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Property profile & analytics
OFF-MARKET
Estimated value
$3,830,000
Manufacturing properties
18400 Precision Pl Hagerstown, MD 21742-3294
Entity Owned
3-yr Hold
Free & Clear
Property ID
US40-2039677
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1965
Construction
BRICK
Total area
40,600 SF
Lot
9.28 ac (404,237 SF)
Zoning code
HI
APN
27-000436
UPID
US40-2039677
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 Development Corporation Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.19M
CAP Approach
CAP
$3.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.83M
Owner & transaction history
Morgan Property Investments LLC · 3 yrs held
Morgan Property Investments LLC
since 2023
Last sale
$4.0M
4 recorded transactions
Zoning & alternative use
HI · Hagerstown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.3M
+448.2%
Medical building
$6.3M
+447.6%
Commercial (general)
$5.9M
+418.1%
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
$3,495,000
ML approach
$4,190,000
CAP Approach
CAP Return
Estimation
6%
$3,840,000
6.5%
$3,545,000
7%
$3,290,000
Alternative Use
Use
Estimation
RESTAURANT
$6,285,000
Change: +448% · Conversion: Difficult
MEDICAL BUILDING
$6,280,000
Change: +448% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,940,000
Change: +418% · Conversion: Difficult
OFFICE BUILDING
$4,365,000
Change: +281% · Conversion: Difficult
RETAIL STORES
$3,445,000
Change: +201% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,380,000
Change: +195% · Conversion: Easy
Blend value · Realmo final
$3.83M
Range $3.45M – $4.21M · ±10% · vs last sale $3.96M (Jun 28 2023)
Last sale anchor
$3.96M
Jun 28 2023
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
$94 / 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
$17,228
Tax year 2023
Assessed value
$1,656,500
Assessed 2023
Previous assessed
$1,656,500
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$1,206,400
Assessed improvement
$450,100
Land market value
$1,206,400
Improvement market value
$450,100
Total market value
$1,656,500
Applied tax rate
27.0000
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
1965
Construction
BRICK
Heating
SPACE
Cooling
YES
Stories
1
Units
1
Total area
40,600 SF
Lot
9.28 ac (404,237 SF)
Zoning code
HI
APN
27-000436
UPID
US40-2039677
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
RESTAURANT
Est. value
$6.3M
MEDICAL BUILDING
Est. value
$6.3M
COMMERCIAL (GENERAL)
Est. value
$5.9M
OFFICE BUILDING
Est. value
$4.4M
RETAIL STORES
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.4M
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1965
Construction
BRICK
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
9.28 ac
Current owner
From public records · entity-resolved
Morgan Property Investments LLC
Entity
Free & Clear · 3 yrs held
Mailing address
18400 PRECISION PL HAGERSTOWN
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2023
$3,963,960
Morgan Property Investments LLC
Bowman North LLC
Deed
—
Dec 21, 2007
$3,480,000
Bowman North LLC
Vishay Resistive Systems INC
Grant Deed
$2,800,000 · Pnc Bank
Dec 20, 2007
$65,992
Board Of County Commissioners/was
Vishay Resistive Systems INC
Grant Deed
—
—
—
Bowman North LLC
—
Deed Of Trust
related
$2,825 · Orrstown 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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