521 Washington St Hagerstown, MD 21740-5018
This exceptional investment property at 521 W Washington Street, Hagerstown, MD, presents a unique opportunity to acquire a thriving multi-revenue stream business. The 2,222 square foot building sits on a 0.3-acre lot and is currently operating as a fully functional laundromat equipped with 18 washing machines and 17 dryers, generating consistent income. Adding to its profitability, the property also houses a check-cashing business and a convenience store, further diversifying revenue streams. The ample parking accommodates over 15 vehicles, ensuring customer convenience. Recent improvements include a complete plumbing overhaul and a fresh coat of paint throughout the building, minimizing immediate maintenance needs. The seller is offering flexible financing options, making this a highly accessible investment. This turnkey operation requires minimal owner involvement, making it ideal for passive income seekers or experienced investors looking to expand their portfolio. The strong cash flow potential, combined with the multiple income streams and recent upgrades, makes this a truly compelling investment opportunity in a desirable Hagerstown location. The property's size and location offer significant potential for future growth and expansion. Don't miss this chance to acquire a proven, profitable business with significant upside.
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Hagerstown Laundromat (Bike/Boat/Book/etc) Store
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Western Union Bank Credit Union
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
CL · Hagerstown, MDHagerstown. Always verify with local authorities before improvements.
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.