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Property profile & analytics
FOR LEASE
Industrial properties
18450 Showalter Rd Hagerstown, MD 21742
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-1198767
For Lease
1 / 3
$23,685,000
18450 Showalter Rd, Hagerstown, MD 21742
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Property summary
AI-generated overview
New Heights Industrial Park offers a prime opportunity for businesses seeking flexible industrial space in Hagerstown, Maryland. This 764,619 square foot facility, situated on 41.9 acres, features thirteen suites with a minimum divisible space of 43,750 square feet and a maximum contiguous space of 250,000 square feet
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1944
Total area
838,657 SF
Lot
12.4 ac (540,144 SF)
Zoning code
IG
APN
27-005012
UPID
US40-1198767
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
-
Ongoing Operations Information Services Data Recovery Service
-
First Breach Industrial Manufacturer Production Facility
-
PODS Moving & Storage Moving Company Storage Facility
-
Hagerstown Aviation Museum Museum Tourist Attraction
-
Program insite LLC Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.68M
Blend (final)
Blend
$23.69M
Owner & transaction history
The Hagerstown Aviation Muselum INC · 3 yrs held
The Hagerstown Aviation Muselum INC
since 2023
7 recorded transactions
Zoning & alternative use
IG · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$23,685,000
Current use
Blend value · Realmo final
$23.69M
Range $21.32M – $26.05M · ±10%
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
$28 / 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
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1944
Heating
NONE
Stories
2
Total area
838,657 SF
Lot
12.4 ac (540,144 SF)
Zoning code
IG
APN
27-005012
UPID
US40-1198767
Jurisdiction
WASHINGTON
Zoning & alternative use
IG · Hagerstown, MD
Zoning IG · permitted uses
IG · 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
INDUSTRIAL (GENERAL) Current
Est. value
$23.7M
INDUSTRIAL (GENERAL) Current
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
1944
Heating
NONE
Stories
2
Lot
12.4 ac
Current owner
From public records · entity-resolved
The Hagerstown Aviation Muselum INC
Entity
Mailing address
4080 LAFAYETTE CTR DR STE #360, CHANTILLY, VA 20151-1252
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2023
—
New Heights Industrial Park LLC
—
Deed
related
$21,400,000 · Ubs Bank USA
Apr 6, 2023
$4,500,000
The Hagerstown Aviation Muselum INC
New Heights Industrial Park LLC
Special Warranty Deed
—
Apr 16, 2021
—
New Heights Industrial Park LLC
—
Deed
related
$16,000,000 · Ubs Bank USA
Jan 24, 2020
$16,200,000
New Hts Indl Pk LLC
Topflight Owner LLC
Grant Deed
$10,000,000 · Sorkin Hagerstown Debt LLC
Jun 19, 2019
$12,248,636
Topflight Owner LLC
First Flight Unit 2 LP
Deed
related
—
Oct 12, 2017
—
First Flight Unit 2 LP
First Flight LP
Quitclaim Deed
$10,985,000 · Iborrow Fin Loan Fund I LP
—
—
First Flight LP
—
Deed Of Trust
related
$9,750,000 · M & T Bank
—
—
Flight First
—
Deed Of Trust
related
$10,000,000 · Mainstreet Bank
—
—
Flight First
—
Deed Of Trust
related
$5,650,000 · Alliance 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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