Mixed-Use Corner Building with
382 South Cleveland Avenue Hagerstown, MD 21740
New
382 South Cleveland Avenue, Hagerstown, MD, 21740
$650,000
Pending
For Sale
$650,000
Pending
Corner property with first-floor office/exam rooms, upper residential apartments, and onsite parking including garages.
Property Size5,602 SF
Days on Market3
Property Features for 382 South Cleveland Avenue
General Information
- Standard status
- Pending
- Size
- 5,602 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1962
Listing agency
EXP Realty, LLC
(240) 418-9074
Listed by
Yahaira Diaz · License #5010456
(240) 418-9074
Source
Compass
Added: Jul 20 Updated: Jul 21 at 5:45PM Checked: Jul 21 at 5:45PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use corner building includes an expansive first floor with six private office/exam rooms, four half bathrooms, and a kitchen. The property also features three residential apartments on the upper level, providing separate rental income from the residential component. Parking includes 12 spaces and two garages, and the building is equipped with a sprinkler system.
The property is located on South Cleveland Avenue in Washington County, Maryland, and is described as being just behind the new Hagerstown SportsPlex/Field House. The listing indicates it is in an area experiencing commercial and entertainment growth.
Previously operated as a daycare and before that as a medical office, the first-floor configuration is described as versatile for a range of commercial uses, with any redevelopment changes noted as subject to buyer verification and City approval. Buyers are encouraged to perform their own due diligence regarding zoning, permitted uses, and redevelopment possibilities.
The property is located on South Cleveland Avenue in Washington County, Maryland, and is described as being just behind the new Hagerstown SportsPlex/Field House. The listing indicates it is in an area experiencing commercial and entertainment growth.
Previously operated as a daycare and before that as a medical office, the first-floor configuration is described as versatile for a range of commercial uses, with any redevelopment changes noted as subject to buyer verification and City approval. Buyers are encouraged to perform their own due diligence regarding zoning, permitted uses, and redevelopment possibilities.
Key Highlights
- Mixed‑use building built in 1962 with 3 residential apartments on the upper level.
- Expansive first floor includes 6 private office/exam rooms, 4 half bathrooms, and a kitchen.
- Previously operated as a daycare and before that as a medical office, supporting flexible commercial uses.
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 | $90.8k | $16.20 |
| − Vacancy | −$6.8k | −$1.22 |
| EGI | $83.9k | $14.99 |
| − OpEx | −$25.2k | −$4.50 |
| NOI | $58.8k | $10.49 |
5,602 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$961.5K
$841.3K – $1.12M
NOI $67,306 @ 7.0% cap · market cap 10.35%
Second Best
Healthcare Medical
$956.8K
$837.2K – $1.12M
NOI $66,975 @ 7.0% cap · market cap 10.30%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,985 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Touchstone Realty
Real Estate Agency
Lardizabal E R ...
Physician
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FAQs
What type of property is this?
Triplex - Corner property with first-floor office/exam rooms, upper residential apartments, and onsite parking including garages.
Where is this triplex located?
The property is located at 382 South Cleveland Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Mixed‑use building built in 1962 with 3 residential apartments on the upper level.; Expansive first floor includes 6 private office/exam rooms, 4 half bathrooms, and a kitchen.; Previously operated as a daycare and before that as a medical office, supporting flexible commercial uses.
