Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Pennsylvania Ave Hagerstown, MD

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Land parcels available in master-planned business park with I-81 access.

    Type:LAND
    Lot size:
    25.51 Acres
    Added:
    Apr 2, 2025
    Days on Market:
    387
    Last Refresh:
    Apr 5 at 11:03 pm

    Property Features for Pennsylvania Ave

    General Information

    Standard status
    Active
    Lot size
    25.51 Acres
    Property subtype
    LAND

    Spaces For Lease

    at Pennsylvania Ave Contact us

    We can help!

    Listing Contact
    Spencer Ward
    Spencer Ward

    Listing agent Spencer Ward License #669779

    Listing office H&R Retail - Washington, DC

    Listing date Apr 2, 2025

    Source Moodyscre

    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 H&R Retail - Washington, DC

    Overview

    Hagerstown Business Park Land Parcels

    This premier master-planned business park offers incentives, heavy utilities, and access to I-81 via two exits. The property is zoned HI, permitting retail, commercial, and light industrial uses. Nearby businesses include Love’s Travel Center and Truck Stop, Amazon, Volvo, and Hagerstown Regional Airport (HGR). Traffic counts on I-81 are 67,641 AAWDT. Parcel sizes range from 1 to 14.96 acres, 2 to 10.18 acres, 3 to 19.614 acres, and 4 to 25.51 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7207
    Latitude
    39.6853

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Hagerstown Office Suite

      Versatile office suite in downtown Hagerstown with elevator access.
      44 N POTOMAC Street, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      Downtown Hagerstown Retail Space

      Retail space in downtown Hagerstown, ideal for many uses.
      11-13 POTOMAC Street N, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      Downtown Hagerstown Second-Floor Office Suite

      494.87 sq ft office suite in downtown Hagerstown.
      44 N POTOMAC Street, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      Downtown Hagerstown Office Suite

      Second-floor office suite in downtown Hagerstown, MD.
      44 N POTOMAC Street, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      Downtown Hagerstown Office Space

      2,500 sq ft office space in downtown Hagerstown.
      44 N POTOMAC Street, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      Downtown Hagerstown Commercial Space Available

      Versatile commercial space for rent in downtown Hagerstown, Maryland.
      201 E WASHINGTON Street, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      HAGERSTOWN Office or Medical Space

      Prime office/medical space in downtown Hagerstown with private parking.
      100 W FRANKLIN Street W, HAGERSTOWN, MD 21740
      View Details
    • $21/mo

      HAGERSTOWN, MD - Office Space

      New construction office space suitable for medical or professional use.
      13316 MARSH Pike, HAGERSTOWN, MD 21742
      View Details
    • $7/mo

      HAGERSTOWN Commercial Space For Lease

      Gated commercial space with ample paved parking in HAGERSTOWN, MD.
      34 CHARLES Street, HAGERSTOWN, MD 21740
      View Details
    • $15/mo

      HAGERSTOWN Office Building For Rent

      Commercial building with 30+ offices available for rent.
      116 BALTIMORE Street, HAGERSTOWN, MD 21740
      View Details
    • $7/mo

      Gated Commercial Space For Lease

      Two-building commercial space with ample parking in Hagerstown, MD.
      34 CHARLES Street, HAGERSTOWN, MD 21740
      View Details
    • Contact for pricing

      Downtown Hagerstown Office Suite

      Second-floor office suite in downtown Hagerstown with flexible layout.
      44 N POTOMAC St SUITE 203, Hagerstown, MD 21740
      View Details

    FAQs

    What type of property is this?
    Land - Land parcels available in master-planned business park with I-81 access.
    Where is this land located?
    The property is located at Pennsylvania Ave Hagerstown, MD.
    What are key features of this property?
    This property features: Incredible access to I‑81 via two exits.; 70 +/- acres zoned HI permitting retail, commercial, and light industrial.; Located in a premier master planned business park offering great incentives and heavy utilities.
    (240) 482-3614 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Spencer Ward
    Spencer Ward
    Real Estate License ID: 669779
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!