Multifamily
Bay Street Estates
509 Bay St, Berlin, MD 21811
Listing Price: $8,000,000
Cap Rate
7.14%
Number of Units
57
GRM
7.55
Price/Unit
$140,351
Price/Gross SF
$145.45
Gross SF
55,000
Investment Overview
The property consists of fifty seven units. There are sixteen, two-bedroom one-bathroom units and forty-one, three-bedroom one and a half bathroom units. The property was built between 1989-1990 and is
situated on +/- 4.11 acres.
Bay Street Estates
Investment Highlights
- Easy Access to Route 113 and Route 50
- Immediate Organic Rent Growth Opportunity
- Close Proximity to Ocean City, MD Allows for Abundant Outdoor Recreational Activities
- Permitted to Bring Five Additional Units Back Online Bringing the Property to a Total of 62 Units
Exclusively Listed By
Broker of Record
Listing Price: $8,000,000
Cap Rate
7.14%
Number of Units
57
GRM
7.55
Price/Unit
$140,351
Price/Gross SF
$145.45
Gross SF
55,000
Investment Highlights
- Easy Access to Route 113 and Route 50
- Immediate Organic Rent Growth Opportunity
- Close Proximity to Ocean City, MD Allows for Abundant Outdoor Recreational Activities
- Permitted to Bring Five Additional Units Back Online Bringing the Property to a Total of 62 Units
Investment Overview
The property consists of fifty seven units. There are sixteen, two-bedroom one-bathroom units and forty-one, three-bedroom one and a half bathroom units. The property was built between 1989-1990 and is situated on +/- 4.11 acres.
Exclusively Listed By
Broker of Record
