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    124 Bedford St Cumberland, MD 21502

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    Sponsored
    For Sale
    $180,000

    MULTI_FAMILY - CUMBERLAND, MD

    Property size:
    2,340 SF
    Lot size:
    0.04 Acres
    Days on Market:
    40
    Last Refresh:
    Mar 15 at 11:06 pm

    Property Features for 124 Bedford St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    Parking features
    On Street
    Fireplace
    1
    Size
    2,340 SF
    Lot size
    0.04 Acres

    Utilities

    Heating system
    Electric (Heating), Baseboard, Other (Heating)
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1895
    Number of units
    3
    Building materials
    Brick

    We can help!

    Listing Contact
    Penni Walker

    Coldwell Banker Professional Real Estate Services (301) 777-3380

    Listing agent Penni Walker (301) 777-3380

    Listing date Feb 4, 2026

    MLS# MDAL2013388

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Cumberland Multi-Family Opportunity

    Located in the heart of Historic Downtown Cumberland, this multi-family property at 124 Bedford St presents a rare commercial opportunity. Constructed in 1895, the stately brick building offers over 3,000 square feet and features three separate apartments, each occupying its own floor. The property is suitable for investors, owner-occupants, business offices, or those seeking portfolio expansion in Western Maryland. Interior features include ornate original woodwork, a grand winding staircase, high baseboards, and an intricately detailed fireplace mantel. The main level comprises a spacious 1-bedroom apartment, a versatile room with a decorative fireplace, and a grand foyer with interior and exterior access to all units. The second floor hosts another 1-bedroom apartment, a flexible office/studio/bonus room, and an additional half bath in the hallway. The third-floor apartment has a generously sized layout with a large eat-in kitchen. A spacious basement provides abundant storage and potential laundry or workshop space. At the rear is a charming courtyard with exterior stairs providing private access to all three levels, and spacious landings for outdoor leisure. The property is situated steps from shops, restaurants, and the energy of Downtown Cumberland. The lot size is 0.04 acres and the property size is 2340 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Allegany
    State
    Maryland
    Longitude
    -78.76246
    Latitude
    39.65375

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    FAQs

    What type of property is this?
    Office units - Historic multi-family property in downtown Cumberland with income potential.
    Where is this office units located?
    The property is located at 124 Bedford St Cumberland, MD.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: - Rare multi-family/commercial opportunity in Historic Downtown Cumberland.; - Three separate apartments offer income potential or owner-occupancy.; - Over 3,000 square feet of space with flexible layouts.
    (571) 302-1337
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    124 Bedford St Cumberland, MD 21502
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    124 Bedford St Cumberland, MD 21502
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    We can help!
    Listing Contact
    Penni Walker
    (571) 302-1337 (301) 777-3380
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