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    500-508 Salem Ave Hagerstown, MD 21740

    For Sale
    $675,000

    Established bar with income-producing residential and retail units.

    Lot size:
    0.26 Acres

    Property Features for 500-508 Salem Ave

    General Information

    Lot size
    0.26 Acres

    Building Details

    Year built
    1900

    Source: RG Realty, Inc. Agent Roberto G. Gonzalez

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Investment with Liquor License

    Harmans Tavern is a mixed-use building totaling nearly 10,000 square feet. It includes eight units, a retail space, and spacious apartments. The property features a well-established bar with a Class D Liquor License. All units are occupied by long-term tenants. The owner has never increased rents, which are significantly below market, creating immediate upside in cash flow. The units are well maintained, and thoughtful updates could support meaningful appreciation. This property presents a true value-add opportunity, pairing a well-established business with income-producing residential and retail units. It is suitable for expanding a portfolio or seeking stable income with room to grow.
    Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7257637
    Latitude
    39.6491253

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    FAQs

    What type of property is this?
    Mixed-use property - Established bar with income-producing residential and retail units.
    Where is this mixed-use property located?
    The property is located at 500-508 Salem Ave Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: - Turnkey investment opportunity including real estate and business.; - Includes a Class D Liquor License.; - Mixed-use building with bar, retail space, and apartments.
    (301) 991-0207
    Request Owner's contact information
    500-508 Salem Ave Hagerstown, MD 21740
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    Realmo Value Estimation

    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.

    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.

    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
    500-508 Salem Ave Hagerstown, MD 21740
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