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$450,000 -$50,000 (-10%) Price Reduced

  • For Sale
  • Active
  • Apartment
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Prime Business Opportunity on High-Visibility Water Street in Centreville! Seller financing may be available for buyers with 20% down, 5% interest, amortized at 15 years with a 5 year balloon. Well-established commercial property offering exceptional exposure in a sought-after location. The first floor commercial space features about 1800+ sq' separated between a large retail space, office/kitchen , and storage space. The second floor includes a 2-bedroom, 1-bath apartment-ideal for owner occupancy or rental income. The building offers flexible layout potential and is truly ready for your vision. Downstairs can easily be divided into three sections to rent out separately. 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. Take advantage of the seller financing opportunity and 5% rate!

Full Property Details for 305 E Water St

General

  • Price: $450,000
  • Taxes: $5,577 (2025)
  • Status: Active
  • Type: Apartment
  • Source: BrightMLSMidAtlantic
  • MLS ID: MDQA2015854
  • Updated: 7/28/2026
  • Added to Site: 175 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.: $136.36
  • 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

Get Pre-Approved

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 ATTOM Data Solutions 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
7/28/2026
Price Reduced
$450,000
-10%
MLS
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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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 $450,000 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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