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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Warehouses
16112 Business Pkwy, Hagerstown, MD 21740-4200
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-2249695
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
BRICK
Total area
10,000 SF
Lot
1.2 ac (52,272 SF)
Zoning code
HI
APN
02-019787
UPID
US40-2249695
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
TruGreen Lawn Care Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$930k
Owner & transaction history
2022 Business Parkway LLC · 3 yrs held
2022 Business Parkway LLC
since 2022
Last sale
$920,000
6 recorded transactions
Zoning & alternative use
HI · Hagerstown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+129.9%
Retail stores
$1.5M
+128.6%
Commercial (general)
$1.3M
+86.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hagerstown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hagerstown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$830,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,150,000
6.5%
$1,060,000
7%
$985,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$675,000
Current use
AUTO REPAIR, GARAGE
$1,550,000
Change: +130% · Conversion: Easy
RETAIL STORES
$1,540,000
Change: +129% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,260,000
Change: +87% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $920k (Aug 16 2022)
Last sale anchor
$920k
Aug 16 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$93 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,708
Tax year 2023
Assessed value
$549,200
Assessed 2024
Previous assessed
$549,200
+0.0% YoY
Effective rate
1.04%
On assessed value
Land market value
$108,000
Improvement market value
$442,000
Total market value
$550,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Total area
10,000 SF
Lot
1.2 ac (52,272 SF)
Zoning code
HI
APN
02-019787
UPID
US40-2249695
Jurisdiction
WASHINGTON
Zoning & alternative use
HI · Hagerstown, MD
Zoning HI · permitted uses
HI · Hagerstown, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hagerstown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
BRICK
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
2022 Business Parkway LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 4217, HAGERSTOWN, MD 21741-4217
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2022
$920,000
2022 Business Parkway LLC
Trugreen Property LLC
Deed
—
Mar 17, 2011
—
Trugreen Property LLC
Shank,theodore H
Grant Deed
related
—
Mar 3, 2011
—
Theodore H Shank
Shank,theodore H & Jill
Quit Claim Deed
related
—
Sep 4, 2007
$675,000
Theodore H Shank
Mccleary,richard E
Grant Deed
—
—
—
Richard E Mccleary
—
Deed Of Trust
related
$635,000 · Waypoint Bank
—
—
Theodore H Shank
—
Deed Of Trust
related
$250,000 · Centra Bank INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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