Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cumberland Warehouse For Sale Title is generated by Realmo AI

    215 Elder St, Cumberland, MD 21502

    View on Map
    Claim this Listing
    For Sale
    $1,495,000

    23,000 sqft warehouse in Cumberland, Maryland available for sale.

    Property size:
    23,000 SF
    Price / SF:
    $65/SF
    Added:
    Feb 7, 2025
    Days on Market:
    480
    Last Refresh:
    Apr 15 at 4:48 am

    Property Features for 215 Elder St

    General Information

    Standard status
    Active
    Size
    23,000 SF

    Building Details

    Year Built
    1921

    We can help!

    Listing Contact
    Doug Macy

    Listing agent Doug Macy License #16665

    Listing office Long & Foster Real Estate, Inc.

    Listing date Feb 7, 2025

    Source Evrealestate

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Long & Foster Real Estate, Inc.

    HighLights

    • Water/Canal View
    • Corner Lot
    • Natural Gas Heating
    • Electric Water Heater
    • Located near Canal Parkway and Airport
    • Built in 1921

    Overview

    Located at the corner of Canal Parkway and Elder Street in Cumberland, Maryland, this property offers a warehouse facility with a total size of 23,000 square feet. The property is accessible from I-68 via the Industrial Blvd Exit toward the "Airport." Following signs for the airport and Canal Parkway, a left turn onto Elder Street leads to the property, situated at the corner with a gate on the right.
    Location Intelligence

    Current Use by Public Records

    Cumberland Box & Mill ... Industrial Manufacturer

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Kitchen & Bath Showroom

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

    Similar Places Nearby

    • Sonny's Transfer Moving & Storage — 101 Humbird St suite 1, Cumberland, MD 21502
    • Gap Self Storage — 914 Lexington Ave, Cumberland, MD 21502
    • Legacy Moving & Storage — 19 E Clement St, Cumberland, MD 21502

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Allegany
    State
    Maryland
    Longitude
    -78.7627534
    Latitude
    39.6256707

    Nearby Similar for Sale

    • $440,000

      Former Pizza Hut For Sale

      Turn-key restaurant opportunity with cosmetic upgrades and high traffic volume.
      1310 W INDUSTRIAL BLVD, CUMBERLAND, MD 21502
      View Details
    • $425,000

      Equipped Store with Attached Residence

      Store with residence, operating since 2013, equipped and renovated.
      13901 SE OLDTOWN RD SE, CUMBERLAND, MD 21502
      View Details
    • $425,000

      Store with Attached Residence

      Equipped store with renovated attached 4-bedroom residence.
      13901 SE OLDTOWN RD SE, CUMBERLAND, MD 21502
      View Details
    • $249,000
      4,000 SF

      Landmark Commercial Property on Baltimore Pike

      High-visibility commercial property with flexible space and excellent frontage.
      15501 BALTIMORE PIKE NE, CUMBERLAND, MD 21502
      View Details
    • $895,000

      CUMBERLAND Commercial Property Near I-68

      Commercial property near I-68, suitable for fast food or retail.
      231 WILLIAMS ST, CUMBERLAND, MD 21502
      View Details
    • $115,000
      2,052 SF

      Income-Producing Triplex in Cumberland, MD

      Triplex with income potential near downtown Cumberland.
      214 S CENTRAL Avenue, CUMBERLAND, MD 21502
      View Details
    • $197,000

      Downtown Cumberland Commercial Space Available

      20,000+ SF commercial space in downtown Cumberland for sale.
      38 MECHANIC Street N, CUMBERLAND, MD 21502
      View Details
    • $149,900

      Remodeled Commercial Building, Cumberland, MD

      Move-in ready commercial property with flexible layout and recent updates.
      119 S SMALLWOOD Street, CUMBERLAND, MD 21502
      View Details
    • $799,777

      Prime Commercial Property in CUMBERLAND

      Incredible commercial property in a prime location with elite exposure.
      1096 W INDUSTRIAL Boulevard, CUMBERLAND, MD 21502
      View Details
    • $139,999
      3,078 SF

      CUMBERLAND Duplex with Recent Updates

      Well-maintained duplex unit with new flooring and recent updates.
      221 GRAND Avenue, CUMBERLAND, MD 21502
      View Details
    • $139,999
      3,078 SF

      CUMBERLAND Duplex with Renovations

      Well-maintained duplex unit with recent renovations and new flooring.
      223 GRAND Avenue, CUMBERLAND, MD 21502
      View Details
    • $525,000

      Downtown Cumberland Turnkey Commercial Building

      Prime retail space with expansion potential and equipped commercial kitchen.
      35 N CENTRE St, Cumberland, MD 21502
      View Details

    FAQs

    What type of property is this?
    Warehouse - 23,000 sqft warehouse in Cumberland, Maryland available for sale.
    Where is this warehouse located?
    The property is located at 215 Elder St Cumberland, MD.
    What is the asking price?
    The asking price for this property is $1,495,000.
    What are key features of this property?
    This property features: Water/Canal View; Corner Lot; Natural Gas Heating
    (301) 697-0401
    We can help!
    Listing Contact
    Doug Macy
    Real Estate License ID: 16665
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    215 Elder St, Cumberland, MD 21502
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!