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    OFF-MARKET
    Drive through restaurants

    824 Pennsylvania Ave, Hagerstown, MD 21742-3104

    500 SF 0.26 ac lot Built 2004
    Individually Owned 24-yr Hold ~ Est. High Equity
    Property ID
    US40-0339088
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • 21st Century Cleaners (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Chen H Huang · 24 yrs held
    Chen H Huang
    since 2001
    2 recorded transactions
    2001
    $158,000
    1969
    Zoning & alternative use
    CG · Hagerstown, MD
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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