Frostburg Apartment Complex Investment Opportunity

27 FIRST St, Frostburg, MD 21532

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For Sale

$599,500

Seven-unit apartment complex near downtown Frostburg and Frostburg State University.

Type:Commercial

HighLights

Seven‑unit apartment complex in a central downtown location
Zoned C3, allowing for mixed‑use development (retail, office, residential)
Close proximity to Frostburg State University (less than one mile)
Convenient access to the Great Allegany Passage (GAP) Trail
Well‑maintained property with long‑term tenants
One furnished, vacant unit available for immediate rental income

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Listing Contact

Cynthia R Sullivan

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For Sale

$599,500

Seven-unit apartment complex near downtown Frostburg and Frostburg State University.

Type:Commercial

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 8:15 pm

Property Features for 27 FIRST St

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1921

We can help!

Listing Contact

Cynthia R Sullivan

Listing agent Cynthia R Sullivan

Listing office Sullivan Select, LLC.

Listing date Apr 24, 2026

Source Elliman

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 Sullivan Select, LLC.

HighLights

Seven‑unit apartment complex in a central downtown location
Zoned C3, allowing for mixed‑use development (retail, office, residential)
Close proximity to Frostburg State University (less than one mile)
Convenient access to the Great Allegany Passage (GAP) Trail
Well‑maintained property with long‑term tenants
One furnished, vacant unit available for immediate rental income

Overview

This seven-unit apartment complex is centrally located in downtown Frostburg, Maryland, and is situated less than one mile from Frostburg State University and minutes from the Great Allegany Passage. The property is zoned C3, a vibrant mixed-use town center commercial district. This zoning is suitable for the downtown/town-center area, typically allowing a mix of retail, office, residential above the ground floor, and other compatible uses as outlined in the city’s zoning ordinance. The units are occupied by long-term tenants. One furnished unit is currently vacant, previously used for the owner's personal use, and is available for rental income. The location has a walk score of 83, indicating it is very walkable, and a bike score of 39, indicating it is somewhat bikeable.

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Local Demand

City: Frostburg
County: Allegany
State: Maryland
Longitude: -78.9281986
Latitude: 39.6584383

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For sale
Apartment buildings
MD
Frostburg
21532
27 FIRST St

What type of property is this?

Apartment building - Seven-unit apartment complex near downtown Frostburg and Frostburg State University.

Where is this apartment building located?

The property is located at 27 FIRST St Frostburg, MD.

What is the asking price?

The asking price for this property is $599,500.

What are key features of this property?

This property features: Seven‑unit apartment complex in a central downtown location; Zoned C3, allowing for mixed‑use development (retail, office, residential); Close proximity to Frostburg State University (less than one mile)