Building Details

Year Built 1900

Buildings 1

Listing Agency: Mackintosh, Inc. b***@prodigy.net Show Phone

Listed By: Joseph L Simmel · License #604978 Show Phone

Source: Cummingsrealtors

Added: Sep 6 Changed: Oct 21 Last Checked: Oct 23 at 8:02AM

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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 Mackintosh, Inc.

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Investment Insights

Based on property information with market context.

This mixed-use building at 16-20 W Main St combines a restaurant and bar operation with residential space on the upper two levels. The commercial areas include a dining room and bar, each with access from the front street. A liquor license is included, and the property carries VZ Village Zoning. The residential component consists of two one-bedroom apartments and one studio, each with its own exterior entrance for separation from the business areas.

The 0.21-acre property is situated in the downtown area of Emmitsburg, Maryland, along Main Street. Parking includes a private garage along with on-street options. Built in 1900, the building features classic architectural character and provides a combination of commercial and residential uses within one property.

Key Highlights

• Mixed‑use building with restaurant, bar, and residential components
• Two one‑bedroom apartments and one studio apartment
• Restaurant and bar each have front‑street access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$72,873

Cap Rate

6.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,457,460 $1.5M

Cap Rate 7%

$1,041,043 $1.0M

Cap Rate 9%

$809,700 $809.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,356 SF

Gross rent

$139.5K $26.04/SF

− Vacancy

−$7.0K −$1.30/SF

EGI

$132.5K $24.74/SF

− OpEx

−$59.6K −$11.13/SF

NOI

$72.9K $13.61/SF

Area

Frederick County, MD

Vacancy

5.00%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,457,460

Cap Rate 7%

$1,041,043

Cap Rate 9%

$809,700

Alternative Uses

Best Use

Specialty Retail

$1.98M

$1.74M – $2.32M (±1% cap)

NOI $138,926 @ 7.0% cap · market cap 12.63%

Second Best

Apartment 5plus

$1.04M

$910.9K – $1.21M (±1% cap)

NOI $72,873 @ 7.0% cap · market cap 6.62%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Palms Restaurant

Suggested Use

Top Pick Big Box & Wholesale Store Dental Office Real Estate Agency Law Firm Auto Parts Store Auto Repair Shop

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

Lease Details

3

Residential units

Turnkey business

Opportunity

Yes

Paved road access

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

243

Businesses Nearby

Explore this area Business Placement

Demographics for 21727, MD

6,593

Population

1,838

Households

3.6

Avg Household Size

28

Median Age

25%

College-Educated

84%

High-School Grad

31.3 sq mi

ZIP Area

211

Density / Sq Mi

$92,697

Median Household Income

$21,536

Median Earnings

$824

Median Rent

$304,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Restaurant and bar space is combined with three residential rental units and separate entrances.

Where is this mixed-use property located?

The property is located at 16-20 W MAIN STREET Emmitsburg, MD.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Mixed‑use building with restaurant, bar, and residential components; Two one‑bedroom apartments and one studio apartment; Restaurant and bar each have front‑street access