$999,900 203 GREENE STREET , CUMBERLAND
- Property Type: Commercial Sale
- Address: 203 GREENE STREET
- City / Zip:CUMBERLAND, MD 21502
- Heated Sq Ft:13,053
- Building Sq Ft:13,053
- Year Built:1890
- Date Listed:05/18/2022
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.
- Listing provided courtesy of the MLS.