Property profile

521 Washington St Hagerstown, MD 21740

OFF-MARKET
Individual retail properties
Property ID
US40-2396663
896 SF 0.3 ac lot Built 1900
Individually Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Individual retail properties
Use group LAUNDROMAT (SELF-SERVICE)
Year built 1900
Construction BRICK
Total area 896 SF
Lot 0.3 ac (13,034 SF)
Zoning code CL
APN 03-002357
UPID US40-2396663

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store
  • Bank Credit Union

Location

521 Washington St Hagerstown, MD 21740-5018
Hagerstown metro Census 900 HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$390k

Owner & transaction history

since 2025
Last sale
$415,000
2 recorded transactions
2025
$415,000
2004
$150,000

Zoning & alternative use

CL · Hagerstown, MD
Zoning description

CL - Commercial Local. Low intensity neighborhood commercial area (e.g., corner of Cleveland and Jefferson, south side of Washington Square, west side of Pennsylvania Avenue below cemetery, etc.). CG - Commercial General…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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