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    231 Virginia Ave Cumberland, MD 21502

    Sponsored
    For Sale
    $475,000

    Established business, high NOI, two apartments.

    Property size:
    8,148 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Prime Cumberland, MD location presents a unique investment opportunity: a thriving, established flooring business, Marvin's Flooring Centre, operating successfully since 1987. This woman-owned and minority-certified enterprise boasts an impressive average annual Seller Discretionary Earnings (SDE) of $126,000, generating a 26.53% cap rate on the asking price of $475,000. The 8,148 square foot building includes a well-equipped showroom showcasing carpet, vinyl, hardwood, laminate, and tile, along with all necessary displays and equipment. Ample parking is available with space for seven vehicles. Adding to the investment potential are two 1200 square foot apartments. One apartment, fully furnished, previously rented for $750 per month (water included), while the second, previously rented for $650 per month (water included), offers potential for conversion into two separate units. This mixed-use property, classified as flex, shopping center, and warehouse space, is situated at 231 Virginia Ave, Cumberland, MD 21502, in Allegany County. This exceptional opportunity combines a profitable, established business with significant rental income potential, making it an ideal investment for discerning buyers seeking a strong return in a desirable Western Maryland location. The property's history and strong community presence contribute to its enduring value and potential for continued growth.

    Property Features for 231 Virginia Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    8,148 SF

    HighLights

    • Established, woman‑owned, minority‑certified flooring business operating since 1987.
    • 8,000 SF building with 7 parking spaces in Cumberland, MD.
    • $126,000 average annual Seller Discretionary Earnings (SDE).
    • Includes showroom, inventory, and equipment.
    • Two 1200 SF apartments; one previously rented for $750/month, the other for $650/month (potential for conversion to two units).
    Property Profile Location Intelligence

    Current Use by Public Records

    Marvin's Floor Center ... Tile Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Allegany
    State
    Maryland
    Longitude
    -78.76298579177
    Latitude
    39.63567556586

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    FAQs

    What type of property is this?
    Lifestyle center - Established business, high NOI, two apartments.
    Where is this lifestyle center located?
    The property is located at 231 Virginia Ave Cumberland, MD.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Established, woman-owned, minority-certified flooring business operating since 1987.; 8,000 SF building with 7 parking spaces in Cumberland, MD.; $126,000 average annual Seller Discretionary Earnings (SDE).
    Request Owner's contact information
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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
    231 Virginia Ave Cumberland, MD 21502
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