For more information on this property, contact Deborah Grimm at

203 Greene Street
Cumberland, Maryland MD 21502-2877
Price: $999,900
Listing ID MDAL2003274
SqFt 13,053
Acres 0.550
Year Built 1890

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.
Deborah Grimm

Primary Features

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
Navigable Water: no
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: 242
Land Use Code: C
Potential Tenancy: Multiple
Property Condition: Good
Property Manager: N
Property Use: Owner User
Year Assessed: 2023
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: 7141
Tax Assessed Value: 359300
Tax Data Updated: yes
Tax Year: 2023
Vacancy Allowance Rate: 5
Vacation Rental: no

Zoning Info

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Perry Wellington Realty, LLC

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