792-812 FREDERICK, SUMMIT, BALTIMORE ST Hagerstown, MD 21740
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDWA2033410
Year Built 1989
Tax Year 2025
Lot Size 0.402 Acres
Acres 0.4
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
The residential component consists primarily of one-bedroom apartments, townhouses, and cottages, many of which are leased at below-market rents, providing clear value-add potential through measured rent adjustments. Several properties feature separate electric meters, private parking, garages, and carports, all supporting long-term tenant stability and efficient operations.
The commercial portion includes a flex property with warehouse and office space, additional warehouse units, and a partially equipped drive-thru restaurant with multiple curb cuts, pylon signage, and outdoor seating. This diverse commercial mix enhances income stability while offering flexibility for a range of users.
The portfolio is strategically located near Hagerstown City Park and the upcoming multi-use sports and events stadium, positioning it well for increased demand, rental growth, and long-term appreciation. Many units have been occupied long term with limited recent rent increases, presenting a strong opportunity for future income growth.
Several buildings have benefited from recent capital improvements, including roofs, flooring, kitchens, mechanical upgrades, plumbing and electrical work, HVAC enhancements, waterproofing, safety upgrades, and common-area improvements, allowing for a smooth transition to new ownership.
The portfolio is stabilized and produces strong in-place income, with professional management in place and controlled utility expenses. Operations are straightforward, making this an attractive acquisition for seasoned investors or groups looking to scale into a larger, diversified portfolio.
This is a rare opportunity to acquire a sizable, income-producing mixed-use portfolio in a growing Hagerstown location, offering immediate cash flow with meaningful upside potential.
Location
State MD
County Washington
Zoning CG
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 20.0
Water Access N
Accessibility None
Total Parking Spaces 20
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Middle Schools E. Russell Hicks School
High Schools South Hagerstown Sr
School District Washington County Public Schools
Others
Tax ID 2217006924
Ownership Fee Simple
Special Listing Condition Standard
Team Leader & Real Estate Agent | License ID: 507142
+1(410) 409-5147 | missy@millerteam.com