The Cap'ns Slice Pizza
New
For Sale
$199,000
8 PITTS STREET, Berlin, MD 21811
The sale package includes the restaurant’s equipment, recipes, social media accounts, and tenant interest, subject to landlord consent.
Property Size680 SF
Price / SF$292.65
Days on Market7
Property Features for 8 PITTS STREET
General Information
Standard status
Active
Size
680 SF
Property subtype
Business
Building Details
Year Built
1950
Listing Agency:
Coldwell Banker Realty
(443) 856-2211
Listed By:
Shawn Kotwica · License #rs-0024305
(724) 840-0572
Source:
Cummingsrealtors
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 5 at 7:33PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
The Cap'ns Slice is an established pizza business featuring New York-style slices and specialty pies. Its sale package includes the trade name, goodwill, recipes, furniture, fixtures and equipment, telephone number, Instagram and Facebook accounts, and transferable licenses and permits where assignable. The business occupies 8 Pitts Street; assignment of the tenant’s interest requires landlord consent, and the real estate is not part of the sale.
The shop is in Historic Downtown Berlin and currently operates four days per week without delivery service. Its recognition includes Worcester County pizza honors for 2024 and 2025, as well as a place on PNQ Magazine’s 2025 list of 15 pizzerias to watch. The business also features collaborations with local sauce and beer producers.
The shop is in Historic Downtown Berlin and currently operates four days per week without delivery service. Its recognition includes Worcester County pizza honors for 2024 and 2025, as well as a place on PNQ Magazine’s 2025 list of 15 pizzerias to watch. The business also features collaborations with local sauce and beer producers.
Key Highlights
- Sale includes The Cap'ns Slice trade name, goodwill, recipes, FF&E, phone number, and social media accounts
- Tenant interest at 8 Pitts Street is subject to landlord consent; real estate is excluded
- Currently open four days per week, with no delivery service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,760
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$195,200
$195.2K
Cap Rate 7%
$139,429
$139.4K
Cap Rate 9%
$108,444
$108.4K
Market Conditions
NOI Build-Up for 680 SF
Gross rent
$13.6K $20.04/SF
− Vacancy
−$613 −$0.90/SF
EGI
$13.0K $19.14/SF
− OpEx
−$3.3K −$4.78/SF
NOI
$9.8K $14.35/SF
Area
Worcester County, MD
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$195,200
Cap Rate 7%
$139,429
Cap Rate 9%
$108,444
Alternative Uses
Best Use
Specialty Retail
$139.4K
$122.0K – $162.7K
NOI $9,760 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$163.4K
$143.0K – $190.7K
NOI $11,439 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21811, MD
23,907
Population
15,439
Households
1.5
Avg Household Size
52
Median Age
36%
College-Educated
94%
High-School Grad
101.5 sq mi
ZIP Area
236
Density / Sq Mi
$91,293
Median Household Income
$49,929
Median Earnings
$1,398
Median Rent
$362,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The sale package includes the restaurant’s equipment, recipes, social media accounts, and tenant interest, subject to landlord consent.
Where is this conventional restaurant located?
The property is located at 8 PITTS STREET Berlin, MD.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Sale includes The Cap'ns Slice trade name, goodwill, recipes, FF&E, phone number, and social media accounts; Tenant interest at 8 Pitts Street is subject to landlord consent; real estate is excluded; Currently open four days per week, with no delivery service
