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

    246 Eastern N Blvd Hagerstown, MD 21740-5965

    • Commercial real estate
    • 2,022 SF
    OFF-MARKET
    Last Sale
    Jan 08, 2024
    $645,000
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    3.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US40-1581858
    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

    • Ability Ottobock.care / Orthotics & Prosthetics Service
    • Peprah K M D MD / Doctor
    • Internal Medicine Practice / Medical Clinic / Internist
    • Dr. Richard Y. Koduah, MD / Doctor
    • Kidney Center of Hagerstown / Medical Clinic / Nephrologist

    Property Details for 246 Eastern N Blvd

    Property size
    2,022 SF
    Property type
    Commercial real estate
    APN
    22-065166
    APU
    22065166

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $645,000
      ML approach
      $645,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $410,000
      Market price range: $128k - $410k
      AI Estimate
      $475,000
      Market price range: $186k - $476k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.6938
    Latitude
    39.6395
    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
    $3,607
    $118,200
    $276,000
    $394,200
    -
    $118,200
    $276,000
    $394,200

    Comparable in this City

    • Value Estimation by Request
      0.78 Acres

      1394 Potomac St

      Land • 0.78 Acres
      1394 Potomac St, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      5.00 Acres

      Eastern Blvd

      Land • 5.00 Acres
      0 Eastern Blvd, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      2,178 SF

      16202 National Pike

      Commercial real estate • 2,178 SF
      16202 National Pike, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      3.59 Acres

      17631 Washington St

      COMMERCIAL (GENERAL) • 3.59 Acres
      17631 Washington St, Hagerstown, MD 21740-5198
      View Details
    • Value Estimation by Request
      0.38 Acres

      311 Potomac St

      COMMERCIAL (GENERAL) • 0.38 Acres
      311 Potomac St, Hagerstown, MD 21740
      View Details
    • Value Estimation by Request
      0.17 Acres

      208 Frederick St, Unit 208-214

      COMMERCIAL (GENERAL) • 0.17 Acres
      208 Frederick St, Hagerstown, MD 21740-6100
      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
    • $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
    • $899,000
      2,178 SF

      Hagerstown Assisted Living Facility

      Turn-key, 9-resident assisted living.
      16202 National Pike, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      1.00 Acre

      Hagerstown Medical Office Land

      Prime 1-acre lot, ideal medical/office.
      0 Eastern Blvd, Hagerstown, MD 21740
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,300 SF

      Hagerstown Office Space - Prime Location

      Historic Office Building, Multiple Suites Available
      24 Jonathan St, Hagerstown, MD 21740
      View Details
    • $12 SF/Yr
      19,156 SF

      Downtown Hagerstown Office Space

      Class A Office Suites Available
      100 Antietam St, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      10,000 SF

      Hagerstown Retail Space Available

      Flexible Retail/Office Space in Hagerstown, MD
      10301 Remington Dr, Hagerstown, MD 21740
      View Details
    • $6,000 /Mo

      Turn Key Automotive Repair Facility

      Automotive repair facility for lease with equipment and utilities included.
      500 Maryland Ave, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      36,000 SF

      Hagerstown Retail Space for Lease

      36,000 SF retail space available in Hagerstown, Maryland.
      115 Premium Outlets Blvd, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Valley Mall

      Retail space available near Valley Mall in Hagerstown, Maryland.
      1580 Wesel Blvd, 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.
    246 Eastern N Blvd
    Hagerstown, MD 21740-5965
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.