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Property profile & analytics
OFF-MARKET
Estimated value
$12,295,000
Warehouses
18516 Henson Blvd, Hagerstown, MD 21742
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US40-0791366
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Total area
49,950 SF
Lot
3.74 ac (162,914 SF)
Zoning code
IG
APN
13-035954
UPID
US40-0791366
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
-
Phoenix color rolls warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.30M
Owner & transaction history
Stat Jv I LLC · 2 yrs held
Stat Jv I LLC
since 2024
Last sale
$12.3M
2 recorded transactions
Zoning & alternative use
IG · Hagerstown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.7M
+265.2%
Restaurant
$13.1M
+251.5%
Retail stores
$7.7M
+106.0%
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
$12,295,000
ML approach
$12,295,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,650,000
Change: +265% · Conversion: Difficult
RESTAURANT
$13,140,000
Change: +252% · Conversion: Difficult
RETAIL STORES
$7,700,000
Change: +106% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,640,000
Change: +104% · Conversion: Easy
Blend value · Realmo final
$12.30M
Range $11.07M – $13.52M · ±10% · vs last sale $12.29M (Feb 8 2024)
Last sale anchor
$12.29M
Feb 8 2024
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
$246 / 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
$24,577
Tax year 2023
Assessed value
$2,363,200
Assessed 2023
Previous assessed
$2,363,200
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$287,000
Assessed improvement
$2,076,200
Land market value
$287,000
Improvement market value
$2,076,200
Total market value
$2,363,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Heating
SPACE
Stories
1
Units
1
Total area
49,950 SF
Lot
3.74 ac (162,914 SF)
Zoning code
IG
APN
13-035954
UPID
US40-0791366
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
OFFICE BUILDING
Est. value
$13.7M
RESTAURANT
Est. value
$13.1M
RETAIL STORES
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$7.6M
OFFICE BUILDING
RESTAURANT
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
2006
Heating
SPACE
Stories
1
Units
1
Lot
3.74 ac
Current owner
From public records · entity-resolved
Stat Jv I LLC
Entity
Mailing address
8377 E HARTFORD DR STE #100, SCOTTSDALE, AZ 85255-5686
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2024
$12,292,583
Stat Jv I LLC
Phoenix Md Realty LLC
Special Warranty Deed
$17,039,509 · Citibank NA
—
—
Phoenix Md Realty LLC
—
Deed Of Trust
related
$105,000,000 · Cerberus Busn Fin
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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