334 Potomac StHagerstown, MD 21740

Property Details for 334 Potomac St

Year built

1968

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.13 AC

Property size (Sq ft)

2,400 SF

Zone code

RO

Property type

Retail properties

Property subtype

Other individual retail properties

APN

22-010352

APU

22010352

Description

This versatile 2,400 square foot mixed-use property at 334 N Potomac Street, Hagerstown, MD, presents a unique investment opportunity. Situated on a 0.13-acre lot, this building offers a blend of commercial and potential residential uses. Previously operating as a laundromat, the property includes all existing laundry equipment as part of the sale, making it an ideal turnkey operation for a new owner. The main level boasts a spacious laundromat area and a separate office suite complete with a private entrance and bathroom. This provides flexibility for a variety of uses, allowing for both front-of-house operations and private office space. The lower level, easily accessible via a rear alley, features ample parking, a convenient roll-up door, and a large open area currently utilized for storage. This lower level space offers significant potential for expansion, additional storage, or even conversion into a separate commercial unit. The property's central Hagerstown location ensures high visibility and accessibility, making it an attractive proposition for a wide range of businesses. The asking price is $350,000. This property is ready for immediate occupancy and offers a compelling opportunity for both established businesses and entrepreneurs seeking a prime location to launch their ventures. Don't miss this chance to acquire a well-positioned commercial property in a thriving Maryland city.

• CAP approach

  CAP return

  Valuation

  6%

  $839,700

  6.5%

  $775,108

  7%

  $719,743

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,209,237

  Geo Method

  $1,209,237

• Alternative Use

  Use

  Valuation

  Residential

  $653,832

  Hospitality

  $598,907

  Educational

  $498,284

  Medical

  $515,420

  Retail

  $775,108

Location Insight

City

Hagerstown

County

Washington

State

Maryland

Latitude

39.6465

Longitude

-77.7161

CBSA code

25180

CBSA name

HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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