Drive-Through Ice Cream
For Sale
$195,000
735 N CENTRE STREET, Cumberland, MD 21502
Operating ice cream shop with an established drive-through component along US Rt 40.
Property Size595 SF
Price / SF$327.73
Days on Market9
Property Features for 735 N CENTRE STREET
General Information
Standard status
Active
Size
595 SF
Property subtype
Commercial
Site & Location
Drive-Thru
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2001
Listing Agency:
Long & Foster Real Estate, Inc.
(301) 697-0401
Listed By:
Doug Macy · License #16665
(301) 697-0401
Source:
Cummingsrealtors
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 25 at 4:21AM
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.
Investment Insights
Based on property information with market context.
Built in 2001, the property operates as a Hershey Ice Cream Shop with an established drive-through component. The restaurant is positioned along US Rt 40 at the northwestern end of Cumberland, Maryland, near the Narrows.
Key Highlights
- Operating as a Hershey Ice Cream Shop
- Established drive‑through component
- Located along US Rt 40
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
$13,531
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
6.94%
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%
$270,620
$270.6K
Cap Rate 7%
$193,300
$193.3K
Cap Rate 9%
$150,344
$150.3K
Market Conditions
NOI Build-Up for 595 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
$20.3K $34.20/SF
− Vacancy
−$2.3K −$3.88/SF
EGI
$18.0K $30.32/SF
− OpEx
−$4.5K −$7.58/SF
NOI
$13.5K $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%
$270,620
Cap Rate 7%
$193,300
Cap Rate 9%
$150,344
Alternative Uses
Best Use
Specialty Retail
$193.3K
$169.1K – $225.5K
NOI $13,531 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$220.7K
$193.1K – $257.4K
NOI $15,446 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
179k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 27%
Electronics 3%
Groceries 3%
Chick-fil-A
Dining
39,205 visits/mo
0.3 miles
McDonald's
Dining
20,050 visits/mo
0.1 miles
Wendy's
Dining
19,218 visits/mo
0.3 miles
Roy Rogers
Dining
16,552 visits/mo
0.2 miles
Taco Bell
Dining
13,721 visits/mo
0.2 miles
Demographics for 21502, MD
41,153
Population
19,562
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
92.1 sq mi
ZIP Area
447
Density / Sq Mi
$58,721
Median Household Income
$39,507
Median Earnings
$771
Median Rent
$151,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Operating ice cream shop with an established drive-through component along US Rt 40.
Where is this drive through restaurant located?
The property is located at 735 N CENTRE STREET Cumberland, MD.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Operating as a Hershey Ice Cream Shop; Established drive‑through component; Located along US Rt 40
