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    136 Franklin St Hagerstown, MD 21740
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    Property profile & analytics

    136 Franklin St Hagerstown, MD 21740

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    • Commercial real estate
    • 5,124 SF
    Off-Market
    Property ID
    US40-0686819
    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

    • Commercial real estate

    Property Details for 136 Franklin St

    Year built
    1894
    Property size
    5,124 SF
    Property type
    Commercial real estate
    APN
    0502

    Description

    This exceptional, fully occupied six-unit apartment building in downtown Hagerstown, Maryland presents a compelling investment opportunity. The property, located at 136 E Franklin St, boasts 5,124 square feet of net rentable space across three stories, situated on a 9,840 square foot lot (APN 0502). Built in 1894, this Class C multifamily building features six spacious units, each approximately 835 square feet, and is currently generating over $7,125 in monthly rental income. Each unit benefits from a separate electric meter, simplifying management and placing utility responsibility on tenants. The building's solid brick and masonry construction ensures structural integrity, enhanced by recently replaced windows improving energy efficiency. The thoughtful layout features two large units per floor, providing tenants with ample living space and privacy. Convenient private rear parking is also included. The property is zoned CCMU and enjoys a legal, non-conforming grandfathered status, ensuring compliance and protecting rental income. Current leases are available for review. This turnkey investment is located in a high-demand area experiencing significant revitalization, making it an ideal addition to any portfolio. The property's location at the gateway to Hagerstown's vibrant arts and entertainment district ensures strong rental appeal and significant future growth potential. This low-maintenance property offers a robust return on investment in a prime location. The fee simple ownership provides complete control and flexibility.

    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
    -77.715692032491
    Latitude
    39.641617514432

    Comparable in this City

    • $2,890,000

      Turnkey Multifamily Investment Opportunity

      Fully occupied, renovated 17-unit multifamily property ideal for 1031 exchange.
      15149 Bloyers Ave, Hagerstown, MD 21740
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    • $2,890,000
      9,859 SF

      Turnkey Multifamily Investment Opportunity

      Fully occupied, renovated 17-unit multifamily property in Hagerstown, MD.
      15149 Bloyers Ave, Hagerstown, MD 21740
      View Details
    • $675,000

      Turnkey Investment with Liquor License

      Established bar with income-producing residential and retail units for sale.
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    • $550,000

      Five-Unit Multi-Building Investment Opportunity

      Fully rented, cash-flowing five-unit multi-building with value-add potential.
      1301 Virginia Ave, Hagerstown, MD 21740
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    Similar Nearby for Sale

    • $2,890,000

      Turnkey Multifamily Investment Opportunity

      Fully occupied, renovated 17-unit multifamily property ideal for 1031 exchange.
      15149 Bloyers Ave, Hagerstown, MD 21740
      View Details
    • $2,890,000
      9,859 SF

      Turnkey Multifamily Investment Opportunity

      Fully occupied, renovated 17-unit multifamily property in Hagerstown, MD.
      15149 Bloyers Ave, Hagerstown, MD 21740
      View Details
    • $675,000

      Turnkey Investment with Liquor License

      Established bar with income-producing residential and retail units for sale.
      500-508 Salem Ave, Hagerstown, MD 21740
      View Details
    • $550,000

      Five-Unit Multi-Building Investment Opportunity

      Fully rented, cash-flowing five-unit multi-building with value-add potential.
      1301 Virginia 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
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    • Contact for pricing

      Commercial Space Under New Management

      Commercial space available for rent with flexible terms and rates.
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      Hagerstown Warehouse and Retail Space

      10,000 SF warehouse/retail space available for quick occupancy.
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    • 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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    136 Franklin 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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