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28-30 W Washington St 12,390 SF 75% Leased Office Building Hagerstown, MD 21740 $865,000 ($69.81/SF) 10.54% Cap Rate
Investment Highlights
- Elevator access and front/rear staircases
- Located next to the University of Maryland Hagerstown campus
- Walk Score of 91 – a true walker’s paradise
- Just one block from the new multi-use stadium and three public parking decks
Executive Summary
Located in the heart of downtown Hagerstown, the City Square Office Building at 28–30 W Washington Street offers a prime investment opportunity in a revitalized urban corridor. This Class C, four-story office building spans 12,390 square feet on a 0.09-acre lot, and was originally built in 1900 with a full renovation completed in 2019.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Building Size
12,390 SF
Building Class
C
Year Built/Renovated
1900/2019
Price
$865,000
Price Per SF
$69.81
Cap Rate
10.54%
NOI
$91,185
Percent Leased
75%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
3,320 SF
Building FAR
3.16
Lot Size
0.09 AC
Opportunity Zone
Yes
Zoning
CCMU - City Center Mixed Use
Amenities
- Smoke Detector
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 25-011090 | Total Assessment | $498,200 (2025) |
| Land Assessment | $50,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $448,200 (2025) | Tax Year | 2022 |
Property Taxes
Parcel Number
25-011090
Land Assessment
$50,000 (2025)
Improvements Assessment
$448,200 (2025)
Total Assessment
$498,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2022
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28-30 W Washington St
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