Former Restaurant Redevelopment
For Sale
Contact for pricing
16715 National Pike, Hagerstown, MD 21740
Former restaurant available for redevelopment with high visibility.
Property Size5,500 SF
Price / SF$131.82
Days on Market760
Property Features for 16715 National Pike
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail, Land
Zoning
General Business
Listing Agency:
Friend Commercial Real Estate
Listed By:
Ted Kroos · License #310309
(410) 449-1074
Source:
Crexi
Added: Sep 18, 2024
Changed: Oct 7
Last Checked: Oct 16 at 8:16AM
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 Friend Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, formerly a restaurant, presents a redevelopment opportunity. The site offers high visibility. The property size is 5,500 square feet.
Key Highlights
- High visibility location
- Redevelopment opportunity
- Former restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,749
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,114,980
$1.1M
Cap Rate 7%
$796,414
$796.4K
Cap Rate 9%
$619,433
$619.4K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$82.5K $15.00/SF
− Vacancy
−$8.2K −$1.49/SF
EGI
$74.3K $13.52/SF
− OpEx
−$18.6K −$3.38/SF
NOI
$55.7K $10.14/SF
Area
Washington County, MD
Vacancy
9.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,114,980
Cap Rate 7%
$796,414
Cap Rate 9%
$619,433
Alternative Uses
Best Use
Specialty Retail
$796.4K
$696.9K – $929.2K
NOI $55,749 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,401 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
49k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sheetz
Shops & Services
40,901 visits/mo
0.5 miles
Dollar General
Shops & Services
8,570 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Restaurant - Former restaurant available for redevelopment with high visibility.
Where is this restaurant located?
The property is located at 16715 National Pike Hagerstown, MD.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: High visibility location; Redevelopment opportunity; Former restaurant
