Crestwood Dr Hagerstown, MD 21742

Listing agency Berkshire Hathaway HomeService Homesale t***@bowencommercial.com Show Phone

Listed by Taylor Bowen · License #PA ABR005534

Source Crexi

Added: Jan 19, 2024 Updated: Jul 10 at 3:42PM Checked: Jul 21 at 9:54AM

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Investment Insights

Based on property information with market context.

This 7.28-acre campus includes a dormitory/apartment building and two larger office/education buildings. The 13,900 square foot training/office building is currently leased as an office for a three-year period with an option for two additional years. The 25,688 square foot admin/classroom building was most recently operating as a high school, having completed a seven-figure renovation in 2021. The dormitory/apartment building was most recently used for student housing with dorm-style units. The unit mix includes one one-bedroom, one-bathroom unit and eight three-bedroom, one-bathroom units. The one-bedroom unit has already been renovated. With some renovations, the remaining units could be converted into more traditional apartments with an expected monthly rent exceeding $10,000. There is a non-binding LOI for a prospective tenant for the remaining two buildings with confirmation of lease in Spring 2025.

Key Highlights

• 7.28 acre campus with three buildings ideal for educational institutions or investors.
• 25,688 sq ft admin/classroom building recently renovated in 2021.
• 13,900 sq ft training/office building currently leased with lease option until 2028.

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FAQs

What type of property is this?

School - 7.28-acre campus with multiple buildings and income potential.

Where is this school located?

The property is located at Crestwood Dr Hagerstown, MD.

What is the asking price?

The asking price for this property is $3,300,000.

What are key features of this property?

This property features: 7.28 acre campus with three buildings ideal for educational institutions or investors.; **25,688 sq ft admin/classroom building recently renovated in 2021.**; 13,900 sq ft training/office building currently leased with lease option until 2028.