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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Turn key restaurants
407 Talbot St, St Michaels, MD 21663
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US40-0452964
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Construction
WOOD
Total area
2,616 SF
Lot
0.14 ac (6,000 SF)
APN
02-063271
UPID
US40-0452964
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Theo's Steaks, Sides & Spirits - St. Michaels Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$599k
Blend (final)
Blend
$600k
Owner & transaction history
Me Three LLC · 15 yrs held
Me Three LLC
since 2010
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs St Michaels submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs St Michaels submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$570,000
Current use
MEDICAL BUILDING
$520,000
Change: -9% · Conversion: Difficult
OFFICE BUILDING
$485,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$600k
Range $540k – $660k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$229 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,244
Tax year 2023
Assessed value
$687,900
Assessed 2023
Previous assessed
$655,000
+5.0% YoY
Effective rate
1.20%
On assessed value
Land market value
$504,000
Improvement market value
$249,700
Total market value
$753,700
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Units
1
Total area
2,616 SF
Lot
0.14 ac (6,000 SF)
APN
02-063271
UPID
US40-0452964
Jurisdiction
TALBOT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$570,000
MEDICAL BUILDING
Est. value
$520,000
OFFICE BUILDING
Est. value
$485,000
RESTAURANT Current
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Units
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Me Three LLC
Entity
Mailing address
9630 PO BOX 1227TH DR, ST MICHAELS, MD 21663-1227
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2018
—
Me Three LLC
—
Deed
related
$480,000 · Cnb
Aug 12, 2010
$670,000
Me Three LLC
Christian & Co LLC
Grant Deed
$647,300 · Christian & Co LLC
Dec 7, 2006
—
John F Chute
Chute,john F & Suzanne M
Quit Claim Deed
related
—
Sep 27, 2004
—
John F Chute
Chute,john F
Quit Claim Deed
related
—
Oct 2, 2003
$275,000
John F Chute
Eveland,barbara D
Grant Deed
—
—
—
Me Three LLC
—
Deed Of Trust
related
$600,000 · Christian & Co LLC
—
—
Me Three LLC
—
Deed Of Trust
related
$100,000 · Branch Bk&tr
—
—
Me Three LLC
—
Deed Of Trust
related
$100,000 · Branch Bk&tr
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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