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    510 Fallen Horse Circle Queenstown, MD 21658

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    For Lease
    $14 SF/Yr

    Retail and professional/medical office space for lease in Queenstown.

    Type:Office/Retail
    Property size:
    4,716 SF
    Added:
    Nov 21, 2025
    Days on Market:
    136
    Last Refresh:
    Apr 2 at 12:43 am

    Property Features for 510 Fallen Horse Circle

    General Information

    Standard status
    Active
    Size
    4,716 SF
    Property subtype
    Office/Retail

    Spaces For Lease

    at 510 Fallen Horse Circle Contact us

    We can help!

    Listing Contact
    John Foster

    Listing agent John Foster

    Listing office

    Listing date Nov 21, 2025

    Source Svnmiller

    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 John Foster

    Overview

    Queenstown Retail and Office Space

    Located in the Village at Slippery Hill, this commercial space offers up to 8,065 square feet of first-floor retail and professional/medical office space. Situated directly off Route 50 on the Nesbit Road traffic circle, it is adjacent to the Shore Health Medical Pavilion at Queenstown. Available spaces range from 1,099 to 4,710 square feet. The zoning is Grasonville Gateway and Medical Center (GGMC), allowing for many uses. Lease rates start at $14 per square foot NNN, including a warm vanilla shell. The landlord is willing to include Tenant Improvements for an additional cost. The location is convenient to Kent Island, Annapolis, and Easton. It is located just off US Route 50 across from ER/UMMS. An Enterprise Zone Tax Credit is available. Build-to-suit options are available. Leasing opportunities are available to non-affiliated University of Maryland Medical System medical tenants.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Building Supply Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Queenstown
    County
    Queen Anne's
    State
    Maryland
    Longitude
    -76.1312
    Latitude
    38.9742

    Nearby Similar for Lease

    • Contact for pricing

      Industrial Facility Near US Route 301

      20,000 SF build-to-suit opportunity near US Route 301.
      501 4-H Park Road, Queenstown, MD 21658
      View Details
    • $25/mo

      Medical/Professional Office Space Available

      Up to 8,065 SF of commercial space for lease.
      210 Fallen Horse Cir, Queenstown, MD
      View Details
    • Contact for pricing

      Industrial Facility Near US Route 301

      20,000 SF build-to-suit industrial facility near US Route 301.
      501 4-H Park Rd, Queenstown, MD
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Retail and professional/medical office space for lease in Queenstown.
    Where is this medical office space located?
    The property is located at 510 Fallen Horse Circle Queenstown, MD.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Located directly off Route 50, adjacent to Shore Health Medical Pavilion at Queenstown.; Up to 8,065 SF of commercial space available.; Enterprise Zone Tax Credit.
    (410) 543-2440
    We can help!
    Listing Contact
    John Foster
    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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