67-69 Baltimore Street

    CUMBERLAND, MD 21502
    • $550,000
    • STATUS: Active
    • ON SITE: 152 days
    • ID#: MDAL131662
    UPDATED: 60 min ago
    $550,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,418
      SQFT
    • $41
      $/SQFT
    Type:
    Business Opportunity
    Built:
    1900
    County:

    School Ratings & Info

    Description

    *** REAL ESTATE OFFERED AT $550,000 * RESTAURANT BUSINESS AT $150,000 *** Upon a prime corner lot at the heart of the region's premier dining & professional services precinct sits 69 Baltimore St, within, The Manhattan Social serves up Cumberland's history with an epicurean twist. This Modern American Restaurant & Bar occupies the first floor of 69 Baltimore St for 5400 SF +/-. Since it's 2018 opening, The Manhattan has followed a positive trajectory fiscally and reputationally, and for a skilled operator ample opportunities exist to realize substantially increased profit. In addition, 69 Baltimore St contains three furnished apartments (owner user at present, no kitchens in place), amarket rent comparables per unit range $825-$1000 / month. Inclusive of this opportunity, Studio Saint, acclaimed Washington D.C. hospitality architects have prepared floor plans for a Phase 2 redevelopment of the property into a Boutique Hotel. Through the implementation of these plans, the property would include 10 hotel rooms and 3 apartment. The economics of redevelopment can be positively influenced by leveraging eligible economic development incentives, which include, Federal Opportunity Zone and MD-PACE. This opportunity is being offered for sale at $700,000 inclusive of 69 Baltimore St (Real Estate) & The Manhattan Social (Restaurant & Bar). 69 Baltimore St (Real Estate) is being offered individually for sale at $550,000 inclusive of all FF&E. The Manhattan Social (Restaurant & Bar) is being offered individually for sale at $150,000 with a lease option of the ground floor available. Ownership is negotiable, for a package sale of the Real Estate and Restaurant. Ownership will consider partnership proposals. Ownership will consider short-term leaseback of the ground floor.69 Baltimore St is an icon of historic Queen City, known for its namesake initial occupant, The Manhattan, a clothing store. In preparation for its current use as The Manhattan Social, the property underwent extensive renovation and retrofit in 2018 for a total investment of approximately $500,000. The interior design of the first floor was prepared and implemented by Studio Saint, acclaimed Washington D.C. hospitality architects. A design true to the history of the building, the aesthetic is a thoughtful blend of Industrial Chic & Modern American. At 13,418 SF Above Grade over 3 floors, the property features a forced air HVAC system, heating is supplemented by baseboard.

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    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-10-15T23:52:15.977.
    www.gailnymanhomes.com/homes/94884818

    67-69 Baltimore Street CUMBERLAND, MD 21502

    • Price: $550,000
    • Status: Active
    • Updated: 60 min ago
    • ID#: MDAL131662
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    13,418
    SQFT
    $41
    $/SQFT
    1900
    Built
    Neighborhood:
    N Cumberland - Allegany County (Mdal1)
    County:
    Allegany
    Area:
    N Cumberland - Allegany County (Mdal1)
    School District:
    Allegany County Public Schools
    Property Description
    *** REAL ESTATE OFFERED AT $550,000 * RESTAURANT BUSINESS AT $150,000 *** Upon a prime corner lot at the heart of the region's premier dining & professional services precinct sits 69 Baltimore St, within, The Manhattan Social serves up Cumberland's history with an epicurean twist. This Modern American Restaurant & Bar occupies the first floor of 69 Baltimore St for 5400 SF +/-. Since it's 2018 opening, The Manhattan has followed a positive trajectory fiscally and reputationally, and for a skilled operator ample opportunities exist to realize substantially increased profit. In addition, 69 Baltimore St contains three furnished apartments (owner user at present, no kitchens in place), amarket rent comparables per unit range $825-$1000 / month. Inclusive of this opportunity, Studio Saint, acclaimed Washington D.C. hospitality architects have prepared floor plans for a Phase 2 redevelopment of the property into a Boutique Hotel. Through the implementation of these plans, the property would include 10 hotel rooms and 3 apartment. The economics of redevelopment can be positively influenced by leveraging eligible economic development incentives, which include, Federal Opportunity Zone and MD-PACE. This opportunity is being offered for sale at $700,000 inclusive of 69 Baltimore St (Real Estate) & The Manhattan Social (Restaurant & Bar). 69 Baltimore St (Real Estate) is being offered individually for sale at $550,000 inclusive of all FF&E. The Manhattan Social (Restaurant & Bar) is being offered individually for sale at $150,000 with a lease option of the ground floor available. Ownership is negotiable, for a package sale of the Real Estate and Restaurant. Ownership will consider partnership proposals. Ownership will consider short-term leaseback of the ground floor.69 Baltimore St is an icon of historic Queen City, known for its namesake initial occupant, The Manhattan, a clothing store. In preparation for its current use as The Manhattan Social, the property underwent extensive renovation and retrofit in 2018 for a total investment of approximately $500,000. The interior design of the first floor was prepared and implemented by Studio Saint, acclaimed Washington D.C. hospitality architects. A design true to the history of the building, the aesthetic is a thoughtful blend of Industrial Chic & Modern American. At 13,418 SF Above Grade over 3 floors, the property features a forced air HVAC system, heating is supplemented by baseboard.
    Exterior Features

    Construction Materials Masonry Garage YN No Location Type Downtown Other Structures Above GradeBelow Grade Parking Types None Property Condition Turn KeyRenov/Remod Riparian Rights YN No Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 13418.00 Building Features KitchenFirewall(S)Fire-Resistance RatingOven/Range(S)Public RestroomsPrivate RestroomsRefrigerator(S) Cooling Central A/CCeiling Fan(S) Heating Baseboard - Hot Water Heating YN Yes Leasable Area 5400

    Property Features

    Accessibility Features Level Entry - Main Assessment Year 2019 Association YN No Business Name The Manhattan Social Business Type Restaurant/Bar Central Air YN Yes Cooling Fuel Electric Cross Street Liberty St Current Use RestaurantMulti Residential Heating Fuel Natural Gas Historic YN Yes Hot Water Other Lease Considered YN Yes Navigable Water YN N New Construction YN No Original MLSNumber 301720125996 Ownership Interest Other Possession Negotiable Property Sub Type Mixed Use Purchase Optional YN Yes Sale Type Standard Sewer Public Sewer Tax Annual Amount 4838.0 Tax Assessment Amount 240700.0 Utilities Natural Gas AvailableElectric AvailableCable TvDsl AvailableSewer AvailableWater AvailablePhone Vacation Rental YN No Water Source Community Year Built Effective 2018 Zoning B-Cbd

    Listing courtesy of Taylor Properties.
    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-10-15T23:52:15.977.
     
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