Downtown Mixed-Use
New
For Sale
$1,100,000
16-20 W MAIN STREET, Emmitsburg, MD 21727
Restaurant and bar space is combined with three residential rental units and separate entrances.
Property Size5,356 SF
Lot Size0.21 Acres
Price / SF$205.38
Days on Market5
Property Features for 16-20 W MAIN STREET
General Information
Standard status
Active
Size
5,356 SF
Lot size
0.21 Acres
Property subtype
Commercial
Zoning
VZ
Units
Unit Mix
2 x 1BR, 1 x studio
Multifamily Units
3
Additional Details
Business Included
Yes
Road Access
Yes
Liquor License
Yes
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Mackintosh, Inc.
(301) 662-0155
Listed By:
Joseph L Simmel · License #604978
(240) 315-6644
Source:
Cummingsrealtors
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 8 at 6:24AM
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.
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.
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 = 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
$72,873
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
6.62%
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%
$1,457,460
$1.5M
Cap Rate 7%
$1,041,043
$1.0M
Cap Rate 9%
$809,700
$809.7K
Market Conditions
NOI Build-Up for 5,356 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
$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 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%
$1,457,460
Cap Rate 7%
$1,041,043
Cap Rate 9%
$809,700
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.74M – $2.32M
NOI $138,926 @ 7.0% cap · market cap 12.63%
Second Best
Apartment 5plus
$1.04M
$910.9K – $1.21M
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.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
