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

    6-8 N Mulberry St Hagerstown, MD 21740

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $225,000

    Commercially zoned mixed-use property with income potential.

    Lot size:
    0.08 Acres

    Property Features for 6-8 N Mulberry St

    General Information

    Standard status
    Pending
    Lot size
    0.08 Acres

    Building Details

    Year built
    1962

    We can help!

    Listing Contact
    Lyndsay Nave
    Source: Exitrealty

    Listing Agency: Sullivan Select, LLC. Listing Agent: Lyndsay Nave

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

    Learn more

    Overview

    Income-Generating Mixed-Use Property

    This commercially zoned, mixed-use property presents an investment opportunity with the potential for over $24,000 in gross annual income. The first floor features office or flex space that is currently leased to long-term tenants, providing a steady revenue stream. The second floor contains a renovated 3-bedroom apartment that is move-in ready, further enhancing the income potential. The property is situated in a high-demand area with excellent visibility, making it suitable for investors seeking stable returns from a well-maintained asset.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store 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
    -77.715902
    Latitude
    39.6402437

    Nearby Similar for Sale

    • $450,000
      0.43 Acres

      HAGERSTOWN, MD Office Building

      Spacious 2-story medical/professional office building for sale.
      645 E 1St St, Hagerstown, MD 21740
      View Details
    • $370,000
      1,440 SF

      HAGERSTOWN Commercial Condo For Sale

      1,440 sq ft commercial condo in C-2 zoning.
      366 Mill St, Hagerstown, MD 21740
      View Details
    • $385,000
      1,379 SF

      HAGERSTOWN Commercial Space For Sale

      1,379 sq ft commercial condo in thriving medical corridor.
      11236 Robinwood Dr, Hagerstown, MD 21742
      View Details
    • $275,000
      7,800 SF

      Versatile Commercial Space in Hagerstown

      Prime location suitable for retail, office, showroom, or entertainment.
      35 E Washington St, Hagerstown, MD 21740
      View Details
    • $395,000
      0.14 Acres

      Remodeled Office Space in Hagerstown

      Remodeled office space with parking near the courthouse and stadium.
      115 Washington St, Hagerstown, MD 21740
      View Details
    • $200,000
      1,000 SF

      Renovated Commercial Building in Hagerstown

      Renovated retail/office space with ample parking near downtown.
      334 S Burhans Blvd, Hagerstown, MD 21740
      View Details
    • $500,000
      3,703 SF

      Renovated Hagerstown Multifamily Investment Property

      Well-maintained 4-unit property with strong rental history and recent renovations.
      39 E North Ave, Hagerstown, MD 21740
      View Details
    • $339,900
      2,715 SF

      Fully Rented Hagerstown Triplex

      Solid brick triplex generating $3,175 monthly income.
      616 W Franklin St, Hagerstown, MD 21740
      View Details
    • $389,900
      5,580 SF

      HAGERSTOWN Multifamily Investment Opportunity

      Four-unit residential property with potential for two additional units.
      601-603 N Mulberry St, Hagerstown, MD 21740
      View Details
    • New
      $445,000
      3,548 SF

      Hagerstown Four-Unit Multifamily Property

      Four-unit building in downtown Hagerstown with off-street parking.
      25 S Locust St, Hagerstown, MD 21740
      View Details
    • $575,000
      4,316 SF

      Turnkey 5-Unit Investment Property

      Fully rented 5-unit building with value-add potential in Hagerstown, MD.
      16 S Mulberry St, Hagerstown, MD 21740
      View Details
    • $359,900
      2,932 SF

      Hagerstown Brick Duplex For Sale

      Fully leased brick duplex with separate yards in Hagerstown, MD.
      601-603 Frederick St, Hagerstown, MD 21740
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercially zoned mixed-use property with income potential.
    Where is this mixed-use property located?
    The property is located at 6-8 N Mulberry St Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: - Income-generating mixed-use property with $24,000+ gross annual income potential.; - First-floor office/flex space is currently leased to long-term tenants, providing a steady revenue stream.; - Renovated, turn-key, move-in ready 3-bedroom apartment on the second floor.
    (301) 991-2337
    Request Owner's contact information
    6-8 N Mulberry St 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.
    6-8 N Mulberry St
    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
    6-8 N Mulberry St 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
    Lyndsay Nave
    Real Estate License ID: RSR004309
    (301) 991-2337 (301) 745-5500
    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!