Property summary
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
VerifiedCap rate & NOI
Current use
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(Bike/Boat/Book/etc) Store
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Bank Credit Union
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
CL · Hagerstown, MDCL - 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…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CL in Hagerstown, MD.
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