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$500,000 Just Listed

  • For Sale
  • Active
  • Apartment
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Prime Business Opportunity on High-Visibility Water Street in Centreville! Well-established commercial property offering exceptional exposure in a sought-after location. The first floor features a large retail, office, and storage space that has successfully housed a communications company for 26 years. The second floor includes a 2-bedroom, 1-bath apartment-ideal for owner occupancy or rental income. Previously operated as a restaurant, the building offers flexible layout potential and is truly ready for your vision. Situated on nearly a half-acre lot, the property boasts a generous parking area with 15+ spaces and room for future expansion. A rare opportunity for entrepreneurs, investors, or owner-operators looking to establish or grow their business in the heart of Centreville.

Full Property Details for 305 E Water St

General

  • Price: $500,000
  • Taxes: $5,577 (2025)
  • Status: Active
  • Type: Apartment
  • Source: BrightMLSMidAtlantic
  • MLS ID: MDQA2015854
  • Updated: 2/6/2026
  • Added to Site: 1 day(s) ago

Business

  • Business Type: Apartment Building, Other/General Retail, Profession

Parking

  • Total Spaces: 18
  • Parking Type: Parking Lot

Location

  • Municipality: Centreville
  • County: QUEEN ANNES
  • Driving Directions: gps
  • City Limits: Yes

Heating & Cooling

  • Cooling Type: Wall Unit, Window Unit(s)
  • Cooling Fuel: Electric
  • Heating Type: Baseboard - Hot Water
  • Heating Fuel: Oil
  • Water Heater: Propane

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Block
  • Foundation: Slab
  • Roof: Architectural Shingle
  • Entry Floor Number: 1
  • Stories/Levels: 2
  • Building Size: 3300
  • Year Built: 1962
  • Year Built Source: Assessor

Unit Information

  • # Tenants: Multiple
  • Other Units: Unit 1, Unit 2

Lot Features

  • Lot Size (Acres): 0.47
  • Lot Size (Sq. Ft.): 20,400
  • Lot Size Source: Assessor
  • Zoning: C3

Financial Considerations

  • Price Per Sq. Ft.: $151.52
  • Assessment Year: 2025
  • City/TownTax: $2,214
  • City/TownTax Freq: Annually
  • County Tax: $3,362
  • County Tax Freq: Annually
  • Tax w/Assessment: $414,000
  • Tax Amount: $5,577
  • Tax Year: 2025

Disclosures and Reports

  • Ownership: Fee Simple

Listed by Chesapeake Real Estate Associates, LLC, Maryn J. LeClair

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Listing agent

— 305 E Water St —

  • Maryn J. LeClair

    Chesapeake Real Estate Associates, LLC

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 305 E Water St

School District:Queen Annes County Public Schools
NameGradesDistance
Kennard Elementary School
420 Little Kidwell Avenue, Centreville, MD 21617
3-50.4 mi
Centreville Elementary School, Centreville, MD
213 Homewood Avenue, Centreville, MD 21617
PK-20.6 mi
Centreville Middle School
231 Ruthsburg Road, Centreville, MD 21617
6-80.9 mi
Queen Anne's County High School
125 Ruthsburg Road, Centreville, MD 21617
9-120.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 305 E Water St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/06/2026
Listed
$500,000
270.37%
MLS
1/21/2000
Sold
$135,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 305 E Water St

Year
Property Taxes
Change
Tax Assessment
Change
2023
$5,763
—
$414,000
5%
2023
$5,763
—
$394,600
1%
2023
$5,763
21%
$390,167
2%
2021
$4,745
—
$380,700
—
2020
$4,734
—
$380,100
—
2019
$4,749
6%
$379,500
6%
2018
$4,492
6%
$356,500
7%
2017
$4,249
9%
$333,500
7%
2016
$3,895
-2%
$310,500
1%
2015
$3,956
-3%
$307,833
1%
2014
$4,086
—
$305,167
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Chesapeake Real Estate Associates, LLC, Maryn J. LeClair

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305 E Water Street, Centreville, MD 21617 (MLS# MDQA2015854) is a Apartment property. 305 E Water Street is currently listed for $500,000 and was received on February 06, 2026. Want to learn more about 305 E Water Street? Do you have questions about finding other Apartment real estate for sale in Centreville? You can browse all Centreville real estate or contact a Coldwell Banker agent to request more information.

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