RB-Zoned Live-Work
For Sale
$525,000
Pending
110 S QUEEN St, Chestertown, MD 21620
Commercial property with RB live/work zoning and four off-street parking spaces.
Property Size1,785 SF
Days on Market109
Property Features for 110 S QUEEN St
General Information
Standard status
Pending
Size
1,785 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
RB
Taxes and HOA fees
Annual Taxes
$5,109
Building Details
Year Built
1914
Units
1
Listing Agency:
(757) 871-2333
Listed By:
John Paul Graham
(757) 871-2333
Source:
Elliman
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 1:44PM
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 John Paul Graham
Investment Insights
Based on property information with market context.
This 1,785-square-foot live-work property was built in 1914 and is designated RB for combined residential and commercial use. The site includes four off-street parking spaces, adding practical on-site parking for occupants or visitors.
Located in downtown Chestertown at 110 S QUEEN St, the property offers a walk score of 67, classified as Somewhat Walkable, and a bike score of 53, classified as Bikeable.
Located in downtown Chestertown at 110 S QUEEN St, the property offers a walk score of 67, classified as Somewhat Walkable, and a bike score of 53, classified as Bikeable.
Key Highlights
- 1,785 square feet of live‑work space
- RB zoning supports live/work use
- Four off‑street parking spaces
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
$21,688
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
4.13%
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%
$433,760
$433.8K
Cap Rate 7%
$309,829
$309.8K
Cap Rate 9%
$240,978
$241.0K
Market Conditions
NOI Build-Up for 1,785 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
$38.6K $21.60/SF
− Vacancy
−$3.9K −$2.16/SF
EGI
$34.7K $19.44/SF
− OpEx
−$13.0K −$7.29/SF
NOI
$21.7K $12.15/SF
Area
Queen Anne's County, MD
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$433,760
Cap Rate 7%
$309,829
Cap Rate 9%
$240,978
Alternative Uses
Best Use
Mixed Use
$309.8K
$271.1K – $361.5K
NOI $21,688 @ 7.0% cap · market cap 4.13%
Second Best
Office B
$178.8K
$156.4K – $208.6K
NOI $12,515 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$427.6K
$374.2K – $498.9K
NOI $29,935 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 21620, MD
12,726
Population
6,259
Households
2
Avg Household Size
46
Median Age
43%
College-Educated
93%
High-School Grad
118.7 sq mi
ZIP Area
107
Density / Sq Mi
$76,094
Median Household Income
$39,432
Median Earnings
$1,149
Median Rent
$318,700
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?
Live-work space - Commercial property with RB live/work zoning and four off-street parking spaces.
Where is this live-work space located?
The property is located at 110 S QUEEN St Chestertown, MD.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,785 square feet of live‑work space; RB zoning supports live/work use; Four off‑street parking spaces
