Hagerstown, MD
Commercial Real Estate Market Trends & Data

$285 Avg asking sale price
$15 Avg asking lease rate
22,612 SF Avg unit lease size
43,999 SF Avg building size for sale
7.26% Average cap rate

Hagerstown's Demographic Profile

Hagerstown has 18,711 households and a median income of $43,773, providing context for rent absorption and tenant demand across retail and multifamily assets. A +2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 45,814
# Households 18,711
Median age 39
Median household income $43,773
Avg household size 2.0
Renter-occupied housing units 10,547
5-year population change +2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Hagerstown, MD

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Hagerstown $164 16,248 SF 8.53%
Rouzerville $216 2,888 SF 6.00%
Waynesboro $216 2,888 SF 6.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Hagerstown $345 12,852 SF
Clear Spring $125 1,112 SF
Shepherdstown $1,709 2,500 SF
Blue Ridge Summit $197 9,100 SF
Martinsburg $445 17,325 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Hagerstown $175 18,870 SF 8.53%
Waynesboro $141 9,546 SF 7.85%
Harpers Ferry $321 2,894 SF 11.30%

Commercial Properties For Sale in Hagerstown

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

16715 National Pike

Hagerstown, MD 21740

  • 2.45 AC Lot
  • 1 Commercial Lot
  • $725,000
For Sale

344-358 Mill St

Hagerstown, MD 21740

  • 4,500 SF Office Building
  • $595,000
For Sale

228 E Washington St

Hagerstown, MD 21740

  • 2,048 SF Office Building
  • $275,000
For Sale

Concerted Care Group | Hagerstown MD

Hagerstown, MD 21740

  • 9,800 SF Retail Building
  • 6.60% Cap Rate
  • $6,620,000
For Sale

Prime Development Opportunity

Hagerstown, MD 21740

  • 2.70 AC Lot
  • 1 Commercial Lot
  • $1,000,000
For Sale

7 Unit Multi-Family Property

Hagerstown, MD 21740

  • 4,614 SF Multifamily
  • $789,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Multifamily Properties For Sale in Hagerstown

For Sale

The Georgian on South Potomac

Hagerstown, MD 21740

  • 19,600 SF Multifamily
  • 8.53% Cap Rate
  • $3,840,000

Regional Demographic Comparison

This comparison places Hagerstown alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Hagerstown or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Hagerstown 45,814 18,711 39 $43,773 2 10,547 2%
Smithsburg 2,817 984 37 $92,979 3 260 -1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Hagerstown, MD and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Hagerstown

View All Commercial Real Estate For Sale in Hagerstown
Is Hagerstown a good market for a first-time commercial real estate investor?

Hagerstown offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Hagerstown?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Hagerstown. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Hagerstown?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Hagerstown. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Hagerstown compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Hagerstown. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Hagerstown acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Hagerstown, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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