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Property profile & analytics
OFF-MARKET
Estimated value
$3,915,000
Manufacturing properties
18238 Showalter Rd Hagerstown, MD 21742-1345
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US40-1426724
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1957
Construction
BRICK
Total area
351,104 SF
Lot
55.68 ac (2,425,421 SF)
Zoning code
AP
APN
13-023719
UPID
US40-1426724
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
-
Bowman Logistics and Warehousing Warehouse & Storage
-
World Of Stones USA Building Supply Factory
-
Freedom Electronics Recycling Recycling Center Waste Management Facility
-
Carson Roofing, Inc Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.92M
Owner & transaction history
Bowman Air Park LLC · 26 yrs held
Bowman Air Park LLC
since 2000
3 recorded transactions
Zoning & alternative use
AP · Hagerstown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$11 / 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
$116,035
Tax year 2023
Assessed value
$11,157,200
Assessed 2023
Previous assessed
$10,986,833
+1.6% YoY
Effective rate
1.04%
On assessed value
Assessed land
$1,750,000
Assessed improvement
$9,407,200
Land market value
$1,750,000
Improvement market value
$9,407,200
Total market value
$11,157,200
Applied tax rate
13.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1957
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
351,104 SF
Lot
55.68 ac (2,425,421 SF)
Zoning code
AP
APN
13-023719
UPID
US40-1426724
Jurisdiction
WASHINGTON
Zoning & alternative use
AP · Hagerstown, MD
Zoning AP · permitted uses
AP · 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.
Building & site characteristics
From public records
Year built
1957
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
55.68 ac
Current owner
From public records · entity-resolved
Bowman Air Park LLC
Entity
Mailing address
10228 GOVERNOR LN BLVD UNIT #3002, WILLIAMSPORT, MD 21795-4064
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2022
—
Bowman Air Park LLC
—
Deed
related
$75,000,000 · Wells Fargo Bank NA
Aug 1, 2016
—
Bowman Air Park LLC
—
Deed
related
$5,500,000 · United Bank
Jun 28, 2000
$4,600,000
Bowman Air Park LLC
Rohr Industries INC
Grant Deed
$4,650,000 · Farmers First Bank
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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