2906 Ocean GtwyCambridge, MD 21613

Property Details for 2906 Ocean Gtwy

Year built

1960

Construction

FRAME

Lot size

0.72 AC

Property size (Sq ft)

3,776 SF

Zone code

B-2

Property type

Warehouses

APN

14-002553

APU

14002553

Description

This exceptional mixed-use property, situated at 2906 Ocean Gateway in Cambridge, MD, presents a lucrative investment opportunity. The 0.72-acre lot boasts two buildings totaling over 4,350 square feet of versatile space, ideal for retail or commercial ventures. The strategic location at the intersection of Route 50 ensures high visibility and accessibility, with an estimated 34,000 vehicles passing daily at a 30 mph speed limit. Two convenient highway cut entrances on westbound Route 50, plus rear entrances from Old Route 50, provide ample access. The property benefits from its proximity to the Hyatt Regency Chesapeake Bay Spa and Golf Resort, attracting significant foot and vehicle traffic. The main building features attractive vaulted high ceilings, a bathroom, and an office area, while the rear building offers garage door access from Old Route 50 and significant expansion potential with a 32 x 36 foot second-floor area. The buildings are constructed of concrete block and frame. The total square footage of the buildings is 4,350+/- square feet, while the main building is 3,776 square feet. The Bucktown light provides easy access for traffic traveling in both directions on Route 50. This property offers a unique blend of location, size, and potential, making it an attractive investment for discerning buyers. The asking price is $1,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,377,530

  6.5%

  $1,271,570

  7%

  $1,180,740

• Comparable approach

  Method

  Valuation

  Relative Method

  $352,927

  Geo Method

  $380,077

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $649,198

  Mixed-Use / Specialty

  $644,634

  Hospitality / Lodging

  $470,017

  Office

  $638,460

  Institutional / Educational

  $669,355

  Residential Income

  $783,145

  Multifamily

  $951,737

  Automotive / Energy

  $573,733

  Parking / Income-Based Land

  $200,211

  Restaurant / Food Service

  $330,476

  Healthcare / Senior Housing

  $663,367

Location Insight

City

Cambridge

County

Dorchester

State

Maryland

Latitude

38.5538

Longitude

-76.0422

CBSA code

15700

CBSA name

CAMBRIDGE, MD MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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