Property profile

824 Pennsylvania Ave Hagerstown, MD 21742

OFF-MARKET
Drive through restaurants
Property ID
US40-0339088
500 SF 0.26 ac lot Built 2004
Individually Owned 24-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 2,100 square foot retail and mixed-use property located at 824 Pennsylvania Avenue in Hagerstown, Maryland. Currently operating as a laundromat and wash-and-fold business, this single-story building sits on a 0.26-acre lot and boasts a 95% occupancy rate, demonstrating strong existing income potential. The property is zoned Commercial General, offering flexibility for a variety of uses and expansion opportunities. The existing business presents a value-add opportunity for a new owner to increase operating days and hours, maximizing revenue streams. There is also the potential to lease additional retail space within the building, further enhancing profitability. The property's prime location in Hagerstown, Maryland, within Washington County, zip code 21742, ensures high visibility and accessibility to a substantial customer base. This is an ideal acquisition for investors seeking a stable, income-generating asset with significant upside potential. The property's strong performance and flexible zoning make it a compelling investment in a thriving Maryland market. Serious inquiries are encouraged to explore the full potential of this remarkable opportunity.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 2004
Construction BRICK
Total area 500 SF
Lot 0.26 ac (11,323 SF)
Zoning code CG
APN 21-005770
UPID US40-0339088

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

Location

824 Pennsylvania Ave Hagerstown, MD 21742-3104
Hagerstown metro Census 200 HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$115k

Owner & transaction history

since 2001
2 recorded transactions
2001
$158,000
1969
Price N/A

Zoning & alternative use

CG · Hagerstown, MD
Zoning description

The purpose of this zoning district is to provide locations for businesses of a general nature to serve the community.

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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