10587 Mount Savage RdLa Vale, MD 21502

Property Details for 10587 Mount Savage Rd

Year built

1994

Lot size

0.57 AC

Property size (Sq ft)

1,872 SF

Zone code

B-1

Property type

Retail properties

Property subtype

Auto shops

APN

20-007036

APU

20007036

Description

This exceptional 3,532 square foot auto shop, located at 10587 Mount Savage Rd NW in La Vale, Maryland (zip code 21502), presents a unique investment opportunity. Situated on a 0.57-acre lot (APN 0120007036), this fee simple property boasts 22 parking spaces, ensuring ample room for customers and inventory. Built in 1994, the building features a main garage measuring 40' x 32' with a 16' interior height, an auto lift, an office, a bathroom, and second-level storage. The property is zoned B-1 and currently operates as an auto inspection and pre-owned auto retail sales business. The asking price is $675,000, translating to $191.11 per square foot. The property's prime location in the Cumberland/Corriganville area offers high visibility and traffic, maximizing its potential. This turnkey operation (excluding autos) offers endless possibilities for a variety of uses. The sale includes three additional residential buildings on the property, currently generating rental income. This is a rare opportunity to acquire a well-established business with significant upside potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $654,966

  6.5%

  $604,584

  7%

  $561,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $943,205

  Geo Method

  $943,205

• Alternative Use

  Use

  Valuation

  Residential

  $509,989

  Hospitality

  $467,147

  Educational

  $388,661

  Medical

  $402,028

  Retail

  $604,584

Location Insight

City

Cumberland

County

Allegany

State

Maryland

Latitude

39.6933

Longitude

-78.7863

CBSA code

19060

CBSA name

CUMBERLAND, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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