Historic Mixed-Use Building For
For Sale
$1,299,000
110 West Green Street, Snow Hill, MD 21863
Renovated 6-unit building with commercial and residential spaces.
Property Size9,380 SF
Price / SF$138.49
Days on Market273
Property Features for 110 West Green Street
General Information
Standard status
Active
Size
9,380 SF
Property subtype
Retail
Building Details
Building Size
9,380 SF
Year Built
1900
Listing Agency:
SVN/Miller Commercial Real Estate
(410) 422-3672
Listed By:
Andrew Ball · License #MD #36569
(410) 422-3672
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 19
Last Checked: Aug 21 at 5:34AM
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.
Located at 110 West Green Street, this historic 9,380 square foot building presents a prime investment opportunity. Constructed in 1900 and renovated into 2024, the property features six units, including four commercial spaces and two residential apartments, with views of the Pocomoke River. The B-1 zoning provides versatile potential for retail enterprises. The building is a short drive from Ocean City beaches and Berlin. The second floor contains two luxury three-bedroom apartments. Two commercial units have been completely renovated, while the other two are under construction. Each unit is separately metered for water and electric. The owner is in the process of converting the building into six condominium units and will provide all relevant information to the new owner. The property includes a new roof, HVAC systems, and appliances in the residential units. All furniture, fixtures, and equipment can remain or be removed.
Key Highlights
- Meticulously renovated in 2024, blending historic charm with modern updates.
- Six units (4 commercial, 2 residential) offering diverse income streams.
- Prime B‑1 zoning allows for versatile retail enterprises.
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
$96,934
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
7.46%
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%
$1,938,680
$1.9M
Cap Rate 7%
$1,384,771
$1.4M
Cap Rate 9%
$1,077,044
$1.1M
Market Conditions
NOI Build-Up for 9,380 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
$149.7K $15.96/SF
− Vacancy
−$11.2K −$1.20/SF
EGI
$138.5K $14.76/SF
− OpEx
−$41.5K −$4.43/SF
NOI
$96.9K $10.33/SF
Area
Worcester County, MD
Vacancy
7.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,938,680
Cap Rate 7%
$1,384,771
Cap Rate 9%
$1,077,044
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.62M
NOI $96,934 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,278 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,787 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Multifamily 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?
Retail space - Renovated 6-unit building with commercial and residential spaces.
Where is this retail space located?
The property is located at 110 West Green Street Snow Hill, MD.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Meticulously renovated in 2024, blending historic charm with modern updates.; Six units (4 commercial, 2 residential) offering diverse income streams.; Prime B‑1 zoning allows for versatile retail enterprises.
