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55 S Potomac St, Unit HAGERSTOWN Hagerstown, MD 21740

For Sale
$3,950,000

32 residential units, two commercial units, and a leasing office.

Lot size:
0.11 Acres

Property Features for 55 S Potomac St

General Information

Lot size
0.11 Acres

Building Details

Year built
1900

Source: MR. LISTER REALTY Agent MATTHEW HILLDOERFER

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Downtown Hagerstown Mixed-Use Investment

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%.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Hagerstown
County
Washington
State
Maryland
Longitude
-77.7215281
Latitude
39.6409831

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, Unit HAGERSTOWN Hagerstown, MD.
What is the asking price?
The asking price for this property is $3,950,000.
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
More about this property
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