Mixed-Use Property with
For Sale
$350,000
160-158 1/2- S POTOMAC Street, Hagerstown, MD 21740
Multi-Family, HAGERSTOWN, MD
Property Size2,547 SF
Lot Size0.05 Acres
Price / SF$137.42
Days on Market46
Property Features for 160-158 1/2- S POTOMAC Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Elementary school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Middle school district
WASHINGTON COUNTY PUBLIC SCHOOLS
High school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,547 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
1595
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1920
Number of units
3
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Yahaira Diaz · License #5010456
(240) 418-9074
Added: Jul 24
Changed: Sep 5
Last Checked: Sep 7 at 5:06PM
MLS# MDWA2038826
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property contains 2,547 square feet and is configured with three income-producing units: two residential apartments and one commercial storefront. Built in 1920, the building is served by hot-water heating and window unit cooling.
The property is located at 160-158 1/2- S Potomac Street in downtown Hagerstown, Maryland, one block from Meritus Park, home of the Hagerstown Flying Boxcars. Restaurants, shopping, entertainment, public transportation, and local attractions are also nearby. The 0.0459-acre parcel combines residential and commercial components within a compact downtown setting.
The property is located at 160-158 1/2- S Potomac Street in downtown Hagerstown, Maryland, one block from Meritus Park, home of the Hagerstown Flying Boxcars. Restaurants, shopping, entertainment, public transportation, and local attractions are also nearby. The 0.0459-acre parcel combines residential and commercial components within a compact downtown setting.
Key Highlights
- Three income‑producing units: two residential apartments and one commercial storefront
- 2,547‑square‑foot mixed‑use building on a 0.0459‑acre parcel
- Brick construction dating to 1920
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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 - Three-unit downtown asset combining residential apartments with a commercial storefront in a brick building.
Where is this mixed-use property located?
The property is located at 160-158 1/2- S POTOMAC Street 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: Three income‑producing units: two residential apartments and one commercial storefront; 2,547‑square‑foot mixed‑use building on a 0.0459‑acre parcel; Brick construction dating to 1920
