208 Market StCumberland, MD 21502

Property Details for 208 Market St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.47 AC

Property size (Sq ft)

12,194 SF

Zone code

I-G

Property type

Auto shops

APN

06-032141

APU

6032141

Description

This exceptional 12,194 square foot mixed-use property at 208 Market Street in Cumberland, MD, presents a rare investment opportunity. Originally constructed in 1900 as an ice house for the Queen City Brewery, the building was converted into a six-bay truck repair facility in 1980 and operated successfully until 2024. Situated on a generous 1.47-acre lot, the property boasts significant advantages including over 500 feet of frontage on Wills Creek, proximity to the Western Maryland Scenic Railroad, and its location near the eastern terminus of the GAP Trail and a quarter-mile walk from the C&O Canal's Western Terminus at Canal Place. The substantial brick and steel structure features seven large drive-in doors, providing ample access for various uses. Beyond the 12,194 square feet of main floor space, there are an additional 3,386 square feet of concrete roof decks with well-maintained roofing. The building is designed to support heavy floor loads. Ample parking is available on the large lot. The property is conveniently located just 1,500 feet from Cumberland's town center, yet sits adjacent to, but outside of, the Historic District. This versatile property offers immense potential for a variety of uses, including continued operation as a truck repair facility, or redevelopment into a nightclub, health club, restaurant, loft apartments, antique store, art gallery, retail space, or other creative ventures. The property's unique history, substantial size, and prime location make it an exceptional investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $3,284,390

  6.5%

  $3,031,750

  7%

  $2,815,190

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,535,590

  Geo Method

  $2,535,590

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,871,770

  Mixed-Use / Specialty

  $3,037,280

  Hospitality / Lodging

  $2,249,620

  Office

  $3,036,250

  Institutional / Educational

  $3,163,380

  Residential Income

  $3,701,160

  Multifamily

  $4,348,400

  Automotive / Energy

  $2,711,470

  Parking / Income-Based Land

  $919,554

  Restaurant / Food Service

  $1,614,580

  Healthcare / Senior Housing

  $3,097,920

Location Insight

City

Cumberland

County

Allegany

State

Maryland

Latitude

39.6541

Longitude

-78.7666

CBSA code

19060

CBSA name

CUMBERLAND, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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