For Sale
$1,775,000

8451 Ocean GtwyEaston, MD 21601

High-traffic location, strong NOI, redevelopment potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Easton, MD, retail property presents a compelling investment opportunity. The 5,407 square foot Easton Diner, situated on a 1.34-acre lot at 8451 Ocean Gateway, boasts a prime location on Route 50, a major thoroughfare connecting Washington D.C., Baltimore, and Ocean City. With a 6.14% cap rate and a strong NOI of $108,900, this single-tenant, fee-simple property offers significant potential. The building, constructed in 1981 and renovated in 2020, features a fully equipped commercial kitchen, ample parking (84 spaces), and a capacity for approximately 187 patrons. The current lease, a NNN agreement, has a remaining term of approximately 3.3 years, expiring February 29, 2028. The property is zoned CG and benefits from high visibility and accessibility, with an average daily traffic count of roughly 50,000 vehicles, significantly increasing during peak seasons. This redevelopment opportunity, classified as Class B, offers a unique chance to capitalize on a high-demand location and strong existing business. The asking price is $1,775,000, translating to $328.28 per square foot. The property's features include one building, one story, and 100% occupancy.

Highlights

  • Easton, MD retail property; 5,407 SF on 1.34-acre lot.
  • Prime Route 50 location, high traffic counts (approx. 50,000 daily).
  • Strong financials: 6.14% cap rate, $108,900 NOI, $1,775,000 asking price ($328.28/SF).
  • NNN lease with 3.3 years remaining (expires 2/29/2028); 100% occupancy.
  • Single-tenant Easton Diner; 84 parking spaces, capacity for ~187 patrons.

Property Details for 8451 Ocean Gtwy

Property type
Retail properties, Restaurants
Square Feet
5,407 SF
Class
B
Year Built/Renovated
1981/2020
Buildings
1
Stories
1
Lot Size (sq. ft)
58,370 SF
Units
1

Location Insight

City
Easton
County
Talbot
State
Maryland
Latitude
38.780907729387
Longitude
-76.060110627796
8451 Ocean Gtwy, Easton, Maryland

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8451 Ocean Gtwy
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