301 S POTOMAC STREET, Hagerstown, MD 21740

Building Details

Year Built 1893 More

Buildings 1 More

Tenancy Multi More

Listing Agency: Samson Properties d***@samsonproperties.net Show Phone

Listed By: Nik Biberaj · License MD #0225226782 Show Phone

Source: Cummingsrealtors

Added: Nov 10 Changed: Nov 12 Last Checked: Nov 12 at 2:23PM

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Investment Insights

Based on property information with market context.

At 301 S Potomac Street, this 5,498-square-foot mixed-use building contains six income-producing units: four apartments and two commercial spaces at street level. Built in 1893, the property also has off-street parking.

The building is in downtown Hagerstown, steps from the Arts & Entertainment District and near restaurants, galleries, and the Maryland Theatre.

Key Highlights

• Six units: four residential apartments and two street‑level commercial spaces
• 5,498 square feet in downtown Hagerstown
• Off‑street parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,430

Cap Rate

9.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,088,600 $1.1M

Cap Rate 7%

$777,571 $777.6K

Cap Rate 9%

$604,778 $604.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,498 SF

Gross rent

$99.0K $18.00/SF

− Vacancy

−$11.9K −$2.16/SF

EGI

$87.1K $15.84/SF

− OpEx

−$32.7K −$5.94/SF

NOI

$54.4K $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%

$1,088,600

Cap Rate 7%

$777,571

Cap Rate 9%

$604,778

Alternative Uses

Best Use

Mixed Use

$777.6K

$680.4K – $907.2K (±1% cap)

NOI $54,430 @ 7.0% cap · market cap 9.07%

Second Best

Apartment 5plus

$739.2K

$646.8K – $862.4K (±1% cap)

NOI $51,744 @ 7.0% cap · market cap 8.62%

Theoretical Best

Office A

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,370 @ 7.0% cap · market cap 14.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Dental Office Real Estate Agency (Bike/Boat/Book/etc) Store Skin Care Clinic Pet Grooming Service Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,826

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

Properties on Market for Mixed-use properties in Hagerstown

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines residential apartments, street-level commercial space, and off-street parking in downtown Hagerstown.

Where is this mixed-use property located?

The property is located at 301 S POTOMAC STREET Hagerstown, MD.

What is the asking price?

The asking price for this property is $599,999.

What are key features of this property?

This property features: Six units: four residential apartments and two street‑level commercial spaces; 5,498 square feet in downtown Hagerstown; Off‑street parking