1 Main StBerlin, MD 21811

Property Details for 1 Main St

Year built

1910

Construction

BRICK

Lot size

0.13 AC

Property size (Sq ft)

14,184 SF

Zone code

B-1

Property type

Investment properties

Property subtype

Live-work space

APN

03-033015

APU

3033015

Description

This exceptional investment opportunity presents two adjacent historic retail properties totaling 2,548 square feet, situated on a 0.06-acre lot in the vibrant heart of downtown Berlin, Maryland. The properties boast prime Main Street frontage, directly across from the renowned Atlantic Hotel, ensuring high visibility and foot traffic. 1 South Main Street comprises a charming two-story retail space, featuring a 930-square-foot main unit and an attached 466-square-foot space with a separate entrance. The adjacent 3 South Main Street offers 1,122 square feet of ground-floor retail space, complemented by 1,190 square feet of unfinished space on the second floor, also accessible via a separate entrance. This unfinished space presents significant potential for expansion or adaptive reuse. A delightful park-like area behind the buildings offers additional possibilities for outdoor seating, landscaping, or other creative uses. The properties' rich history includes a notable appearance in the 2001 Disney film "Tuck Everlasting," adding a unique element of charm and potential marketing appeal. This is a rare chance to acquire a significant piece of Berlin's historic downtown, offering immediate income potential and substantial long-term growth opportunities. The asking price for this combined property is $1,100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,456,590

  6.5%

  $4,113,770

  7%

  $3,819,930

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,890,350

  Geo Method

  $1,890,350

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $7,672,370

  Retail / Commercial

  $4,042,760

  Hospitality / Lodging

  $3,129,360

  Office

  $4,178,310

  Institutional / Educational

  $4,307,200

  Residential Income

  $5,039,420

  Multifamily

  $5,570,420

  Automotive / Energy

  $3,691,880

  Parking / Income-Based Land

  $1,189,620

  Restaurant / Food Service

  $2,321,920

  Healthcare / Senior Housing

  $4,130,990

Location Insight

City

Berlin

County

Worcester

State

Maryland

Latitude

38.3247

Longitude

-75.2187

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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