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    Eastern Blvd Hagerstown, MD 21740

    Sponsored
    For Sale
    Contact for pricing

    Prime 1-acre lot, ideal medical/office.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 1.053-acre commercial lot presents a unique investment opportunity in Hagerstown, Maryland. Located on Eastern Blvd in Washington County, zip code 21740 (39.6317654, -77.7082617), this property is zoned POM (Professional Office - Mixed Use), offering a wide range of permitted uses. The zoning allows for development of various medical and office facilities, including adult day care services, ambulatory health services, medical laboratories, general office space, outpatient substance abuse centers, veterinary services, research and development facilities, and ample parking. The site's location within a high-growth corridor ensures strong potential for future appreciation and high occupancy rates. This is a blank canvas for a developer seeking to capitalize on the increasing demand for medical and office space in this thriving area. The property's size and zoning make it suitable for a variety of projects, from small medical practices to larger multi-tenant office buildings. Serious inquiries are encouraged to explore the possibilities of this exceptional development opportunity. The property is being offered for sale and presents a compelling investment prospect for those seeking a strategic entry point into the Hagerstown commercial real estate market.

    Property Features for 0 Eastern Blvd

    General Information

    Property type
    Land
    Lot Size
    43,560 SF

    HighLights

    • 1.053‑acre site
    • POM Zoning
    • Professional Office/Mixed‑Use zoning allows diverse uses
    • Permitted uses include adult day care, ambulatory health services, medical labs, offices, outpatient substance abuse centers, veterinary services, R&D, and ample parking
    • Located in a high‑growth corridor
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7082617
    Latitude
    39.6317654

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    FAQs

    What type of property is this?
    Land - Prime 1-acre lot, ideal medical/office.
    Where is this land located?
    The property is located at Eastern Blvd Hagerstown, MD.
    What are key features of this property?
    This property features: 1.053-acre site; POM Zoning; Professional Office/Mixed-Use zoning allows diverse uses
    Request Owner's contact information
    Eastern Blvd Hagerstown, MD 21740
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Eastern Blvd Hagerstown, MD 21740
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