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

    515 Burhans Blvd Hagerstown, MD 21740-5362

    • Warehouses
    • 3,456 SF
    • 0.35 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1494211
    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

    • Trivo Company Inc. / Musical Instrument Manufacturer / Musical Instrument Repair Shop

    Property Details for 515 Burhans Blvd

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.35 lot acres
    Property size
    3,456 SF
    Zone code
    CG
    Property type
    Warehouses
    APN
    03-022382
    APU
    3022382

    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
    -77.7357
    Latitude
    39.6392
    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
    $1,719
    $0.00
    $0.00
    $187,833
    -
    $61,400
    $140,100
    $201,500

    Comparable in this City

    • Value Estimation by Request
      63.00 Acres

      Label Ln

      Distribution properties • 1 SF
      0 Label Ln, Hagerstown, MD 21740
      View Details
    • Value Estimation
      $420,000
      13,920 SF

      11535 Hopewell Rd

      WAREHOUSE, STORAGE • 13,920 SF
      11535 Hopewell Rd, Hagerstown, MD 21740-2109
      View Details
    • Value Estimation
      $645,000
      16,209 SF

      11671 Hopewell Rd

      WAREHOUSE, STORAGE • 16,209 SF
      11671 Hopewell Rd, Hagerstown, MD 21740-2110
      View Details
    • Value Estimation by Request
      622,245 SF

      11935 Hopewell Rd

      WAREHOUSE, STORAGE • 622,245 SF
      11935 Hopewell Rd, Hagerstown, MD 21740-2191
      View Details
    • Value Estimation by Request
      7,200 SF

      625 Prospect St

      WAREHOUSE, STORAGE • 7,200 SF
      625 Prospect St, Hagerstown, MD 21740-3732
      View Details
    • Value Estimation by Request
      12,750 SF

      315 Prospect St

      WAREHOUSE, STORAGE • 12,750 SF
      315 Prospect St, Hagerstown, MD 21740-3780
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Hagerstown Commercial Property on 3 Acres

      Commercial property on 3 acres with multiple buildings, ample parking.
      11311 Hopewell Rd, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      63.00 Acres

      I-81 Industrial Land - Hagerstown, MD

      63-Acre Development Site near I-81. Prime Logistics Location.
      0 Label Ln, Hagerstown, MD 21740
      View Details
    • $149,900

      Hagerstown Warehouse with Loading Dock

      3,840 SF warehouse with high ceilings and loading dock.
      303 Valley Rd, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      14,750 SF

      Hagerstown Industrial Warehouse Duo

      Two buildings, 14,750 SF total. Ideal for industrial use.
      947 Commonwealth Ave, Hagerstown, MD 21740
      View Details
    • $1,500,000

      Hagerstown Industrial Property for Sale

      Industrial property available for sale in Hagerstown, Maryland.
      16817 National Pike, Hagerstown, MD 21740
      View Details
    • $1,300,000
      23,800 SF

      Hagerstown Office Building Investment

      23,800 SF Office Space, $1.3M
      530 Locust St, Hagerstown, MD 21740
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      487,000 SF

      Hagerstown Warehouse Space

      Prime Maryland warehouse, divisible space available.
      16522 Hunters Green Pkwy, Hagerstown, MD 21740
      View Details
    • $1,400 /Mo

      HAGERSTOWN Warehouse Space For Rent

      2,500 sq ft warehouse space with utilities included.
      351 S Potomac St, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      304,000 SF

      Warehouse/Distribution Center Build-To-Suit

      304,000 SF build-to-suit warehouse/distribution center available for rent.
      12118 Greencastle Pike, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      480,000 SF

      480,000 SF Build-to-Suit Warehouse

      480,000 SF build-to-suit warehouse near I-70 and I-81.
      11943 Greencastle Pike, Hagerstown, MD 21740
      View Details
    • Contact for pricing
      208,000 SF

      Class A Distribution Center

      208,000 SF Class A distribution center available for lease.
      12001 Hopewell Rd, Hagerstown, MD 21740
      View Details
    • $1,400 /Mo
      9,148 SF

      HAGERSTOWN Commercial Warehouse/Retail/Flex Space

      Versatile commercial space in prime Hagerstown location.
      39C N Mulberry St, 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.
    515 Burhans Blvd
    Hagerstown, MD 21740-5362
    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.