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203 Greene Street

CUMBERLAND, MD 21502
  • $999,900
  • STATUS: Active
  • ON SITE: 89 Days
  • ID#: MDAL2003274
UPDATED: 78 min ago
$999,900
  • 0
    BEDS
  • 0.55
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1890
County:

School Ratings & Info

Description

Entrepreneurs and investors: Listen up!! There is much to digest when it comes to this Commercial/Residential property! Current owner wants to sign a lease to remain in the building with his Chiropractic business. The dentist who has been a tenant for many years, too! There is a total of 10,428 sq ft which includes 4 residential apartments and provides a gross income of $81225. Factoring in a vacancy and credit loss of 5%. Operating expenses are estimated at 35% of the Effective Gross Income. Net operating expenses are estimated at $28,429. A commercial appraisal was conducted on the property in Oct/21. Priced separately at 201 Greene St are 2 additional apts. and a potential 3rd unit at $199900. These 2 units are on separate gas and electric and have Central AC. Each unit brings in $750 @ month. Also included is a large garage and 23+/- paved parking spaces. The doctor and dentist's offices could be converted to additional residential units with some modifications. Think about a spectacular single fam. or establish the main floor as an owner's living quarters and let the rents pay for the building.Centrally located and turn key condition, this property boasts many possible uses and with its high visibility, high traffic count, and massive sq ftg, you have the ability to think outside the box! . Owner has taken great care of the maintaining the building for many years. Although not so now, there is a possibility of this area becoming part of the historic district at some point which would introduce new tax breaks, etc. The Commercial appraisal done in 2021 will be provided to a qualified buyer upon request.Please note: address includes 203-205 Greene St. and 201 Greene St is an adjacent property and can be purchased separately.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Debbie Jett | Exp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-16T21:01:37.133.
www.debbiejett.com/homes/128839946
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203 Greene Street CUMBERLAND, MD 21502

  • Price: $999,900
  • Status: Active
  • On Site: 89 Days
  • Updated: 78 min ago
  • ID#: MDAL2003274
0
Beds
0
Baths
0
½ Baths
0.55
Acres
1890
Built
Neighborhood:
W Cumberland - Allegany County (Mdal3)
County:
Allegany
Area:
W Cumberland - Allegany County (Mdal3)
School District:
Allegany County Public Schools
Property Description
Entrepreneurs and investors: Listen up!! There is much to digest when it comes to this Commercial/Residential property! Current owner wants to sign a lease to remain in the building with his Chiropractic business. The dentist who has been a tenant for many years, too! There is a total of 10,428 sq ft which includes 4 residential apartments and provides a gross income of $81225. Factoring in a vacancy and credit loss of 5%. Operating expenses are estimated at 35% of the Effective Gross Income. Net operating expenses are estimated at $28,429. A commercial appraisal was conducted on the property in Oct/21. Priced separately at 201 Greene St are 2 additional apts. and a potential 3rd unit at $199900. These 2 units are on separate gas and electric and have Central AC. Each unit brings in $750 @ month. Also included is a large garage and 23+/- paved parking spaces. The doctor and dentist's offices could be converted to additional residential units with some modifications. Think about a spectacular single fam. or establish the main floor as an owner's living quarters and let the rents pay for the building.Centrally located and turn key condition, this property boasts many possible uses and with its high visibility, high traffic count, and massive sq ftg, you have the ability to think outside the box! . Owner has taken great care of the maintaining the building for many years. Although not so now, there is a possibility of this area becoming part of the historic district at some point which would introduce new tax breaks, etc. The Commercial appraisal done in 2021 will be provided to a qualified buyer upon request.Please note: address includes 203-205 Greene St. and 201 Greene St is an adjacent property and can be purchased separately.
Exterior Features

Construction Materials Brick Garage YN No Lot Features ClearedCornerFront YardLandscapingOther Parking Types Parking Lot Property Condition Good Riparian Rights YN No View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 13053.00 Cooling Ceiling Fan(S)Central A/CHeat Pump(S) Heating Steam Heating YN Yes Inclusions List To Be Provided. Net Square Feet 10428.00

Property Features

Accessibility Features Level Entry - MainRamp - Main Level Assessment Year 2022 Business Type Apartment BuildingBed And BreakfastDay Care FacilityFlexFuneral HomeMedicalOther/General RetailProfessionalRestaurant/BarReligious FacilitySchoolVet/Kennel Central Air YN Yes Cooling Fuel Electric Heating Fuel Natural GasElectric Hot Water Electric Municipality Cumberland Navigable Water YN N Net Operating Income 52796.00 New Construction YN No Number Of Units Total 2 Operating Expense 28429.00 Operating Expense Includes Other Original MLSNumber 801571080752 Ownership Interest Fee Simple Possession Negotiable Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 7197.00 Tax Assessment Amount 359300.00 Vacation Rental YN No Water Source Public Zoning B-L

Listing courtesy of Perry Wellington Realty, Llc.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Debbie Jett | Exp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-16T21:01:37.133.
 
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