Medical Office
For Sale
Contact for pricing
1733 Howell Road, Hagerstown, MD 21740
Meritus Health has extended its lease commitment at this medical office location.
Property Size20,454 SF
Price / SF$421.68
Days on Market196
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Property Features for 1733 Howell Road
General Information
Standard status
Active
Size
20,454 SF
Total Parking Spaces
131
Property subtype
Office
Zoning
Industrial Mixed-Use
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$534,018
Building Details
Year Built
2004
Tenancy
Single
Listing Agency:
Scheer Partners
Listed By:
Julian Etches · License #MD 591326
Source:
Crexi
Added: Apr 3
Changed: Oct 10
Last Checked: Oct 14 at 11:32PM
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 Scheer Partners
Investment Insights
Based on property information with market context.
This medical office property encompasses 20,454 square feet in a building completed in 2004. The space is occupied by Meritus Health, which has executed an early extension to its existing lease term.
The property is located at 1733 Howell Road in Hagerstown, Maryland, and carries Industrial Mixed-Use zoning. The extended lease supports continued occupancy at a location identified for the tenant’s ongoing healthcare operations.
The property is located at 1733 Howell Road in Hagerstown, Maryland, and carries Industrial Mixed-Use zoning. The extended lease supports continued occupancy at a location identified for the tenant’s ongoing healthcare operations.
Key Highlights
- 20,454‑square‑foot medical office property
- Meritus Health has signed an early extension of its current lease term
- Building constructed in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$245,747
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,914,940
$4.9M
Cap Rate 7%
$3,510,671
$3.5M
Cap Rate 9%
$2,730,522
$2.7M
Market Conditions
NOI Build-Up for 20,454 SF
Gross rent
$402.5K $19.68/SF
− Vacancy
−$74.9K −$3.66/SF
EGI
$327.7K $16.02/SF
− OpEx
−$81.9K −$4.00/SF
NOI
$245.7K $12.01/SF
Area
Washington County, MD
Vacancy
18.60%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,914,940
Cap Rate 7%
$3,510,671
Cap Rate 9%
$2,730,522
Alternative Uses
Best Use
Office B
$3.51M
$3.07M – $4.10M
NOI $245,747 @ 7.0% cap · market cap 2.85%
Second Best
Healthcare Medical
$3.49M
$3.06M – $4.08M
NOI $244,540 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$4.54M
$3.97M – $5.29M
NOI $317,600 @ 7.0% cap · market cap 3.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Balanced
Demand for This Use
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Meritus Health has extended its lease commitment at this medical office location.
Where is this medical office space located?
The property is located at 1733 Howell Road Hagerstown, MD.
What is the asking price?
The asking price for this property is $8,625,000.
What are key features of this property?
This property features: 20,454‑square‑foot medical office property; Meritus Health has signed an early extension of its current lease term; Building constructed in 2004
