55 S Potomac St HAGERSTOWN, Hagerstown, MD 21740

Building Details

Year Built

1900

Listing agent MATTHEW HILLDOERFER License #653540

Listing office MR. LISTER REALTY m***@gmail.com Show Phone

Listing date Jul 1, 2025

Source Corcoran

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Overview

This mixed-use property features 32 residential units, two commercial units, and a leasing office. The residential occupancy rate is 94%. One of the commercial spaces is currently leased under a 5-year agreement. Situated in downtown Hagerstown, the property benefits from high vehicular and foot traffic. It is located near Meritus Park Stadium, the Maryland Theatre, Meinelschmidt Distillery, Bulls and Bears, Schmankerl Stube Restaurant, and the Washington County Public Library. The property is located within a Qualified Opportunity Zone, the City of Hagerstown Arts & Entertainment District, the City of Hagerstown Main Street Grant Area, the City of Hagerstown Partners in Economic Progress (PEP) Program zone, the City of Hagerstown City Center Redevelopment Grant zone, the Downtown Historic District, and an Enterprise Zone. The current owner has secured approval for two grant applications, and prospective buyers may pursue additional opportunities. The projected cap rate is 8.4%.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Hagerstown

County

Washington

State

Maryland

Longitude

-77.7215

Latitude

39.641

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FAQs

What type of property is this?

Apartment building - 32 residential units, two commercial units, and a leasing office.

Where is this apartment building located?

The property is located at 55 S Potomac St HAGERSTOWN Hagerstown, MD.

What is the asking price?

The asking price for this property is $3,840,000.

What are key features of this property?

This property features: High 8.4% Projected Cap Rate; 94% Residential Occupancy Rate; Prime Downtown Hagerstown Location with High Vehicular and Foot Traffic