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131-135 Baltimore St
Cumberland, MD 21502
Sale, lease-renovated store in a tourist area · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Hi foot traffic count
EXECUTIVE SUMMARY
This property is available for sale, lease, or lease with option to buy. This is an early 1900s building located in the the middle of the historic downtown Cumberland mall. It is completely renovated. This is a very attractive tourist location, enhanced by arts festivals, biking, and a scenic railroad.
The city and county have undertaken a large project to modernize its and convert the 1800s buildings to residences. (A small CVS closed because the renovation project temporarily reduced sales.) The city gives various grants and tax benefits for new businesses. As a result, new tenants and owners are moving into the area, and many new residents, such as digital nomads are attracted. A boutique hotel is nearing completion a block away from the subject property.
The building is suitable for multiple uses, but the downtown mall needs a general store with some groceries, pharmacy or a convenience store with multiple uses. It could also be a second-hand clothing store or consignment store. It could be pet care store. Some equipment was left in the property to facilitate a quick business startup to serve the increasingly populous downtown mall.
The property spans approximately 11,000 square feet, including a second floor of about 800 square feet that could be converted into an apartment. The property also includes a basement of about 5068 sf. The building is in very good condition and has a brand new roof. Contact tvakrinos at gmail, 703-7314844
The city and county have undertaken a large project to modernize its and convert the 1800s buildings to residences. (A small CVS closed because the renovation project temporarily reduced sales.) The city gives various grants and tax benefits for new businesses. As a result, new tenants and owners are moving into the area, and many new residents, such as digital nomads are attracted. A boutique hotel is nearing completion a block away from the subject property.
The building is suitable for multiple uses, but the downtown mall needs a general store with some groceries, pharmacy or a convenience store with multiple uses. It could also be a second-hand clothing store or consignment store. It could be pet care store. Some equipment was left in the property to facilitate a quick business startup to serve the increasingly populous downtown mall.
The property spans approximately 11,000 square feet, including a second floor of about 800 square feet that could be converted into an apartment. The property also includes a basement of about 5068 sf. The building is in very good condition and has a brand new roof. Contact tvakrinos at gmail, 703-7314844
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,204 SF
Building Class
B
Year Built
1900
Price
$485,000
Price Per SF
$31.90
Percent Leased
29%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.68
Lot Size
0.13 AC
Opportunity Zone
Yes
Zoning
BCBD - The zoning is currently commercial. The upstairs can be converted to an apartment. The main floor fully renovated, ready for an immediate occupancy.
AMENITIES
- Signage
- Storage Space
- Fiber Optic Internet
PROPERTY TAXES
| Parcel Number | 22-011464 | Improvements Assessment | $242,500 |
| Land Assessment | $42,100 | Total Assessment | $284,600 |
PROPERTY TAXES
Parcel Number
22-011464
Land Assessment
$42,100
Improvements Assessment
$242,500
Total Assessment
$284,600
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