19833 Leitersburg PikeHagerstown, MD 21742

Property Details for 19833 Leitersburg Pike

Year built

1951

Lot size

3.44 AC

Property size (Sq ft)

22,470 SF

Zone code

BG

Property type

Office buildings

APN

09-007695

APU

9007695

Description

This exceptional value-add investment opportunity presents a 22,470 square foot multi-tenant office and flex building situated on a 3.44-acre lot in Hagerstown, Maryland. The property, located at 19833 Leitersburg Pike, zip code 21742, boasts a 95% occupancy rate, providing immediate cash flow. The building is zoned BG and offers significant potential for further value enhancement. Recent improvements include a new roof, HVAC system upgrades, and parking lot repairs and resurfacing, minimizing immediate capital expenditure needs. The flexible space caters to a variety of business needs, making it an attractive option for diverse tenants. The substantial lot size presents additional development opportunities, allowing for expansion or the addition of complementary structures. This property represents a stable investment with strong potential for future growth and return. The building's prime location in Hagerstown, Washington County, MD offers easy access to major transportation routes and a thriving local economy. This is a rare opportunity to acquire a well-maintained, high-occupancy commercial property with significant upside potential. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $6,061,170

  6.5%

  $5,594,930

  7%

  $5,195,290

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,492,650

  Geo Method

  $4,492,650

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,820,000

  Retail / Commercial

  $5,586,630

  Mixed-Use / Specialty

  $5,596,820

  Hospitality / Lodging

  $4,145,400

  Institutional / Educational

  $5,829,200

  Residential Income

  $6,820,160

  Multifamily

  $8,012,830

  Automotive / Energy

  $4,996,450

  Parking / Income-Based Land

  $1,694,470

  Restaurant / Food Service

  $2,975,200

  Healthcare / Senior Housing

  $5,708,560

Location Insight

City

Hagerstown

County

Washington

State

Maryland

Latitude

39.6803

Longitude

-77.6777

CBSA code

25180

CBSA name

HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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