Corner Mixed-Use Investment
For Sale
$350,000
160 S POTOMAC St, Hagerstown, MD 21740
Corner mixed-use building with three residential apartments and one commercial storefront.
Property Size2,547 SF
Days on Market29
Property Features for 160 S POTOMAC St
General Information
Standard status
Active
Size
2,547 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,595
Building Details
Building Size
2,547 SF
Year Built
1920
Units
3
Listing Agency:
EXP REALTY, LLC
(240) 418-9074
Listed By:
Yahaira Diaz · License #RSR005222
(240) 418-9074
Source:
Elliman
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 21 at 10:41AM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This corner mixed-use property includes three income-producing residential apartments and one commercial storefront. The building is configured to support both residential and retail use in a single asset.
The property is located in downtown Hagerstown on S. Potomac Street, one block from Meritus Park, home of the Hagerstown Flying Boxcars. Public remarks also indicate the area offers access to shopping, restaurants, entertainment, public transportation, and local attractions.
Designed for mixed-use occupancy, the asset provides multiple income streams through its residential apartment units and ground-level commercial storefront.
The property is located in downtown Hagerstown on S. Potomac Street, one block from Meritus Park, home of the Hagerstown Flying Boxcars. Public remarks also indicate the area offers access to shopping, restaurants, entertainment, public transportation, and local attractions.
Designed for mixed-use occupancy, the asset provides multiple income streams through its residential apartment units and ground-level commercial storefront.
Key Highlights
- Corner mixed‑use building built in 1920 on S. Potomac Street (158 1/2–160)
- Contains 3 income‑producing residential apartments
- Includes 1 commercial storefront
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,889
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,780
$557.8K
Cap Rate 7%
$398,414
$398.4K
Cap Rate 9%
$309,878
$309.9K
Market Conditions
NOI Build-Up for 2,547 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.4K $17.04/SF
− Vacancy
−$3.6K −$1.40/SF
EGI
$39.8K $15.64/SF
− OpEx
−$12.0K −$4.69/SF
NOI
$27.9K $10.95/SF
Area
Washington County, MD
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,780
Cap Rate 7%
$398,414
Cap Rate 9%
$309,878
Alternative Uses
Best Use
Retail
$398.4K
$348.6K – $464.8K
NOI $27,889 @ 7.0% cap · market cap 7.97%
Second Best
Multifamily LT 5
$381.7K
$334.0K – $445.3K
NOI $26,717 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$565.0K
$494.4K – $659.2K
NOI $39,549 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 21740, MD
65,619
Population
27,002
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
86%
High-School Grad
70.9 sq mi
ZIP Area
926
Density / Sq Mi
$59,410
Median Household Income
$42,159
Median Earnings
$1,031
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner mixed-use building with three residential apartments and one commercial storefront.
Where is this mixed-use property located?
The property is located at 160 S POTOMAC St Hagerstown, MD.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Corner mixed‑use building built in 1920 on S. Potomac Street (158 1/2–160); Contains 3 income‑producing residential apartments; Includes 1 commercial storefront
