163 Mechanic StCumberland, MD 21502

Property Details for 163 Mechanic St

Year built

1918

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

2,876 SF

Zone code

B-CBD

Property type

Office buildings

APN

14-003029

APU

14003029

Description

This charming, historic brick building at 163 N Mechanic Street in Cumberland, MD, presents a unique investment opportunity. Spanning 3,856 square feet on a 0.23-acre lot, this mixed-use property offers exceptional versatility. Its previous use as professional office space showcases its adaptability for a variety of modern applications. The dual-level configuration allows for creative space planning, catering to diverse business needs or residential conversion. A significant advantage is the inclusion of a large private parking lot, a rare and valuable asset in this desirable location. The building's prime location near downtown Cumberland ensures high visibility and accessibility, attracting both customers and tenants. The property's character-rich architecture and timeless appeal combine with its practical features to create a compelling investment prospect for entrepreneurs and investors alike. The asking price is $235,000. This property is ready for its next chapter, offering a blend of historical charm and modern practicality. Its strategic location and ample parking make it an exceptional opportunity in the vibrant Cumberland market. Serious inquiries are encouraged to explore the full potential of this remarkable building.

• CAP approach

  CAP return

  Valuation

  6%

  $684,518

  6.5%

  $631,862

  7%

  $586,729

• Comparable approach

  Method

  Valuation

  Relative Method

  $575,027

  Geo Method

  $575,027

• Alternative Use

  Use

  Valuation

  Residential

  $783,509

  Hospitality

  $717,690

  Educational

  $597,110

  Medical

  $617,645

  Retail

  $928,838

Location Insight

City

Cumberland

County

Allegany

State

Maryland

Latitude

39.6541

Longitude

-78.7646

CBSA code

19060

CBSA name

CUMBERLAND, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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