Historic Office
For Sale
$339,900
105 Pearl St Snow, Snow Hill, MD 21863
Detached two-floor property with original vaults, private parking, and B-1 zoning for professional and office uses.
Property Size2,079 SF
Price / SF$163.49
Days on Market194
Property Features for 105 Pearl St Snow
General Information
Standard status
Active
Size
2,079 SF
Class
A
Property subtype
Multi Tenant Office
Zoning
B-1
Additional Details
Road Access
Yes
Office Units
1
Amenities
original vaults
high ceilings
preserved details
Building Details
Building Size
2,079 SF
Year Built
1897
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
SVN | Miller Commercial Real Estate
(410) 543-2491
Listed By:
Tonney Insley · License #653457
(410) 543-2491
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 3:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Miller Commercial Real Estate
Investment Insights
Based on property information with market context.
Constructed in 1897, this 2,079-square-foot detached office building occupies one unit across two floors. The interior retains two original vaults, high ceilings, and preserved architectural details associated with its former bank-era construction. Second-floor exterior access adds another point of entry, while private parking supports staff and visitors.
The property is located on Pearl Street in Snow Hill, Maryland, with additional access from Bank Street. B-1 zoning supports a range of professional and office uses. Its historic character, two-level configuration, and retained features provide a distinctive setting for an office or other permitted business operation.
The property is located on Pearl Street in Snow Hill, Maryland, with additional access from Bank Street. B-1 zoning supports a range of professional and office uses. Its historic character, two-level configuration, and retained features provide a distinctive setting for an office or other permitted business operation.
Key Highlights
- 2,079 SF historic office building constructed in 1897
- One unit arranged across two floors
- Two original vaults and preserved architectural details
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
$29,077
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
8.55%
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%
$581,540
$581.5K
Cap Rate 7%
$415,386
$415.4K
Cap Rate 9%
$323,078
$323.1K
Market Conditions
NOI Build-Up for 2,079 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
$46.2K $22.20/SF
− Vacancy
−$7.4K −$3.55/SF
EGI
$38.8K $18.65/SF
− OpEx
−$9.7K −$4.66/SF
NOI
$29.1K $13.99/SF
Area
Worcester County, MD
Vacancy
16.00%
Lease Rate
$22.20 /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%
$581,540
Cap Rate 7%
$415,386
Cap Rate 9%
$323,078
Alternative Uses
Best Use
Office B
$415.4K
$363.5K – $484.6K
NOI $29,077 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$499.6K
$437.2K – $582.9K
NOI $34,972 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 21863, MD
4,843
Population
2,152
Households
2.3
Avg Household Size
45
Median Age
26%
College-Educated
92%
High-School Grad
122.5 sq mi
ZIP Area
40
Density / Sq Mi
$71,250
Median Household Income
$37,099
Median Earnings
$1,058
Median Rent
$245,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Detached two-floor property with original vaults, private parking, and B-1 zoning for professional and office uses.
Where is this office building located?
The property is located at 105 Pearl St Snow Snow Hill, MD.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 2,079 SF historic office building constructed in 1897; One unit arranged across two floors; Two original vaults and preserved architectural details
