Add Listing
    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 213 Hagerstown, MD 21740

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $900 /Mo

    Multi-office suite in the heart of Downtown Hagerstown.

    Lot size:
    0.12 Acres

    Property Features for 5 Public Sq

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.12 Acres

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Crystal Lee Pheulpin
    Source: Elliman

    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

    Overview

    Downtown Hagerstown Office Suite

    Located in downtown Hagerstown on the Square, this multi-office suite is situated in the Professional Arts Building. The suite features multiple private offices and a private restroom. The building is secure and elevator-served. The location is surrounded by restaurants, shops, banks, The Maryland Theater, the courthouses, and City Hall, and is just blocks from the new Meritus Park baseball stadium. It is available for immediate occupancy and is suitable for businesses seeking a professional setting with convenience and visibility.
    Location Intelligence

    Current Use by Public Records

    AEON Virtual Office Real Estate Agency J. Gregory Hannigan ... Law Firm BrightLife Enhancement Services Crisis Center Hard Money Lenders ... Loan Service Jennifer Peiffer Century ... Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    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

    • New
      $1.00 SF/Yr

      HAGERSTOWN Office Space Available

      Office suite for rent with flexible configuration and immediate occupancy.
      329 Antietam St E, Hagerstown, MD 21740
      View Details
    • $10,554 /Mo
      43,560 SF

      HAGERSTOWN Office or Medical Space

      Prime office/medical space in downtown Hagerstown with private parking.
      100 W Franklin St W, 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
    • $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
    • $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
    • $21 SF/Yr
      36,155 SF

      HAGERSTOWN, MD - Office Space

      New construction office space suitable for medical or professional use.
      13316 Marsh Pike, Hagerstown, MD 21742
      View Details
    • $1,545 /Mo
      97,139 SF

      HAGERSTOWN Retail and Office Space

      Retail and office space available in excellent location.
      16110 Everly Rd, 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
    • $1,400 /Mo

      Versatile Commercial Space in Hagerstown

      2,900 SF flex space in central Hagerstown location.
      39C N Mulberry St, Hagerstown, MD 21740
      View Details
    • $3,999 /Mo

      Downtown Hagerstown Commercial Flex Space

      6,000 SF commercial warehouse/retail/flex space in downtown Hagerstown.
      132 E Washington St, Hagerstown, MD 21740
      View Details

    FAQs

    What type of property is this?
    Office units - Multi-office suite in the heart of Downtown Hagerstown.
    Where is this office units located?
    The property is located at 5 Public Sq, Unit 213 Hagerstown, MD.
    What is the lease rate?
    The lease rate is $900 /Mo.
    What are key features of this property?
    This property features: - Prime Downtown Hagerstown location on the Square.; - Multiple private offices within the suite.; - Immediate occupancy available.
    (304) 901-7788
    Request Owner's contact information
    5 Public Sq, Unit 213 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 213
    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 213 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
    Real Estate License ID: 616670
    (304) 901-7788 (301) 992-8325
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!