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    104 E Baltimore St Hagerstown, MD 21740
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    Property profile & analytics

    104 E Baltimore St Hagerstown, MD 21740

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    • Apartment buildings
    • 4,287 SF
    Off-Market
    Property ID
    US40-1276144
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 104 E Baltimore St

    Year built
    1913
    Property size
    4,287 SF
    Property type
    Apartment buildings

    Description

    Beautiful, solid brick 6 unit (3 units on each side of street numbers 104 and 106), in downtown near arts district. Updates include new roof in 2004 and steel emergency exit stairs. Low utility cost for owners, tenants pay electric/heat. Potential room for coin-op washer/dryer in semi-finished basem ... ent. Currently 5 out of 6 units occupied with 6th unit normally renting for $750.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7197224
    Latitude
    39.6381237

    Comparable in this City

    • $2,110,000
      7,080 SF

      Downtown Multifamily Investment Opportunity

      Two adjoining apartment buildings with 20 units in downtown Hagerstown.
      220-226 Summit Ave, Hagerstown, MD 21740
      View Details
    • $925,000

      Mixed-Use Investment in Downtown Hagerstown

      Stabilized 10-unit property with value-add potential in a prime location.
      101 Potomac St, Hagerstown, MD 21740
      View Details
    • $625,000
      6,568 SF

      HAGERSTOWN Multifamily Investment Opportunity

      Fully rented five-unit property near City Park in HAGERSTOWN, MD.
      601 Highland Way, Hagerstown, MD 21740
      View Details
    • $649,000
      4,811 SF

      HAGERSTOWN Multi-Unit Investment Opportunity

      Five-unit apartment building overlooking the new Meritus Baseball Park.
      165 Summit Ave, Hagerstown, MD 21740
      View Details

    Similar Nearby for Sale

    • $2,110,000
      7,080 SF

      Downtown Multifamily Investment Opportunity

      Two adjoining apartment buildings with 20 units in downtown Hagerstown.
      220-226 Summit Ave, Hagerstown, MD 21740
      View Details
    • $925,000

      Mixed-Use Investment in Downtown Hagerstown

      Stabilized 10-unit property with value-add potential in a prime location.
      101 Potomac St, Hagerstown, MD 21740
      View Details
    • $625,000
      6,568 SF

      HAGERSTOWN Multifamily Investment Opportunity

      Fully rented five-unit property near City Park in HAGERSTOWN, MD.
      601 Highland Way, Hagerstown, MD 21740
      View Details
    • $649,000
      4,811 SF

      HAGERSTOWN Multi-Unit Investment Opportunity

      Five-unit apartment building overlooking the new Meritus Baseball Park.
      165 Summit Ave, Hagerstown, MD 21740
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      Downtown Hagerstown Retail/Office Space

      Former daycare suite in vibrant downtown Hagerstown, available immediately.
      20 Washington St W, Hagerstown, MD 21740
      View Details
    • Contact for pricing

      Commercial Space Under New Management

      Commercial space available for rent with flexible terms and rates.
      22 N Mulberry St, Hagerstown, MD 21740
      View Details
    • Contact for pricing

      Hagerstown Warehouse and Retail Space

      10,000 SF warehouse/retail space available for quick occupancy.
      1023 W Washington St, Hagerstown, MD 21740
      View Details
    • Contact for pricing

      Industrial Single Tenant Opportunity

      23,800 SqFt industrial space available for single tenant.
      18043 Oak Ridge Dr, Hagerstown, MD 21740
      View Details
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    104 E Baltimore St
    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.

    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
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