Turnkey Tavern and Restaurant
21400 LEITER STREET Hagerstown, MD 21742
New
21400 LEITER STREET, Hagerstown, MD, 21742
$600,000
For Sale
$600,000
Turnkey tavern and restaurant with bar, kitchen, walk-in cooler, and covered rear deck, plus two income-producing apartments.
Property Size3,790 SF
Price / SF$158.31
Days on Market5
Property Features for 21400 LEITER STREET
General Information
- Standard status
- Active
- Size
- 3,790 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1900
Listing Agency
RE/MAX Results
(443) 398-4492
Listed by
Brenda Myers · License #650485
(443) 398-4492
Source
Xome
Added: Jul 17 Updated: Jul 18 at 2:43 am Checked: Jul 20 at 1:47 am
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This well-maintained tavern and restaurant property is offered as a turnkey operation. The main level includes a spacious bar area, dedicated band and entertainment space, separate lounge area, two restrooms, a kitchen, and a walk-in cooler. There is also a covered rear deck overlooking the outdoor entertainment area.
The sale includes the real estate, business assets located on the property, and a Class D Liquor License, along with furniture, fixtures, equipment, and kitchen and bar equipment (unless specifically excluded by the Seller). The second floor provides two income-producing apartments: a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit. Additional storage is available in the attic and basement.
Ample parking is available in both the front and rear of the property, supporting on-site guest access. The outdoor area is set up for an additional bar and seating, designed to support dining and live music events.
The sale includes the real estate, business assets located on the property, and a Class D Liquor License, along with furniture, fixtures, equipment, and kitchen and bar equipment (unless specifically excluded by the Seller). The second floor provides two income-producing apartments: a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit. Additional storage is available in the attic and basement.
Ample parking is available in both the front and rear of the property, supporting on-site guest access. The outdoor area is set up for an additional bar and seating, designed to support dining and live music events.
Key Highlights
- Turnkey tavern and restaurant sale includes the real estate, business, Class D liquor license, and included furniture, fixtures, and equipment
- Main level features a spacious bar area, dedicated band/entertainment space, separate lounge, two restrooms, kitchen, and walk‑in cooler
- Covered rear deck overlooks the outdoor entertainment area with an outdoor bar, Tiki Bar, and additional seating
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.4k | $16.20 |
| − Vacancy | −$4.6k | −$1.22 |
| EGI | $56.8k | $14.99 |
| − OpEx | −$17.0k | −$4.50 |
| NOI | $39.8k | $10.49 |
3,790 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$567.9K
$496.9K – $662.6K
NOI $39,755 @ 7.0% cap · market cap 6.63%
Second Best
Specialty Retail
$548.8K
$480.2K – $640.3K
NOI $38,416 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$840.7K
$735.6K – $980.8K
NOI $58,849 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Leitersburg Pub
Nightclub
ATM
Atm
Leitersburg Tavern
Nightclub
Similar For Sale Nearby
Similar Off Market Nearby
- Leitersburg Pub — 21400 Leiter St, Hagerstown, MD 21742
- Stop N' Shop Liquors — 21123 Leitersburg Pike, Hagerstown, MD 21742
- Leitersburg Tavern — 21400 Leiter St, Hagerstown, MD 21742
FAQs
What type of property is this?
Bar & Pub - Turnkey tavern and restaurant with bar, kitchen, walk-in cooler, and covered rear deck, plus two income-producing apartments.
Where is this bar & pub located?
The property is located at 21400 LEITER STREET Hagerstown, MD.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Turnkey tavern and restaurant sale includes the real estate, business, Class D liquor license, and included furniture, fixtures, and equipment; Main level features a spacious bar area, dedicated band/entertainment space, separate lounge, two restrooms, kitchen, and walk‑in cooler; Covered rear deck overlooks the outdoor entertainment area with an outdoor bar, Tiki Bar, and additional seating
