Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    208 Washington St Hagerstown, MD 21740
    Property profile & analytics

    208 Washington St, Hagerstown, MD 21740

    View on Map
    • Warehouses
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 208 Washington St

    Property type
    Warehouses
    Property subtype
    Specialty properties

    Description

    This exceptional commercial property in Hagerstown, MD, offers approximately 1,300 to 1,500 square feet of versatile space, ideal for a variety of businesses. Located at 208 E Washington St, 21740, this single-tenant unit boasts a large garage with a roll-up door, perfect for storage or vehicle access. Two well-appointed offices provide ample space for administrative tasks or client meetings, complemented by a convenient on-site bathroom. The property's layout is adaptable to suit diverse business needs, from workshops and distribution centers to creative studios. Its downtown Hagerstown location ensures excellent visibility and accessibility. The property is classified as Office, Industrial, and Special Purpose, encompassing Traditional Office, Manufacturing, Warehouse, and Garage subtypes within Washington County. This unique combination of features makes it an attractive option for businesses seeking a functional and convenient workspace. The property includes a dropbox for mail or payments. This is a rare opportunity to secure a commercial space that seamlessly blends storage, office space, and essential amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.716
    Latitude
    39.6401

    Comparable in this City

    • Value Estimation by Request
      85,062 SF

      Hunters Green Pkwy

      Distribution properties
      0 Hunters Green Pkwy, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request

      11903 Greencastle Pike

      Distribution properties
      11903 Greencastle Pike, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      63.00 Acres

      Label Ln

      Distribution properties
      0 Label Ln, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      10,000 SF

      1023 Washington St

      Distribution properties
      1023 Washington St, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request

      Arnett Dr

      Distribution properties
      0 Arnett Dr, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      21,050 SF

      12111-17 Insurance Way

      Distribution properties
      12111-17 Insurance Way, Hagerstown, MD 21740
      View Details

    Similar Nearby for Sale

    • $65,000

      Versatile Garage Space Opportunity

      Spacious garage ideal for storage, auto repair, or workshop.
      400 Howard St W, Hagerstown, MD 21740
      View Details
    • $60,000

      Versatile Garage Space Opportunity

      Rare 1200 sq ft garage space for various uses.
      743 Guilford Ave, Hagerstown, MD 21740
      View Details
    • $2,900,000

      Renovated Flex Space For Sale

      44,000 sq ft renovated flex space with owner financing.
      651 N Prospect St, Hagerstown, MD 21740
      View Details
    • $250,000
      7,800 SF

      Downtown Hagerstown Commercial Opportunity

      Versatile commercial space near downtown Hagerstown with flexible layout.
      35 E Washington St, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      768 SF

      Versatile Mixed-Use Commercial Property

      Mixed-use property suitable for various business and residential purposes.
      1096 S Potomac St, Hagerstown, MD 21740
      View Details
    • $750,000

      Historic Hagerstown Landmark Building

      Renaissance Revival building with redevelopment potential in historic downtown.
      16 W Franklin St, Hagerstown, MD 21740
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      304,000 SF

      Warehouse/Distribution Center Build-To-Suit

      304,000 SF build-to-suit warehouse/distribution center available for rent.
      12118 Greencastle Pike, Hagerstown, MD 21740
      View Details
    • Contact for pricing

      Old School Industrial/Creative Space

      Versatile industrial space suitable for creative, office, or manufacturing uses.
      686 Pennsylvania Ave, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      291,600 SF

      Hagerstown Warehouse Space Available

      291,600 SF warehouse space available for lease.
      1527 Howell Rd, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      480,000 SF

      480,000 SF Build-to-Suit Warehouse

      480,000 SF build-to-suit warehouse near I-70 and I-81.
      11943 Greencastle Pike, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      515,000 SF

      515,000 SF Industrial Development

      Class A industrial space at I-81 and I-70.
      11159 Hopewell Rd, Hagerstown, MD 21740
      View Details
    • Sponsored
      Contact for pricing

      33 W. Franklin St.

      Discover many ways to work your way in 33 W. Franklin St.
      33 Franklin St 2 &, Hagerstown, MD 21740
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    208 Washington St
    Hagerstown, MD 21740
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    208 Washington St, Hagerstown, MD, 21740
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!