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    Property profile & analytics

    222 Oak Rdg Dr Hagerstown, MD 21740-7858

    • Strip malls
    • 7,204 SF
    • 6.54 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1438205
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sherry Scire, RE/MAX Achievers / Real Estate Agency
    • One Stop Jewelry Shop / (Bike/Boat/Book/etc) Store
    • South Pointe Center / Business Service Center / Corporate Office
    • Danielle Hamilton, RE/MAX Achievers / Real Estate Agency
    • Fonda Rowe Realtor at Re/Max Achievers / Real Estate Agency

    Property Details for 222 Oak Rdg Dr

    Year built
    2004
    Lot size
    6.54 lot acres
    Property size
    7,204 SF
    Zone code
    RS-PU
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    10-052971
    APU
    10052971

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7228
    Latitude
    39.6122
    CBSA code
    25180
    CBSA name
    HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $44,791
    $2,740,400
    $1,566,400
    $4,306,800
    -
    $2,740,400
    $1,566,400
    $4,306,800

    Comparable in this City

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      $1,110,000
      20,062 SF

      18330 Spark Dr

      SHOPPING CENTER, STRIP CENTER • 20,062 SF
      18330 Spark Dr, Hagerstown, MD 21740-2078
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    • Value Estimation by Request
      9,641 SF

      301 Franklin St

      SHOPPING CENTER, STRIP CENTER • 9,641 SF
      301 Franklin St, Hagerstown, MD 21740-4724
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    • Value Estimation by Request
      4,800 SF

      17715 Virginia Ave

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      17715 Virginia Ave, Hagerstown, MD 21740-7001
      View Details
    • Value Estimation
      $695,000
      14,778 SF

      118 Oak Rdg Dr

      SHOPPING CENTER, STRIP CENTER • 14,778 SF
      118 Oak Rdg Dr, Hagerstown, MD 21740-7793
      View Details
    • Value Estimation by Request
      10,500 SF

      1750 Dual Hwy

      SHOPPING CENTER, STRIP CENTER • 10,500 SF
      1750 Dual Hwy, Hagerstown, MD 21740-6635
      View Details
    • Value Estimation
      $865,000
      7,950 SF

      17520 Virginia Ave

      SHOPPING CENTER, STRIP CENTER • 7,950 SF
      17520 Virginia Ave, Hagerstown, MD 21740-7725
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      118,055 SF

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    • $430,000
      1.32 Acres

      Hagerstown Open Lot For Sale

      Open lot suitable for car lot, fleet parking, or logistics.
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      Turn-Key Mixed-Use Property Investment

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      Versatile Commercial Space in Hagerstown

      Prime location suitable for retail, office, showroom, or entertainment.
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      Turn-Key Mixed-Use Investment Opportunity

      Fully occupied six-unit building with stable cash flow.
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      5,500 SF

      Former Restaurant Redevelopment Opportunity

      Former restaurant available for redevelopment with high visibility.
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    Similar Nearby for Lease

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      3,971 SF

      Retail Space in Hagerstown Center

      Retail space available in high-traffic Hagerstown power center.
      18019 Garland Groh Blvd, Hagerstown, MD 21740
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    • Contact for pricing
      17,350 SF

      Retail Space Near Hagerstown Outlets

      Retail space with high visibility near major retailers and highways.
      1101-1181 Maryland Ave, Hagerstown, MD 21740
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      3,000 SF

      Retail Space Near Valley Mall

      Retail space available near Valley Mall in Hagerstown, Maryland.
      1580 Wesel Blvd, Hagerstown, MD 21740
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      1,272 SF

      Regional Center Retail Space Available

      Retail spaces available in Hagerstown regional shopping center.
      17604-17716 Garland Groh Blvd, Hagerstown, MD 21740
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    • Contact for pricing

      Hagerstown Premium Outlets Retail Space

      Regional shopping center with flexible retail and restaurant spaces available.
      100 Premium Outlets Blvd, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space on Wilson Blvd

      Retail property with high visibility and strong demographics.
      761 E Wilson Blvd, Hagerstown, MD 21740
      View Details
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    Hagerstown, MD 21740-7858
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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