Building Details

Building Size 9,380 SF

Year Built 1900

Listing Agency: SVN/Miller Commercial Real Estate

Listed By: Andrew Ball · License #MD #36569 Show Phone

Source: Svn

Added: Nov 21, 2025 Changed: Sep 4 Last Checked: Oct 4 at 7:27AM

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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 / Yr

$96,934

Cap Rate

7.46%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $96,934 @ 7.0% cap · market cap 7.46%

Second Best

Apartment 5plus

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,278 @ 7.0% cap · market cap 6.80%

Theoretical Best

Office A

$2.25M

$1.97M – $2.63M (±1% cap)

NOI $157,787 @ 7.0% cap · market cap 12.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Hair Salon Auto Parts Store Building Supply Law Firm Big Box & Wholesale Store

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

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space 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?

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.