1 Main StBerlin, MD 21811
- Mixed-use properties
- 14,184 SF
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
- Mixed-use properties
- Property subtype
- Other investment properties
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,993,972
- 6.5%
- $3,686,744
- 7%
- $3,423,404
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,853,282
- Geo Method
- $1,853,282
-
Alternative Use
- Use
- Valuation
- Residential
- $4,571,562
- Hospitality
- $4,187,526
- Educational
- $3,483,972
- Medical
- $3,603,792
- Retail
- $5,419,513
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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