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Property profile & analytics
OFF-MARKET
Estimated value
$175,000
Investment properties
38 Washington St Hagerstown, MD 21740-5606
Trust Owned
7-yr Hold
~
Est. High Equity
Property ID
US40-1428407
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
BRICK
Total area
7,397 SF
Lot
0.09 ac (3,920 SF)
Zoning code
CCMU
APN
22-016059
UPID
US40-1428407
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
-
Tattoo Sam's Tattoo & Piercing Shop
-
MINISTRY TATTOO Tattoo & Piercing Shop
-
Sam's Sealcoating General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$470k
Blend (final)
Blend
$175k
Owner & transaction history
Naval Engineers R 3840 Land Trust · 7 yrs held
Naval Engineers R 3840 Land Trust
since 2019
7 recorded transactions
Zoning & alternative use
CCMU · 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
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$930,000
Current use
Blend value · Realmo final
$175k
Range $158k – $193k · ±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
$24 / 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
$2,555
Tax year 2023
Assessed value
$279,267
Assessed 2023
Previous assessed
$279,100
+0.1% YoY
Effective rate
0.91%
On assessed value
Land market value
$60,000
Improvement market value
$219,600
Total market value
$279,600
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Construction
BRICK
Heating
STEAM
Stories
3
Units
8
Total area
7,397 SF
Lot
0.09 ac (3,920 SF)
Zoning code
CCMU
APN
22-016059
UPID
US40-1428407
Jurisdiction
WASHINGTON
Zoning & alternative use
CCMU · Hagerstown, MDZoning CCMU · permitted uses
CCMU · Hagerstown, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$930,000
COMMERCIAL (GENERAL) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
BRICK
Heating
STEAM
Stories
3
Units
8
Lot
0.09 ac
Current owner
From public records · entity-resolved
Naval Engineers R 3840 Land Trust
Trust
Mailing address
19813 LEITERSBURG PIKESTE306, HAGERSTOWN, MD 21742-1445
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2025
—
Sheila D Miller
—
Deed
related
$674,532 · Patriot FCU
Dec 19, 2019
—
Engneers,n Ret 3840 Land Trust
—
Deed
related
$360,000 · Revere Bk
Apr 12, 2019
$220,000
Naval Engineers R 3840 Land Trust
Vsd 2016-1 Trust 1 LLC
Grant Deed
—
Apr 12, 2019
$385,000
Vsd 2016-1 Trust 1 LLC
Gallagher Brian T|38-44 E Washington Street LLC
Trustees Deed
related
—
May 12, 2011
$440,100
Freedom Equity LLC
Citibank NA
Grant Deed
related
$300,000 · Centra Bank INC
Oct 27, 2008
$875,000
Dcs Properties LLC
38-44 East Washington Street L
Grant Deed
—
Dec 14, 1998
$300,000
Kirk D Mullenix
Tusing,charles L & Eileen L
Grant Deed
related
$225,000 · First United Bk/adams
—
—
Engneers,n Ret 3840 Land Trust
—
Deed Of Trust
related
$360,000 · Revere Bk
—
—
Kirk D Mullenix
—
Deed Of Trust
related
$302,000 · Waypoint Bank
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.
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