Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    234 Eastern N Blvd Hagerstown, MD 21740-5846

    • Commercial real estate
    • 1.07 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2021
    $1,217,000
    Value Estimations
    $1,215,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1551580
    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

    • Beaver Creek Car Wash Eastern Blvd / Car Wash

    Property Details for 234 Eastern N Blvd

    Lot size
    1.07 lot acres
    Zone code
    U
    Property type
    Commercial real estate
    APN
    22-065061
    APU
    22065061

    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
    -77.6946
    Latitude
    39.639
    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
    $8,000
    $0.00
    $0.00
    $874,333
    -
    $480,600
    $455,200
    $935,800

    Comparable in this City

    • Value Estimation by Request
      0.78 Acres

      Potomac St

      Land • 0.78 Acres
      0 Potomac St, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      9.97 Acres

      1190 Imperial Dr

      Land • 9.97 Acres
      1190 Imperial Dr, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      3.07 Acres

      All Star Ct

      COMMERCIAL (GENERAL) • 3.07 Acres
      All Star Ct, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      0.13 Acres

      40 Antietam St

      COMMERCIAL (GENERAL) • 0.13 Acres
      40 Antietam St, Hagerstown, MD 21740-5610
      View Details
    • Value Estimation by Request
      0.05 Acres

      147 Church St

      COMMERCIAL (GENERAL) • 0.05 Acres
      147 Church St, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      0.11 Acres

      224 Washington St

      COMMERCIAL (GENERAL) • 0.11 Acres
      224 Washington St, Hagerstown, MD 21740-4764
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9.97 Acres

      Light Business Park: Hagerstown Land

      9.97 Acres, Pad-Ready Commercial Land
      1190 Imperial Dr, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      0.78 Acres

      Hagerstown Commercial Land - 0.78 Acres

      Prime Hagerstown location, high visibility, build-to-suit options.
      1394 Potomac St, Hagerstown, MD 21740
      View Details
    • $899,000
      2,178 SF

      Hagerstown Assisted Living Facility

      Turn-key, 9-resident assisted living.
      16202 National Pike, Hagerstown, MD 21740
      View Details
    • $595,000
      9,204 SF

      Hagerstown Multi-Family Investment

      Five-unit rental property, excellent tenants.
      428 Washington St, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      5.00 Acres

      Hagerstown Commercial Land Opportunity

      Five-acre commercial lot, prime location.
      0 Eastern Blvd, Hagerstown, MD 21740
      View Details
    • $175,000
      996 SF

      Hagerstown Commercial Property

      Newly renovated, versatile space, prime location.
      401 Center St, Hagerstown, MD 21740
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      113,323 SF

      Shoppes at Hagerstown Retail Space

      Prime Hagerstown retail space available. Two suites, flexible sizes.
      18053 Garland Groh Blvd, Hagerstown, MD 21740
      View Details
    • $6 SF/Yr
      6,033 SF

      Hagerstown Office Space for Lease

      Flexible workspace solutions in MD.
      33 Franklin St, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      59,000 SF

      Downtown Hagerstown Office Suites

      Prime Office Space, Multiple Suites Available
      90 Washington St, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      47,025 SF

      Foxshire Plaza Retail Space Available

      Hagerstown, MD Shopping Center Space
      1423 Dual Hwy, Hagerstown, MD 21740
      View Details
    • $3,500 /Mo

      Downtown Hagerstown Professional Office Suite

      Multi-office suite in a prime downtown location, ready now.
      5 Public Sq, Hagerstown, MD 21740
      View Details
    • $2,642 /Mo

      Downtown Hagerstown Office Space Available

      Spacious office space near University of Maryland, downtown Hagerstown.
      28 W Washington St W, Hagerstown, MD 21740
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    234 Eastern N Blvd
    Hagerstown, MD 21740-5846
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.