New search
Property profile & analytics
FOR LEASE
Manufacturing properties
227 N Prospect St Hagerstown, MD 21740
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US40-0105929
For Lease
1 / 6
$680,000
227 N Prospect St, Hagerstown, MD 21740
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Construction
BRICK
Total area
72,375 SF
Lot
1.52 ac (66,211 SF)
Zoning code
IR
APN
25-001311
UPID
US40-0105929
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
-
Aloft Studio (Bike/Boat/Book/etc) Store Photography Service
-
Factory 227 Coworking & Hybrid Office
-
Grandera Media Photography Service (Bike/Boat/Book/etc) Store
-
The Other Place Signs (Bike/Boat/Book/etc) Store Printing Service
-
Hot Mess Marketing Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$680k
Owner & transaction history
Viola Verde LLC · 3 yrs held
Viola Verde LLC
since 2023
3 recorded transactions
Zoning & alternative use
IR · 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
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$9 / 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
$11,097
Tax year 2023
Assessed value
$1,212,733
Assessed 2023
Previous assessed
$524,500
+131.2% YoY
Effective rate
0.92%
On assessed value
Land market value
$53,200
Improvement market value
$1,193,200
Total market value
$1,246,400
Applied tax rate
30.0000
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
For Lease
Construction
BRICK
Heating
STEAM
Stories
4
Units
1
Total area
72,375 SF
Lot
1.52 ac (66,211 SF)
Zoning code
IR
APN
25-001311
UPID
US40-0105929
Jurisdiction
WASHINGTON
Zoning & alternative use
IR · Hagerstown, MD
Zoning IR · permitted uses
IR · 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
Construction
BRICK
Heating
STEAM
Stories
4
Units
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Viola Verde LLC
Entity
Mailing address
307 UPPR COLLEGE TER, FREDERICK, MD 21701-4818
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2023
$225,000
Viola Verde LLC
Steven Steinsnyder
Deed
$300,000 · Fcb Banks
Jul 2, 2020
$160,000
Steven Steinsnyder
Thomas Gillenwater
Grant Deed
—
Dec 13, 2006
$600,000
Beachley Building LLC
Beachley Donovan R JR
Grant Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
