Hagerstown Commercial Condo For
For Sale
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11236 Robinwood Dr, Hagerstown, MD 21742
1379 sq ft commercial condo in thriving medical corridor.
Property Size1,379 SF
Price / SF$279.19
Days on Market572
Property Features for 11236 Robinwood Dr
General Information
Standard status
Active
Size
1,379 SF
Class
B
Total Parking Spaces
120
Property subtype
Office, Retail
Zoning
BL
Investment Type
Owner/User
Building Details
Year Built
2010
Buildings
1
Stories
2
Units
1
Listing Agency:
RG Realty Inc
(240) 203-6393
Listed By:
Roberto Gonzalez · License #MD 598229
Source:
Crexi
Added: Jan 26, 2025
Changed: Aug 20
Last Checked: Aug 21 at 11:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RG Realty Inc
Investment Insights
Based on property information with market context.
This 1,379 sq. ft. commercial condo in Hagerstown is positioned in a medical corridor, suitable for medical, office, or retail enterprises. Formerly a pharmacy, the space features an open-concept layout, a private office, a fully-equipped kitchen, and a restroom. The property is located near Meritus Medical Center, Robinwood Medical Center, Hagerstown Community College, and the new Meritus School of Osteopathic Medicine. This property is suitable for businesses looking to establish or expand in this area.
Key Highlights
- Prime location in a thriving medical corridor near Meritus Medical Center, Robinwood Medical Center, and Hagerstown Community College.
- Suitable for medical, office, or retail enterprises.
- Expansive 1,379 sq. ft. open‑concept layout.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,568
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$331,360
$331.4K
Cap Rate 7%
$236,686
$236.7K
Cap Rate 9%
$184,089
$184.1K
Market Conditions
NOI Build-Up for 1,379 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.1K $19.68/SF
− Vacancy
−$5.0K −$3.66/SF
EGI
$22.1K $16.02/SF
− OpEx
−$5.5K −$4.00/SF
NOI
$16.6K $12.01/SF
Area
Washington County, MD
Vacancy
18.60%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$331,360
Cap Rate 7%
$236,686
Cap Rate 9%
$184,089
Alternative Uses
Best Use
Office B
$236.7K
$207.1K – $276.1K
NOI $16,568 @ 7.0% cap · market cap 4.30%
Second Best
Healthcare Medical
$235.5K
$206.1K – $274.8K
NOI $16,487 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$305.9K
$267.7K – $356.9K
NOI $21,412 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21742, MD
33,069
Population
14,099
Households
2.3
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
46.5 sq mi
ZIP Area
711
Density / Sq Mi
$80,533
Median Household Income
$45,717
Median Earnings
$1,267
Median Rent
$280,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 1379 sq ft commercial condo in thriving medical corridor.
Where is this medical office space located?
The property is located at 11236 Robinwood Dr Hagerstown, MD.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Prime location in a thriving medical corridor near Meritus Medical Center, Robinwood Medical Center, and Hagerstown Community College.; Suitable for medical, office, or retail enterprises.; Expansive 1,379 sq. ft. open‑concept layout.
