Four-Story Apartment Building with
For Sale
$1,400,000
154 154-158 Potomac, Hagerstown, MD 21740
Fully leased mixed-use property with individually metered units, a detached garage, and CC-MU zoning in downtown Hagerstown.
Property Size12,736 SF
Lot Size0.22 Acres
Price / SF$109.92
Days on Market79
Property Features for 154 154-158 Potomac
General Information
Standard status
Active
Size
12,736 SF
Total Parking Spaces
3
Lot size
0.22 Acres
Zoning
CC-MU
Occupancy
100%
Units
Unit Mix
5 x 3BR/1BA, 3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
9
Building Details
Year Built
1900
Stories
4
Construction
brick
Listing Agency:
RG Realty, Inc.
Listed By:
Roberto G. Gonzalez · License #598229
(240) 203-6393
Source:
Premierehomegroup
Added: Jul 31
Changed: Oct 14
Last Checked: Oct 7 at 4:45PM
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 RG Realty, Inc.
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Investment Insights
Based on property information with market context.
This four-story, all-brick apartment building contains 12,736 square feet of gross building area on a 0.22-acre parcel. The property includes 10 units: nine residential apartments and one commercial unit. The residential mix consists of five three-bedroom, one-bath units, three one-bedroom, one-bath units, and one two-bedroom, one-bath unit. Each unit has a separate electric meter. A freestanding three-bay garage is also located on the site.
Built in 1900, the property is fully leased and situated at 154-158 Potomac in Hagerstown’s Arts and Entertainment District. It is zoned CC-MU, or City Center – Mixed Use, and lies within Hagerstown’s revitalization zone. The location is described as being a short distance from the University of Maryland Hagerstown campus, Washington County Library, and a new multi-use sports and events facility.
Built in 1900, the property is fully leased and situated at 154-158 Potomac in Hagerstown’s Arts and Entertainment District. It is zoned CC-MU, or City Center – Mixed Use, and lies within Hagerstown’s revitalization zone. The location is described as being a short distance from the University of Maryland Hagerstown campus, Washington County Library, and a new multi-use sports and events facility.
Key Highlights
- 10‑unit building with 9 residential units and 1 commercial unit
- 12,736 square feet of gross building area on a 0.22‑acre parcel
- Five 3‑bedroom units, three 1‑bedroom units, and one 2‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,086
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,521,720
$2.5M
Cap Rate 7%
$1,801,229
$1.8M
Cap Rate 9%
$1,400,956
$1.4M
Market Conditions
NOI Build-Up for 12,736 SF
Gross rent
$229.2K $18.00/SF
− Vacancy
−$27.5K −$2.16/SF
EGI
$201.7K $15.84/SF
− OpEx
−$75.7K −$5.94/SF
NOI
$126.1K $9.90/SF
Area
Washington County, MD
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,521,720
Cap Rate 7%
$1,801,229
Cap Rate 9%
$1,400,956
Alternative Uses
Best Use
Mixed Use
$1.80M
$1.58M – $2.10M
NOI $126,086 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,863 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,758 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,029
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?
Apartment building - Fully leased mixed-use property with individually metered units, a detached garage, and CC-MU zoning in downtown Hagerstown.
Where is this apartment building located?
The property is located at 154 154-158 Potomac Hagerstown, MD.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 10‑unit building with 9 residential units and 1 commercial unit; 12,736 square feet of gross building area on a 0.22‑acre parcel; Five 3‑bedroom units, three 1‑bedroom units, and one 2‑bedroom unit
