Commercially Zoned Development Land

142nd Street @ Coastal Highway Ocean City, MD 21842

142nd Street @ Coastal Highway, Ocean City, MD, 21842
142nd Street @ Coastal Highway, Ocean City, MD, 21842
FOR SALE
Property Type:
Commercial Land Development
Amount:
$1,400,000
Last Verified:
Jan 11, 2021

Highlights

  • *Zoned LC1 - Local Commercial
  • *Located near hotels, town homes, condominiums and single family homes.
  • *Average traffic count of 30,000 automobiles per day
  • *Within walking distance of the Atlantic Ocean
  • *Add'l 1.66 acres behind this site could be purchased separately.

Description

.65 acres of land located at the northwest intersection of 142nd Street & Coastal Highway (bayside). 3 parcels (5 lots) being sold as a package. Add'l land is available behind this site.

Ocean City is a year round resort and is one of the most popular vacation destinations on the east coast and receives over 8 million visitors each year and has more than 25,000 condominiums and 10,000 hotel rooms.

Located on 142nd Street on Coastal Highway.

Lot Size: 0.65 acres

Map of 142nd Street @ Coastal Highway, Ocean City, MD, 21842

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.