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27 First St

$599,500

27 First St, Frostburg, MD 21532

Active
Last Updated: 03/29/2026

8.5

Cap Rate

38,368

NOI

Details:
Cap Rate:    8.5%
NOI:    $38,368
Building Size:    6,500 sqft
Year Built:    1921
Price Per Sqft:    $92.23
Zoning:    R2
Roof:    Asbestos Shingle, Rubber
Highlights:
  • Days on Market: 14
  • Parking Features: Paved Parking
  • Heating: Baseboard - Electric
Description:

Additional Lot(s), Cleared, Corner, Irregular, Rear Yard, Road Frontage, SideYard(s), Sloping

Attention Investors!! 7 unit apartment complex central to downtown Frostburg. Minutes from the Great Allegany Passage( Gap Trail) , and less than one mile from Frostburg State University!Very well maintained and zoned C3 vibrant mixed use town center commercial district. This means that this property is suitable for the downtown/ town-center area which typically allows a mix of retail, office, residential above the ground floor, and other compatible uses as outlined in the city’s zoning ordinance.Units are long term tenants and one unit is furnished and vacant for owner’s personal use and can easily be rented for additional income. Great investment opportunity on so many levels! Won’t last!!

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