Building Details

Year built 1949

Number of units 1

Building materials Block

Listing Agency: Garceau Realty g***@garceaurealty.com Show Phone

Listed By: David R Feazell · License #674137 Show Phone

Added: May 20 Changed: Sep 5 Last Checked: Sep 8 at 5:06AM

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MLS# MDCC2021560

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This brewery and restaurant property includes a 10,500-square-foot block building that was fully renovated in 2020. The facility has forced-air heating, central air conditioning, public water and sewer, and parking through an 83-space lot supplemented by on-street parking. The sale includes the business and real estate, with $300,000 in FF&E included, while the property is offered at real estate value only.

The site comprises two parcels totaling 1.02 acres and carries TC zoning. The property is within walking distance of downtown Perryville, approximately 5 minutes from I-95 and Route 40, and is located in Cecil County, Maryland. Originally built in 1949, the building combines a renovated hospitality facility with established brewery and restaurant operations.

Key Highlights

• 10,500SF building fully renovated in 2020
• Two parcels totaling 1.02 Acres with TC zoning
• 83‑space parking lot plus on‑street parking

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$184,086

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

9.20%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$3,681,720 $3.7M

Cap Rate 7%

$2,629,800 $2.6M

Cap Rate 9%

$2,045,400 $2.0M

Market Conditions

NOI Build-Up for 10,500 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$252.0K $24.00/SF

− Vacancy

−$6.6K −$0.62/SF

EGI

$245.4K $23.38/SF

− OpEx

−$61.4K −$5.84/SF

NOI

$184.1K $17.53/SF

Area

Cecil County, MD

Vacancy

2.60%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$3,681,720

Cap Rate 7%

$2,629,800

Cap Rate 9%

$2,045,400

Alternative Uses

Best Use

Specialty Retail

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $184,086 @ 7.0% cap · market cap 9.20%

Second Best

Industrial

$772.4K

$675.9K – $901.2K (±1% cap)

NOI $54,071 @ 7.0% cap · market cap 2.70%

Theoretical Best

Office A

$3.89M

$3.41M – $4.54M (±1% cap)

NOI $272,576 @ 7.0% cap · market cap 13.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

5th Company Brewing Production Facility

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Repair Shop Electrical Service Real Estate Agency Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

145

Businesses Nearby

Explore this area Business Placement

Demographics for 21903, MD

5,835

Population

2,451

Households

2.4

Avg Household Size

43

Median Age

22%

College-Educated

92%

High-School Grad

12.7 sq mi

ZIP Area

459

Density / Sq Mi

$77,500

Median Household Income

$52,520

Median Earnings

$1,053

Median Rent

$271,700

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this breweries located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Brewery - Brewery and restaurant facility with updated systems, public utilities, and substantial on-site parking.

Where is this brewery located?

The property is located at 325 FRONT Street Perryville, MD.

What is the asking price?

The asking price for this property is $1,999,999.

What are key features of this property?

This property features: 10,500SF building fully renovated in 2020; Two parcels totaling 1.02 Acres with TC zoning; 83‑space parking lot plus on‑street parking