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    Historic Residence with Commercial Addition Title is generated by Realmo AI

    58 FROST AVE, Frostburg, MD 21532

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    New
    For Sale
    $875,000

    Commercial/Industrial - FROSTBURG, MD

    Property size:
    5,700 SF
    Lot size:
    2.10 Acres
    Price / SF:
    $153/SF
    Added:
    May 23, 2026
    Days on Market:
    2
    Last Refresh:
    May 24 at 4:06 pm

    Property Features for 58 FROST AVE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Driveway, Garage, Offsite, Parking Lot
    Standard status
    Active
    Size
    5,700 SF
    Lot size
    2.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7483

    Utilities

    Heating system
    Baseboard, Hot Water (Heating)
    Cooling system
    Ceiling Fan(s), Wall Unit(s)

    Building Details

    Year built
    1848
    Flooring type
    Carpet, Concrete, Hardwood, Tile, Tile - Ceramic, Wood
    Building materials
    Block, Brick, Concrete, Other
    Roof type
    Flat, Metal, Rubber, Shingle, Slate
    Architectural style
    Other

    We can help!

    Listing Contact
    Doug Macy

    Listing agent Doug Macy

    Listing office Cumberland 138 N Mechanic Street, MD

    Listing date May 23, 2026

    MLS# MDAL2014784 Listing URL

    Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large historic residence built in 1848, offering 5,700 sq ft +/-.
    • Features a massive 8,000 sq ft +/- modern commercial‑grade addition (steel and masonry).
    • Potential for up to 6 B&B rooms (zoning approval required).
    • Opportunity for home occupation, additional garages, or conversion for additional units (with BZA approval).
    • Plans to divide another building lot off of the rear corner.
    • Located in a desirable area surrounded by historic Victorian homes on quiet, tree‑lined streets.

    Overview

    This property features a large historic residence built in 1848, totaling approximately 5,700 square feet. The residence, constructed by the Founding Father of Frostburg, has the potential for up to 6 bed and breakfast rooms, subject to zoning approval. A substantial 8,000 square foot modern commercial-grade addition complements the original structure, built with structural steel and masonry. The combined property could serve as a single-family residence with a large basement garage and a massive main-level addition. The addition is suitable for home occupation, additional garages, or conversion into additional units, subject to BZA approval. Recent work has reinforced the exterior details. The 2.1-acre site is level to mildly sloped, with plans to divide another building lot off the rear corner. The property is situated among Frostburg's nicest historic Victorian-era homes on quiet, tree-lined streets. The property is located in Frostburg, Maryland.

    Financial Insights

    Value Estimation Calculated for Mixed Use

    Conservative
    $726.8K
    NOI $65,408 @ 9.00% cap · cautious / downside scenario
    Moderate
    $934.4K
    NOI $65,408 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.31M
    NOI $65,408 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Mixed Use

    Component $ $/SF
    Gross rent $123.1k $21.60
    − Vacancy −$18.5k −$3.24
    EGI $104.7k $18.36
    − OpEx −$39.2k −$6.89
    NOI $65.4k $11.48
    5,700 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 37.50%

    Alternative Use Scenarios

    Best Use
    Mixed Use
    $934.4K
    $817.6K – $1.09M (±1% cap)
    NOI $65,408 @ 7.0% cap · market cap 7.48%
    Second Best
    Hotel Hospitality
    $870.3K
    $761.5K – $1.02M (±1% cap)
    NOI $60,919 @ 7.0% cap · market cap 6.96%
    Theoretical Best
    Office A
    $2.11M
    $1.85M – $2.47M (±1% cap)
    NOI $147,970 @ 7.0% cap · market cap 16.91%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hafer John J State Government Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Frostburg
    County
    Allegany
    State
    Maryland
    Longitude
    -78.9336
    Latitude
    39.65713

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    FAQs

    What type of property is this?
    Mixed-use property - Historic Frostburg residence with modern commercial-grade addition and development potential.
    Where is this mixed-use property located?
    The property is located at 58 FROST AVE Frostburg, MD.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Large historic residence built in 1848, offering 5,700 sq ft +/-.; Features a massive 8,000 sq ft +/- modern commercial‑grade addition (steel and masonry).; Potential for up to 6 B&B rooms (zoning approval required).
    (888) 536-0216
    We can help!
    Listing Contact
    Doug Macy
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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
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