Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    21 Main St Berlin, MD 21811-1025

    • Investment properties
    • 2,592 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1255408
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Paul Williams Inc / Construction Company / General Contractor

    Property Details for 21 Main St

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.04 lot acres
    Property size
    2,592 SF
    Zone code
    B-1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    03-033252
    APU
    3033252

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $771,000
      Market price range: $408k - $771k
      AI Estimate
      $564,000
      Market price range: $429k - $564k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $565,000
      Current use
      RETAIL STORES
      $830,000
      Change: +47% Conversion: Easy
      OFFICE BUILDING
      $640,000
      Change: +13% Conversion: Easy
      WAREHOUSE, STORAGE
      $605,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Worcester
    State
    Maryland
    Longitude
    -75.2191
    Latitude
    38.3251
    CBSA code
    41540
    CBSA name
    SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,950
    $0.00
    $0.00
    $221,367
    -
    $95,000
    $127,900
    $222,900

    Comparable in this City

    • Value Estimation
      $2,270,000
      10,300 SF

      113 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 10,300 SF
      113 Main St, Berlin, MD 21811-1001
      View Details
    • Value Estimation
      $620,000
      2,408 SF

      22 Williams St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,408 SF
      22 Williams St, Berlin, MD 21811-1247
      View Details
    • Value Estimation
      $1,270,000
      4,928 SF

      15 Gay St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,928 SF
      15 Gay St, Berlin, MD 21811-1497
      View Details
    • Value Estimation
      $1,460,000
      5,664 SF

      2 Stevenson Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 5,664 SF
      2 Stevenson Ln, Berlin, MD 21811-1555
      View Details
    • Value Estimation by Request
      1,538 SF

      8 Jefferson St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,538 SF
      8 Jefferson St, Berlin, MD 21811-1425
      View Details
    • Value Estimation
      $1,115,000
      4,330 SF

      100 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,330 SF
      100 Main St, Berlin, MD 21811-1002
      View Details

    Similar Nearby for Sale

    • $120,000
      0.19 Acres

      Wooded Lot in Ocean Pines

      Buildable lot with green space near Ocean Pines amenities.
      226 Charleston Rd, Ocean Pines, MD 21811
      View Details
    • $269,900

      Ocean Pines Specialty Property

      Specialty property available for purchase in Ocean Pines, Maryland.
      12 White Sail Cir, Ocean Pines, MD 21811
      View Details
    • $559,000

      Specialty Property for Sale

      Specialty property available for purchase.
      12435 Sea Oaks Ln, Berlin, MD 21811
      View Details
    • Contact for pricing

      Prime Berlin Office Space Available

      Modern offices, various sizes, convenient location.
      11204 Racetrack Rd, Berlin, MD 21811
      View Details
    • $635,000

      River Run Lane Property

      Property on River Run Lane available for sale.
      11324 River Run Ln, Berlin, MD 21811
      View Details
    • Contact for pricing
      21.24 Acres

      Ocean City Retail Space Available

      High-traffic retail space near major anchors.
      11328 Samuel Bowen Blvd, Berlin, MD 21811
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,120 SF

      Professional Office Space in Berlin

      Well-maintained office space available for sublease in Berlin, MD.
      9954 Main St, Berlin, MD 21811
      View Details
    • $26 SF/Yr

      Retail Space in Ocean Pines

      Former Rite Aid in Penington Commons Shopping Center.
      11011 Manklin Creek Rd, Ocean Pines, MD 21811
      View Details
    • $28 SF/Yr
      123,534 SF

      11328 Samuel Bowen Blvd

      Neighborhood centers • 123,534 SF
      11328 Samuel Bowen Blvd, Berlin, MD 21811
      View Details
    • $1,572 /Mo

      Nicholas Lane Specialty Property

      Specialty property available for rent on Nicholas Lane.
      11042 Nicholas Ln, Berlin, MD 21811
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Route 50

      Retail space available on Route 50 in Berlin, MD.
      11408 Ocean Gtwy, Berlin, MD 21811
      View Details
    • $22 SF/Yr

      Medical/Professional Office Space For Rent

      Medical/Professional office space available at Tidal Health's Ocean Pines Campus.
      11107 Cathage Rd, Berlin, MD 21811
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21 Main St
    Berlin, MD 21811-1025
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!