Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Flex/Industrial Space For Lease Title is generated by Realmo AI

    28370 SAINT MICHAELS Rd, Easton, MD 21601

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $8 SF/Yr $12,333/Mo (calc)

    Flex/industrial space with office areas, excellent visibility, and accessibility.

    Type:Industrial
    Property size:
    18,500 SF
    Added:
    May 9, 2026
    Days on Market:
    15
    Last Refresh:
    May 9 at 2:10 am

    Property Features for 28370 SAINT MICHAELS Rd

    General Information

    Standard status
    Active
    Size
    18,500 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    Florence Brotzman

    Listing agent Florence Brotzman License #597618

    Listing office SVN/Miller Commercial Real Estate

    Listing date May 9, 2026

    Source Elliman

    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

    HighLights

    • Prime Location: Adjacent to Waterside Village at Easton, close to Route 50, Downtown Easton, and the future University of Maryland Shore Regional Health complex.
    • 18,500 sq.ft. Flex/Industrial Space: Featuring 14,500 sq.ft. of flex/warehouse space and 4,000 sq.ft. of office space.
    • Excellent Visibility: Prominent location offering high visibility for businesses.
    • Updated Features: Includes updated LED lighting, fresh paint, and a new overhead door.
    • Well‑Appointed Office Space: Features first and second‑floor office areas.
    • Very Walkable: Walk Score of 75 indicating a Very Walkable location.

    Overview

    This flex/industrial space at 28370 St. Michaels Road offers a leasing opportunity with excellent visibility. The property is situated adjacent to Waterside Village at Easton and in close proximity to Route 50, Downtown Easton, and the future University of Maryland Shore Regional Health complex. The property is under new ownership and undergoing enhancements, including updated LED lighting, fresh paint, and a new overhead door. The space includes first and second-floor office areas, with additional second-floor storage. The total area is 18,500 square feet, including 14,500 square feet of flex/warehouse space and 4,000 square feet of office space. The location has a bike score of 55, indicating it is bikeable, and a walk score of 75, indicating it is very walkable.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Law Firm Spa & Massage Center Auto Repair Shop Big Box & Wholesale Store Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Easton
    County
    Talbot
    State
    Maryland
    Longitude
    -76.0913358
    Latitude
    38.7795792

    Nearby Similar for Lease

    • $2,000/Mo

      Retail Space in Easton Center

      Retail space available in a grocery-anchored shopping center.
      8223 ELLIOTT Road, EASTON, MD 21601
      View Details
    • $1,950/Mo

      Easton Retail/Office Space Available

      1557 SF retail/office space near downtown Easton.
      25 CREAMERY Lane, EASTON, MD 21601
      View Details
    • $1,950/Mo
      1,557 SF

      Easton Retail/Office Space Available

      1,557 SF retail/office space near downtown Easton.
      25 CREAMERY Ln, Easton, MD 21601
      View Details
    • $2,950/Mo
      1,431 SF

      Downtown Easton Retail/Office Space

      Retail or office space in historic downtown Easton.
      13 N HARRISON St, Easton, MD 21601
      View Details
    • $3,400/Mo

      Downtown Easton Commercial Space Available

      Former veterinary clinic in downtown Easton available for rent.
      320 GLEBE Rd, Easton, MD 21601
      View Details
    • $6 SF/Yr
      20,000 SF

      Easton Warehouse/Distribution Space Available

      20,000 SF warehouse/distribution space for lease in Easton, MD.
      500 Cadmus Ln, Easton, MD
      View Details
    • $17 SF/Yr
      1,185 SF

      Easton Office Space For Rent

      Office suites available in well-located Easton business park.
      29509 Canvasback Drive, Easton, MD 21601
      View Details
    • $14 SF/Yr
      3,100 SF

      Downtown Easton Professional Office Space

      Elegant 3100 SF office space in historic downtown Easton.
      32 N. Washington Street, Easton, MD 21601
      View Details
    • $1,650/Mo

      Retail Space on Harrison Street

      Retail space available for rent on Harrison Street.
      24 N Harrison St #A, Easton, MD 21601
      View Details
    • Contact for pricing

      Renovated Office Space in Easton

      Recently renovated office building in Easton's historic district.
      29-31 E. Dover Street, Easton, MD 21601
      View Details
    • $16 SF/Yr
      3,000 SF

      Retail Space Near Walmart

      Grocery-anchored shopping center space available near Walmart.
      8223-8231 Elliott Rd, Easton, MD
      View Details
    • $1,430/Mo

      Easton Commercial Space For Rent

      Commercial space available for rent in Easton, Maryland.
      350 N Aurora St, Easton, MD 21601
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex/industrial space with office areas, excellent visibility, and accessibility.
    Where is this flex space located?
    The property is located at 28370 SAINT MICHAELS Rd Easton, MD.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Prime Location: Adjacent to Waterside Village at Easton, close to Route 50, Downtown Easton, and the future University of Maryland Shore Regional Health complex.; 18,500 sq.ft. Flex/Industrial Space: Featuring 14,500 sq.ft. of flex/warehouse space and 4,000 sq.ft. of office space.; Excellent Visibility: Prominent location offering high visibility for businesses.
    (410) 543-2419
    We can help!
    Listing Contact
    Florence Brotzman
    Real Estate License ID: 597618
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    28370 SAINT MICHAELS Rd, Easton, MD 21601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!