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702 2ND ST Pocomoke City, MD 21851
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Key Details
Sold Price $45,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 2,412 sqft
Price per Sqft $18
Subdivision None Available
MLS Listing ID 1000795988
Sold Date 03/05/18
HOA Y/N N
Originating Board CAR
Year Built 1905
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 111x42
Property Description
Well established rental property with proven track record. Property is LEAD CERTIFIED and has tenant lease in place. Average vacancy rate of 5.7% with annual gross income of $10,800 with room for rental increase to $925/mo. New heat pumps installed in 2012. Best news is this property is being offered at a 11.7% CAP rate (after all expenses including debt load) - well beyond the average 8-10% CAP rates you see offered with most rental packages. Serious seller has total of 21 properties for sale. Contact listing agent for more information.
Location
State MD
County Worcester
Area Worcester West Of Rt-113
Interior
Heating Heat Pump(s)
Cooling Central A/C
Flooring Other
Heat Source Electric
Exterior
Waterfront N
Water Access N
Roof Type Other
Road Frontage Public
Garage N
Building
Lot Description Cleared
Foundation Other
New Construction N
Schools
School District Worcester County Public Schools
Others
Tax ID 015966
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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Bought with William Barr • Condominium Realty LTD
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