Listing Agency: Coldwell Banker Premier n***@yahoo.com Show Phone

Listed By: Nadine Beechie · License #660736 Show Phone

Source: Exprealty

Added: Jul 30 Changed: Aug 8 Last Checked: Aug 8 at 2:02AM

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Investment Insights

Based on property information with market context.

This mixed-use property spans 2.415 acres and combines 23 leased storage units with a 1,758 SF commercial building. The building is currently used as a church and retains a commercial kitchen, commercial-grade doors, shatterproof windows, tables, chairs, select supplies, and a POS system. Electrical service totals 400 amps, configured through two 200-amp panels, and the property includes ample parking.

An unused sewer tap serves the upper lot. The address is near Dan's Mountain State Park, a community pool, fishing pond, camping areas, and pavilions, placing the property within a recreation-oriented setting near Lonaconing, Barton, Midland, and Frostburg. The combination of storage units, existing building improvements, utility infrastructure, and acreage supports a range of mixed-use configurations.

Key Highlights

• 2.415‑acre mixed‑use property with a 1,758 SF commercial building
• 23 fully leased storage units
• 400‑amp electrical service split between two 200‑amp panels

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$39,979

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.20%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$799,580 $799.6K

Cap Rate 7%

$571,129 $571.1K

Cap Rate 9%

$444,211 $444.2K

Market Conditions

NOI Build-Up for 1,758 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$60.1K $34.20/SF

− Vacancy

−$6.8K −$3.88/SF

EGI

$53.3K $30.32/SF

− OpEx

−$13.3K −$7.58/SF

NOI

$40.0K $22.74/SF

Area

Allegany County, MD

Vacancy

11.34%

Lease Rate

$34.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$799,580

Cap Rate 7%

$571,129

Cap Rate 9%

$444,211

Alternative Uses

Best Use

Specialty Retail

$571.1K

$499.7K – $666.3K (±1% cap)

NOI $39,979 @ 7.0% cap · market cap 7.20%

Second Best

Warehouse

$339.7K

$297.2K – $396.3K (±1% cap)

NOI $23,777 @ 7.0% cap · market cap 4.28%

Theoretical Best

Office A

$652.0K

$570.5K – $760.6K (±1% cap)

NOI $45,637 @ 7.0% cap · market cap 8.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Self storage facilities

Location Intelligence

Trade Area within ½ mile

147

Businesses Nearby

Explore this area Business Placement

Demographics for 21539, MD

2,536

Population

1,074

Households

2.4

Avg Household Size

44

Median Age

18%

College-Educated

90%

High-School Grad

37.1 sq mi

ZIP Area

68

Density / Sq Mi

$51,667

Median Household Income

$36,065

Median Earnings

$822

Median Rent

$108,700

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes leased storage units and a commercial building with kitchen infrastructure.

Where is this mixed-use property located?

The property is located at 20829 Water Station Run Rd Sw Lonaconing, MD.

What is the asking price?

The asking price for this property is $555,000.

What are key features of this property?

This property features: 2.415‑acre mixed‑use property with a 1,758 SF commercial building; 23 fully leased storage units; 400‑amp electrical service split between two 200‑amp panels