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    310 TALBOT St St Michaels, MD 21663

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    For Lease
    $3,500 /Mo

    Restaurant/Bar space for rent in historic St. Michaels.

    Type:Commercial
    Added:
    Apr 28, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 28 at 1:53 am

    Property Features for 310 TALBOT St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Brian K Gearhart
    Brian K Gearhart

    Listing agent Brian K Gearhart License #510143

    Listing office Benson & Mangold, LLC

    Listing date Apr 28, 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 Benson & Mangold, LLC

    Overview

    Turnkey Restaurant/Bar in St. Michaels

    This turnkey wine and spirits bar/restaurant is available for rent in the heart of St. Michaels. The high-profile location offers onsite parking and is situated in the historic district. The property is suitable for various uses, including a restaurant, deli, or bakery. There is also potential for office space or an apartment above the existing space. The current owner has a liquor license that may be transferable. The building has been updated with new plumbing, electric, flooring, and fixtures. The location offers great visibility and curb appeal. The bike score is 68, indicating it is bikeable, while the walk score is 0, indicating it is somewhat walkable. The rental rate is $3,500 per month for the first-floor space.
    Location Intelligence

    Current Use by Public Records

    The Fool's Lantern Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Bistro St. Michaels — 403 S Talbot St, St Michaels, MD 21663
    • LYON RUM // Windon Distilling Company — 605 S Talbot St UNIT 6, St Michaels, MD 21663
    • Eastern Shore Brewing — 605 S Talbot St, St Michaels, MD 21663
    • Bordeleau Vineyards — 500 S Talbot St, St Michaels, MD 21663
    • GRAY WOLF® // craft distilling — 605 S Talbot St #6, St Michaels, MD 21663

    Location Insight

    • Map
    • Local Demand
    City
    St Michaels
    County
    Talbot
    State
    Maryland
    Longitude
    -76.2239411
    Latitude
    38.7837883

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant/Bar space for rent in historic St. Michaels.
    Where is this bar & pub located?
    The property is located at 310 TALBOT St St Michaels, MD.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    What are key features of this property?
    This property features: Turnkey Wine & Spirits Bar/Restaurant in a high‑profile St. Michaels location.; Onsite parking in the heart of historic St. Michaels.; Liquor license potentially transferable.
    (410) 310-5179
    We can help!
    Listing Contact
    Brian K Gearhart
    Brian K Gearhart
    Real Estate License ID: 510143
    Learn More
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    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
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