Multifamily Property with
For Sale
$224,995
141 S MULBERRY ST, Hagerstown, MD 21740
Multifamily asset with a vacant unit, off-street parking, and RO zoning.
Property Size2,112 SF
Lot Size0.07 Acres
Price / SF$106.53
Days on Market233
Property Features for 141 S MULBERRY ST
General Information
Standard status
Active
Size
2,112 SF
Lot size
0.07 Acres
Property subtype
Multi-family
Additional Details
Gross Income
$11,436
Listing Agency:
Keller Williams Realty Advantage
(304) 901-4886
Listed By:
Megan E Pantalena · License #WVS250303977
(304) 671-2881
Source:
Hostetterrealty
Added: Mar 13
Changed: Oct 26
Last Checked: Oct 30 at 1:48PM
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 Keller Williams Realty Advantage
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Investment Insights
Based on property information with market context.
This multifamily property contains 2,112 square feet on a 0.07-acre lot and includes a vacant unit within a layout designed to accommodate multiple rental units. Off-street parking is provided in a dedicated lot, adding a practical site feature for occupants.
Built in 1908, the property is located at 141 South Mulberry Street in Hagerstown, Maryland, within city limits. The zoning designation is RO. Washington County Public Schools serves the property.
Built in 1908, the property is located at 141 South Mulberry Street in Hagerstown, Maryland, within city limits. The zoning designation is RO. Washington County Public Schools serves the property.
Key Highlights
- 2,112‑square‑foot multifamily property
- Situated on a 0.07‑acre lot
- Layout accommodates multiple rental units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,877
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,540
$397.5K
Cap Rate 7%
$283,957
$284.0K
Cap Rate 9%
$220,856
$220.9K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$38.8K $18.36/SF
− Vacancy
−$2.6K −$1.25/SF
EGI
$36.1K $17.11/SF
− OpEx
−$16.3K −$7.70/SF
NOI
$19.9K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,540
Cap Rate 7%
$283,957
Cap Rate 9%
$220,856
Alternative Uses
Best Use
Apartment 5plus
$284.0K
$248.5K – $331.3K
NOI $19,877 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$468.5K
$409.9K – $546.6K
NOI $32,794 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,912
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset with a vacant unit, off-street parking, and RO zoning.
Where is this multifamily property located?
The property is located at 141 S MULBERRY ST Hagerstown, MD.
What is the asking price?
The asking price for this property is $224,995.
What are key features of this property?
This property features: 2,112‑square‑foot multifamily property; Situated on a 0.07‑acre lot; Layout accommodates multiple rental units
