1 Main StBerlin, MD 21811

  • Mixed-use properties
  • 14,184 SF
For Sale
$1,100,000 View listing

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
1 Main St, Berlin, Maryland

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,601
-
-
$762,167
-
$190,000
$579,100
$769,100

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