SELLER FINANCING AVAILABLE: Up to 60% LTC at 8% for 18-24 months. Property tours will take place on Thursday, May 25th from 11:00am to 6:00pm and Friday, May 26th from 9:00am to 2:00pm, by appointment ONLY. Please contact Roman Tsimberg (410-365-1066, roman@nrtrust.com). Investment Highlights: ±6,128 SF Vacant Gas Station and Retail Strip in Ocean City, MD Rarely Available Corner Location with Proven Record Low Inventory and High Demand for Retail Space in this Tourist and Residential Area Multiple Cash Flow Opportunities – 3 Retail Suites Plus 4 Pump Gas Station Tanks, Pumps, Furniture, Freezers, and other TI are Part of the Sale All USTs installed to Code of Maryland (COMAR) 26.10 standards as of August 2016 inspection Value Add Opportunity through Lease Up of the Available Space at Market Rents Investment Overview: Marlin Market (the “Property”) is an exceptional opportunity to own a ±6,128 SF corner retail plaza and gas station located at 9636 Stephen Decatur Highway in Ocean City, Maryland. Constructed in 1992 and renovated in 2012, the structure is of brick construction and features an island with four gas pumps. The Property is the former home to a very successful 3,228 SF restaurant/bar (19th Hole), 2,400 SF retail convenience store & gas station, and 500 SF retail space previously occupied by a Donut Shop. The Property will be sold with equipment and TI enabling a savvy investor or owner-user the possibility of reopening a successful multi-use location within a short period of time. The Property has previously undergone $1MM in infrastructure improvements including permits, site approvals, tank installation, pump installation, canopy construction and other expenses. Marlin Market is equipped with modern gas pumps and four 6,000 gallon underground fuel storage tanks and was successfully operating under SUNOCO brand. The site is currently unbranded. The Property sits on a 1.13 acres corner parcel and is uniquely located south of Route 50 (Ocean Gateway) at the heavily traveled intersection of Route 611 (Stephen Decatur Hwy) and Sunset Avenue. To the south, Stephen Decatur Hwy is the direct access road leading into Assateague State Park. Stephen Decatur Hwy has become an increasingly popular road for residents traveling between Berlin, Ocean City, 4 popular golf courses, and West Ocean City Harbor. Land uses immediately surrounding the Property consists primarily of commercial and retail properties surrounded by residential development. The immediate vicinity is rich with amenities including Food Lion, White Marlin Mall, Panera Bread, Carrabba’s Italian Grill, Outback Steakhouse and other regional tenants. Tanger Outlet Ocean City, is located approximately one mile northeast of the Property, and is an open air mall with a variety of national tenants, including American Eagle Outfitters, Bath & Body Works, Adidas, Under Armour, Rack Room Shoes, Gap Outlet, Coach, J. Crew Factory, Verizon Wireless, Mione’s Italian Restaurant, Sakura, and others. The Property is approximately two miles north of Ocean City Municipal Airport and less than one mile west of Ocean City Harbor. With up to 8 million tourist visits to the area annually, the location is currently experiencing tremendous growth and provides almost no availability for retail inventory. The Property offers significant value add upside potential through lease-up at market rates with a broad range of business establishments or an excellent owner/operator opportunity. Free Asset Summary Report AvailableWe've partnered with Situs, one of the most trusted names in commercial real estate research, to provide unbiased third-party insight for this asset. You can find the full, complimentary Asset Summary Report under the secure due diligence tab above.
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