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    530 Locust St Hagerstown, MD 21740

    Sponsored
    For Sale
    $1,300,000

    23,800 SF Office Space, $1.3M

    Property size:
    23,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 23,800 square foot, three-story brick office building situated on a 1.77-acre lot in Hagerstown, Maryland. Originally constructed in 1930 as a school, the property boasts a rich history and currently features numerous classrooms, training rooms, conference rooms, administrative offices, and a large staff lounge. A secondary 3,260 square foot metal clad building provides additional space, ideal for storage or expansion. The property includes 101 paved parking spaces within a fully fenced area. The building is well-maintained and presents in excellent condition. Currently zoned Residential-Medium Density (RMED), the property's current office use is considered non-conforming. The asking price is $1,300,000, translating to $54.62 per square foot. This property offers significant potential for various uses, given its size, location, and existing infrastructure. The address is 530 N Locust St, Hagerstown, MD 21740. This is a rare opportunity to acquire a substantial property in a desirable location with significant upside potential.

    Property Features for 530 Locust St

    General Information

    Property type
    Office space
    Square Feet
    23,800 SF

    HighLights

    • $1,300,000 asking price for a 23,800 square foot office building.
    • Located at 530 N Locust St, Hagerstown, MD 21740.
    • Features a three‑story brick building (23,800 SF) and a separate 3,260 SF metal clad building.
    • Includes 101 paved parking spaces on a 1.77‑acre site.
    • Currently zoned Residential‑Medium Density (RMED), with a non‑conforming office use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Landlords & Property Owners ... Real Estate Agency Associated Builders and Contractors ... Association / Organization ABC CVC Association / Organization Associated Builders and Contractors ... Contractor

    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
    -77.7120142
    Latitude
    39.6477261

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    FAQs

    What type of property is this?
    Office space - 23,800 SF Office Space, $1.3M
    Where is this office space located?
    The property is located at 530 Locust St Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: $1,300,000 asking price for a 23,800 square foot office building.; Located at 530 N Locust St, Hagerstown, MD 21740.; Features a three-story brick building (23,800 SF) and a separate 3,260 SF metal clad building.
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    530 Locust St Hagerstown, MD 21740
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    Hagerstown, MD 21740
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    Realmo Value Estimation

    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.

    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
    530 Locust St Hagerstown, MD 21740
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