20829 Water Station Run Rd SW, Lonaconing, MD 21539

Building Details

Year Built 2016 More

Listing Agency: Coldwell Banker Premier

Listed By: Nadine Beechie · License #660736 Show Phone

Source: Viewmarylandhomesforsale

Added: Jun 30 Changed: Nov 1 Last Checked: Nov 6 at 9:19AM

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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 Coldwell Banker Premier

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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 / Yr

$48,916

Cap Rate

8.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$978,320 $978.3K

Cap Rate 7%

$698,800 $698.8K

Cap Rate 9%

$543,511 $543.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,392 SF

Gross rent

$77.6K $14.40/SF

− Vacancy

−$7.8K −$1.44/SF

EGI

$69.9K $12.96/SF

− OpEx

−$21.0K −$3.89/SF

NOI

$48.9K $9.07/SF

Area

Allegany County, MD

Vacancy

10.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$978,320

Cap Rate 7%

$698,800

Cap Rate 9%

$543,511

Alternative Uses

Best Use

Specialty Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,621 @ 7.0% cap · market cap 22.09%

Second Best

Warehouse

$1.04M

$911.6K – $1.22M (±1% cap)

NOI $72,928 @ 7.0% cap · market cap 13.14%

Theoretical Best

Office A

$2.00M

$1.75M – $2.33M (±1% cap)

NOI $139,974 @ 7.0% cap · market cap 25.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Restaurant Auto Parts Store Hair Salon Big Box & Wholesale Store Furniture & Home Goods Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3

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

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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