8-Unit Brick Apartment
New
For Sale
$899,000
400 MITCHELL Avenue, Hagerstown, MD 21740
Multi-Family, HAGERSTOWN, MD
Property Size7,000 SF
Lot Size0.12 Acres
Price / SF$128.43
Days on Market3
Property Features for 400 MITCHELL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
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
7,000 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
13736
Utilities
Heating system
Electric (Heating), Baseboard
Amenities
rear balcony
Building Details
Year built
1950
Number of units
4
Building materials
Brick
Listing Agency:
Inch & Co. Real Estate, LLC
(717) 904-4500
Listed By:
Bradley J Bygall · License #5024639
(717) 798-0995
Added: Oct 28
Last Checked: Oct 30 at 2:06AM
MLS# MDWA2041124
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.
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Investment Insights
Based on property information with market context.
This 8-unit apartment property was built in 1950 and has brick construction. The building contains 7,000 square feet on a 0.1222-acre site, with a consistent mix of eight two-bedroom, one-bathroom apartments. Each apartment includes a rear balcony and two entrances. Heating is electric baseboard, and parking is on street.
The property is at 400 Mitchell Avenue in Hagerstown, just off Burhans Boulevard. Shopping, restaurants, public transportation, and major highways are described as accessible from the location.
The property is at 400 Mitchell Avenue in Hagerstown, just off Burhans Boulevard. Shopping, restaurants, public transportation, and major highways are described as accessible from the location.
Key Highlights
- Eight apartments, each with 2 bedrooms and 1 bathroom
- 7,000 square feet on a 0.1222‑acre lot
- Brick construction; built in 1950
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,879
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,580
$1.3M
Cap Rate 7%
$941,129
$941.1K
Cap Rate 9%
$731,989
$732.0K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$128.5K $18.36/SF
− Vacancy
−$8.7K −$1.25/SF
EGI
$119.8K $17.11/SF
− OpEx
−$53.9K −$7.70/SF
NOI
$65.9K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,580
Cap Rate 7%
$941,129
Cap Rate 9%
$731,989
Alternative Uses
Best Use
Apartment 5plus
$941.1K
$823.5K – $1.10M
NOI $65,879 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,693 @ 7.0% cap · market cap 12.09%
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
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,549
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has two bedrooms, one bathroom, a rear balcony, and two entrances.
Where is this apartment building located?
The property is located at 400 MITCHELL Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Eight apartments, each with 2 bedrooms and 1 bathroom; 7,000 square feet on a 0.1222‑acre lot; Brick construction; built in 1950
