231 Virginia Ave Cumberland, MD 21502
Established business, high NOI, two apartments.
Property size:
8,148 SFProperty Features for 231 Virginia Ave
General Information
- Property type
- Lifestyle centers
- Square Feet
- 8,148 SF
Listing Agency: Garceau Realty Listing Agent: Donald White
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
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
Location Insight
- Map
- Local Demand
- City
- Cumberland
- County
- Allegany
- State
- Maryland
- Longitude
- -78.76298579177
- Latitude
- 39.63567556586
Nearby Similar for Sale
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).