Iconic 5-Story Building in the New Downtown Cumberland

Position your investment at the center of a downtown on the rise. Located along Baltimore Street in the heart of Cumberland, the historic Peskins Building offers a rare opportunity to capitalize on the city’s major revitalization efforts, including the recent $16 million transformation of the Downtown Mall into a more accessible, vibrant corridor designed to attract residents, businesses, and visitors alike. This five-story commercial asset spans approximately 19,480 square feet and has served as a cornerstone of local commerce for decades. With two floors previously configured for retail and multiple upper levels ready for repositioning, the property is well-suited for a range of income-producing possibilities including retail, office, residential, hospitality, or a blended mixed-use concept. The building’s infrastructure supports flexible redevelopment, featuring both a front-facing passenger elevator and a rear freight elevator, along with expansive display windows that provide unmatched visibility along the promenade. A covered entry area presents additional upside for experiential uses such as outdoor dining, pop-up retail, or activation space that aligns with the renewed pedestrian traffic in the district. Situated directly across from the newly revitalized Rosenbaum and the Gateway Center, the property benefits from immediate proximity to catalytic projects that are reestablishing downtown as a central hub for commerce, tourism, and community activity. For investors and owner-operators, don’t miss this chance to acquire an iconic landmark with scale, visibility, and multiple value-add pathways in a location that’s quickly building buzz and becoming the place everyone wants to be!