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    1068 National Hwy La Vale, MD 21502

    Sponsored
    For Sale
    $600,000

    8-Unit Apartment Building, High Traffic Location

    Property size:
    13,072 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 1068 National Highway in La Vale, Maryland, presents a compelling investment opportunity. The 13,072 square foot building, constructed in 1962, sits on a 0.91-acre lot (APN 0129003181) and offers a blend of commercial and residential space. Currently featuring eight units, including three vacant commercial spaces and three residential units, the property boasts significant potential for diverse uses. The existing tenants include businesses focused on outdoor sports, crafts, and dance. The building benefits from high visibility and traffic on National Highway, with ample paved parking for 22 vehicles. Its location is further enhanced by its proximity to a thriving commercial area, including banks, retail stores, medical facilities, and other service businesses. The property is zoned B and offers handicap accessibility. The asking price is $600,000, translating to $45.90 per square foot. This fee simple ownership opportunity is ideal for investors seeking a high-traffic location with diverse income streams and significant upside potential. The property's size and location make it an attractive option for a variety of commercial and residential uses. The listing term begins August 2nd, 2024.

    Property Features for 1068 National Hwy

    General Information

    Property type
    Multifamily properties
    Square Feet
    13,072 SF
    Lot Size
    39,640 SF

    Building Details

    Year Built
    1962
    Units
    8

    HighLights

    • 39,671 SF Lot Size
    • Lease Commencement Date: August 2, 2024
    • 20 Parking Spaces
    Property Profile Location Intelligence

    Current Use by Public Records

    Moen James R ... Family Practice Physician Bassin' Box Sporting Goods Store Steppin' Out School ... Dance School Country Road Primitive ... Craft Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    La Vale
    County
    Allegany
    State
    Maryland
    Longitude
    -78.8273016
    Latitude
    39.6399416

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    FAQs

    What type of property is this?
    Multifamily property - 8-Unit Apartment Building, High Traffic Location
    Where is this multifamily property located?
    The property is located at 1068 National Hwy La Vale, MD.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 39,671 SF Lot Size; Lease Commencement Date: August 2, 2024; 20 Parking Spaces
    Request Owner's contact information
    1068 National Hwy La Vale, MD 21502
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    La Vale, MD 21502
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    Realmo Value Estimation

    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.

    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.

    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
    1068 National Hwy La Vale, MD 21502
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