Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5 Public Sq, Unit 215 Hagerstown, MD 21740

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $300 /Mo

    Private office suite in a secure, convenient downtown location.

    Lot size:
    0.12 Acres

    Property Features for 5 Public Sq

    General Information

    Standard status
    Active
    Lot size
    0.12 Acres

    We can help!

    Listing Contact
    Crystal Lee Pheulpin
    Source: Exprealty

    Listing Agency: Black Diamond Realty, LLC Listing Agent: Crystal Lee Pheulpin

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

    Learn more

    Property Insight Report

    Overview

    Downtown Hagerstown Professional Office Suite

    Located in downtown Hagerstown on the Square, this private office suite is situated in the Professional Arts Building. The suite is in a secure, elevator-served building with shared access to restrooms and common areas. The location provides access to restaurants, shops, banks, the courthouse, The Maryland Theater, and City Hall. It is also located blocks from the new Meritus Park baseball stadium. The suite can be combined with Suite 217 for additional space. It is available for immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    AEON Virtual Office Executive Suite Rental Agency J. Gregory Hannigan ... Criminal Justice Attorney BrightLife Enhancement Services Mental Health Service Hard Money Lenders ... Mortgage Lender Jennifer Peiffer Century ... Real Estate Agent

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.720844
    Latitude
    39.6418691

    Nearby Similar for Lease

    • $1.00 SF/Yr

      HAGERSTOWN Office Space For Lease

      Office suite with flexible layout, ideal for various businesses.
      329 Antietam St E, Hagerstown, MD 21740
      View Details
    • $3,999 /Mo
      10,019 SF

      Hagerstown Warehouse/Retail/Flex Space

      Spacious commercial property in downtown Hagerstown with office and warehouse space.
      132 E Washington St, Hagerstown, MD 21740
      View Details
    • $19 SF/Yr
      204,296 SF

      HAGERSTOWN Office Space For Lease

      Office spaces available for lease in Hagerstown, MD.
      13511 Label Ln, Hagerstown, MD 21740
      View Details
    • $1,400 /Mo
      9,148 SF

      HAGERSTOWN Commercial Warehouse/Retail/Flex Space

      Versatile commercial space in prime Hagerstown location.
      39C N Mulberry St, Hagerstown, MD 21740
      View Details
    • New
      $12,416 /Mo
      43,560 SF

      Downtown Hagerstown Office Space Available

      Prime office space in downtown Hagerstown with flexible configurations.
      100 W Franklin St W, Hagerstown, MD 21740
      View Details
    • $3,000 /Mo
      6,098 SF

      Remodeled Office Space in Hagerstown

      Remodeled office space with parking near the courthouse and stadium.
      115 Washington St, Hagerstown, MD 21740
      View Details
    • $1,400 /Mo
      3,920 SF

      HAGERSTOWN Commercial Lease Opportunity

      Highly visible commercial space in downtown HAGERSTOWN, MD.
      459 W Washington St, Hagerstown, MD 21740
      View Details
    • $550 /Mo
      1,742 SF

      HAGERSTOWN MD Office Suites

      Office suites for rent in prime downtown location.
      49 Summit Ave, Hagerstown, MD 21740
      View Details
    • $7 SF/Yr
      30,928 SF

      Gated Commercial Space For Lease

      Two-building commercial space with ample parking in Hagerstown, MD.
      34 Charles St, Hagerstown, MD 21740
      View Details
    • $7 SF/Yr
      30,928 SF

      HAGERSTOWN Commercial Space For Lease

      Gated commercial space with ample paved parking in HAGERSTOWN, MD.
      34 Charles St, Hagerstown, MD 21740
      View Details
    • $15 SF/Yr
      20,038 SF

      HAGERSTOWN Office Building For Rent

      Commercial building with 30+ offices available for rent.
      116 Baltimore St, Hagerstown, MD 21740
      View Details
    • $1,025 /Mo
      23,087 SF

      Downtown Hagerstown Commercial Space Available

      Versatile commercial space for rent in downtown Hagerstown, Maryland.
      201 E Washington St, Hagerstown, MD 21740
      View Details

    FAQs

    What type of property is this?
    Office space - Private office suite in a secure, convenient downtown location.
    Where is this office space located?
    The property is located at 5 Public Sq, Unit 215 Hagerstown, MD.
    What are key features of this property?
    This property features: - Prime Downtown Hagerstown location on the Square, offering high visibility and convenience.; - Walkable location to restaurants, shops, banks, courthouse, The Maryland Theater, City Hall, and Meritus Park baseball stadium.; - Secure, elevator-served building providing professional environment.
    (301) 992-8325
    Request Owner's contact information
    5 Public Sq, Unit 215 Hagerstown, MD 21740
    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.
    5 Public Sq, Unit 215
    Hagerstown, MD 21740
    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
    5 Public Sq, Unit 215 Hagerstown, MD 21740
    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

    We can help!
    Listing Contact
    Crystal Lee Pheulpin
    (301) 992-8325
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.