521 Washington StHagerstown, MD 21740

Property Details for 521 Washington St

Year built

1900

Construction

BRICK

Lot size

0.30 AC

Property size (Sq ft)

896 SF

Zone code

CL

Property type

Individual retail properties

APN

03-002357

APU

3002357

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $241,333

  6.5%

  $222,769

  7%

  $206,857

• Comparable approach

  Method

  Valuation

  Relative Method

  $186,312

  Geo Method

  $186,312

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $431,450

  Mixed-Use / Specialty

  $223,175

  Hospitality / Lodging

  $165,300

  Office

  $223,100

  Institutional / Educational

  $232,441

  Residential Income

  $271,956

  Multifamily

  $319,515

  Automotive / Energy

  $199,236

  Parking / Income-Based Land

  $67,567.70

  Restaurant / Food Service

  $118,637

  Healthcare / Senior Housing

  $227,631

Location Insight

City

Hagerstown

County

Washington

State

Maryland

Latitude

39.646

Longitude

-77.7301

CBSA code

25180

CBSA name

HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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