351 S Potomac St Hagerstown, MD 21740
For Sale
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This exceptional 17,420 square foot commercial property, situated on a 1.14-acre lot at 351 S Potomac Street in Hagerstown, Maryland, presents a compelling investment opportunity. Currently generating income with a strong 11% capitalization rate, the property boasts two newly renovated apartments that are fully leased, providing immediate cash flow. The existing commercial lease offers options for renewal with a long-term tenant, ensuring continued rental income. The property's prime location offers excellent visibility and ample parking, enhancing its appeal to both tenants and investors. The building's strong occupancy and the potential for future income streams make this a rare find in the Hagerstown market. A 24-48 hour notice is required for showings. This property is ideal for investors seeking a stable, high-return investment with significant upside potential. The property's size and location make it suitable for a variety of commercial uses, offering flexibility for future development or expansion. Detailed financial information and lease agreements are available upon request. Don't miss this chance to acquire a proven income-producing asset in a thriving Hagerstown location.
IR - Industrial Restricted. It allows offices and less intense manufacturing and warehousing. It is usually located adjacent to residential (e.g., Lee and Sycamore Street area, N. Prospect Street, Prospect Avenue, MD 58 west of I-81, Industrial Park). IG - Industrial General. Allows our most intense industrial operations (e.g., E. First Street, Mitchell Aven…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
IR · Hagerstown, MDIR - Industrial Restricted. It allows offices and less intense manufacturing and warehousing. It is usually located adjacent to residential (e.g., Lee and Sycamore Street area, N. Prospect Street, Prospect Avenue, MD 58 west of I-81, Industrial Park). IG - Industrial General. Allows our most intense industrial operations (e.g., E. First Street, Mitchell Avenue, old railroad properties, Hagerstown Business Park, land behind South End shopping center, etc.). INST - Institutional . A zone reserved for public and not-for-profit uses on more significant properties and campuses, such as parks, schools, cemeteries, and medical facilities. PUD - Planned Unit Development. An overlay zone that is approved with a plan of development (through a public hearing process) that allows for mixing of residential densities and a limited amount of commercial uses. Hager’s Crossing is a PUD. This can no longer be requested. PUD-V - Planned Unit Development. An overlay zone that is approved with a plan of development (through a public hearing process) for mixed use developments designed in a village format on a central green, and includes a mixture of commercial uses and varying housing types. Overlay must be at least 10 acres. PUD-R - Planned Unit Development. An overlay zone that is approved with a plan of development (through a public hearing process) for mixed use developments designed on a "main street" design, mixing commercial, light industrial and varying housing types, including "main street" buildings with upper level apartments, that is the focal point of the surrounding area. Overlay must be at least 15 acres in area.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
