Central Air YN No Cooling Fuel Electric Ground Rent Payment Frequency Annually Heating Fuel Electric Hot Water Natural Gas Incorporated City Name Ocean City Navigable Water YN N New Construction YN No Number Of Units Total 95 Original MLSNumber 301288346728 Ownership Interest Fee Simple Possession Coin W/Sell Sett Property Sub Type Other Sale Type Standard Sewer Public Sewer Tax Annual Amount 88439.0 Tax Assessment Amount 6446200.0 Tax Lot 5703A Vacation Rental YN No Water Source Public Zoning R-3A

    Listing courtesy of Coldwell Banker Residential - 64.
    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-03-21T08:10:18.587.
     
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