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231 Virginia Ave Cumberland, MD 21502

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For Sale
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Established business, high NOI, two apartments.

Property size:
8,148 SF

Property Features for 231 Virginia Ave

General Information

Property type
Lifestyle centers
Square Feet
8,148 SF

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Listing Contact
Donald White

Listing Agency: Garceau Realty Listing Agent: Donald White

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

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 Profile Insight Report Location Intelligence

Current Use by Public Records

Marvin's Floor Center ... Hardware & Home Improvement

Suggested Use

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

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

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).
More about this property
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