Price$999,900
Beds
0Baths
13,053Sf
Listing IDMDAL2003274
Price/SqFt$76.60
StatusACTIVE
Acres
0.550
CountyAllegany
Year Built1890
Property TypeCommercial Sale
Property Sub TypeMixed Use
Listing Agent
Deborah Grimm
Email: grimedy77@gmail.com
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.
County
Allegany
Price/SqFt
76.6
Property Sub Type
Mixed Use
Property Type
Commercial Sale
Year Built
1890
Zoning
B-L
Building Total SqFt Source
Assessor
Central Air
yes
Cooling Type
Ceiling Fan(s), Central A/C, Heat Pump(s)
Heating
yes
Heating Type
Steam
Building Units Total
2
Car Parking Spaces
15
Construction Materials
Brick
Cooling Fuel
Electric
Heating Fuel
Natural Gas, Electric
Hot Water
Electric
Lot Features
Cleared, Corner, Front Yard, Landscaping, Other
Lot Size Source
Assessor
Lot Size Units
Square Feet
New Construction
no
Sewer Septic
Public Sewer
Tidal Water
no
Total Garage and Parking Spaces
15
Type of Parking
Parking Lot
Water Access
no
Water Oriented
no
Water Source
Public
Water View
no
Country
US
In City Limits
yes
MLS Area
W Cumberland - Allegany County (MDAL3)
Municipality
Cumberland
Views
City
Waterfront
no
Accessibility Features
Level Entry - Main, Ramp - Main Level
Business Type
Apartment Building, Bed and Breakfast, Day Care Facility, Flex, Funeral Home, Medical, Other/General Retail, Professional, Restaurant/Bar, Religious Facility, School, Vet/Kennel
Days on Market
24
Land Use Code
C
Potential Tenancy
Multiple
Property Condition
Good
Property Manager
N
Property Use
Owner User
Year Assessed
2022
Year Built Source
Assessor
Association Recreation Fee
N
Automatically Update Tax Values
yes
Cap Rate
0.08
Gross Scheduled Income
81225
Inclusions
List to be provided.
Net Operating Income
52796
Net SqFt
10428
Operating Expense
28429
Operating Expense Includes
Other
Ownership Interest
Fee Simple
Possession
Negotiable
Riparian Rights
no
Sale Type
Standard
Tax Annual Amount
7197
Tax Assessed Value
359300
Tax Data Updated
yes
Tax Year
2022
Vacancy Allowance Rate
5
Vacation Rental
no
Contact - Listing ID MDAL2003274
Perry Wellington Realty, LLC
1103 N. Juniata Street
Hollidaysburg, PA 16648
Phone: 814-695-5323
Phone Alt: 814-934-5246
Fax: 866-615-5412
Offices in MD, WV, FL and SC
Data services provided by IDX Broker

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