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    97 Broadway Frostburg, MD 21532
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    Property profile & analytics

    97 Broadway Frostburg, MD 21532

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    • Commercial real estate
    • 1,792 SF
    • 0.14 lot acres
    Off-Market
    Property ID
    US40-0014293
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 97 Broadway

    Year built
    1920
    Lot size
    0.14 lot acres
    Property size
    1,792 SF
    Property type
    Commercial real estate
    APN
    0126005205

    Description

    This exceptional investment opportunity presents a charming two-unit multifamily property located at 97 S Broadway in Frostburg, Maryland, 21532. Built in 1920, this property boasts a total of 1,792 square feet situated on a 0.14-acre lot. The asking price is $155,000, translating to a price per square foot of $86.50. The property features four bedrooms and three full bathrooms, spread across two units. Each unit benefits from separate electric meters, ensuring efficient utility management. Adding to its appeal is a spacious front porch and five parking spaces. The property is currently rented, providing immediate cash flow. Water is a shared expense, with the owner currently paying approximately $300 per quarter. All appliances are included in the sale. Its prime location offers close proximity to Frostburg State University and the vibrant downtown Frostburg area, ensuring high occupancy rates and strong rental demand. The property is zoned RO. The Allegany County Assessor's Parcel Number (APN) is 0126005205. A 24-hour notice is required for all showings. This is a turnkey investment ready for a new owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Frostburg
    County
    Allegany
    State
    Maryland
    Longitude
    -78.9328514
    Latitude
    39.6543542

    Comparable in this City

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    • $265,000

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    • $599,500

      Frostburg Apartment Complex Investment Opportunity

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      Midland Duplex: Investment Opportunity

      Duplex with income potential in Midland, Maryland.
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    • New
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      Income-Producing Duplex with Rental Potential

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    Similar Nearby for Sale

    • $150,000
      1,812 SF

      Frostburg Duplex with Updates

      Updated duplex in Frostburg with rental history and parking.
      147 W Mechanic St, Frostburg, MD 21532
      View Details
    • $159,000
      1,502 SF

      Updated Duplex with Rental History

      Two-unit duplex in Frostburg, MD, fully rented and updated.
      24 Hill St, Frostburg, MD 21532
      View Details
    • $265,000

      Multifamily Investment Property in Frostburg

      Six-unit property with cash flow and upside potential near university.
      8 Hill St, Frostburg, MD 21532
      View Details
    • $599,500

      Frostburg Apartment Complex Investment Opportunity

      Seven-unit apartment complex near downtown Frostburg and Frostburg State University.
      27 1St St, Frostburg, MD 21532
      View Details
    • $130,000
      2,100 SF

      Midland Duplex: Investment Opportunity

      Duplex with income potential in Midland, Maryland.
      14818 Broadway Ave SW, Midland, MD 21532
      View Details
    • New
      $139,000
      1,600 SF

      Income-Producing Duplex with Rental Potential

      Duplex with two units, steady rental income, convenient location.
      268 E Main St, Frostburg, MD 21532
      View Details
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    Frostburg, MD 21532
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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