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Listed by Roberto Gonzalez • RG Realty, Inc.
$899,000
Est. payment /mo
5,200 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDWA2040608
Year Built 1920
Annual Tax Amount $6,048
Tax Year 2025
Lot Size 5,200 Sqft
Acres 0.12
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Stabilized 10-Unit Mixed-Use Investment in a Federally Designated Opportunity Zone, Downtown Hagerstown
101-103 North Potomac Street, Hagerstown, MD 21740
Opportunity Zone location: The property is located in a federally designated Opportunity Zone (Census Tract 24043000400).
This 10-unit mixed-use property has 7 commercial retail/office units and 3 residential apartments, giving diversified income in a prime downtown location. It is 100% occupied and produces immediate, stable cash flow.
Value-add potential: There may be room to add one more residential or office unit on the second floor, subject to the buyer's due diligence, zoning and permitting. That space needs work, which gives a buyer a clear path to more units and more income.
Recent capital improvements: Ownership completed over $75,000 in capital improvements in 2025, including a new roof and three replacement HVAC/AC units. These upgrades materially reduce near-term capital expenditure risk and support the asset's long-term performance.
Location: Downtown Hagerstown draws strong demand from both commercial and residential tenants. The property offers visibility, walkability, and easy access to employment centers, government offices, retail and public services.
Investment summary: The property combines full occupancy, recent capital improvements, diversified tenancy and value-add upside in an established urban corridor and a federally designated Opportunity Zone. It suits investors looking for a stabilized mixed-use asset with room to grow through unit expansion, selective renovations or rent increases.
Buyers should consult their own tax and legal advisors about any Opportunity Zone benefits.
101-103 North Potomac Street, Hagerstown, MD 21740
Opportunity Zone location: The property is located in a federally designated Opportunity Zone (Census Tract 24043000400).
This 10-unit mixed-use property has 7 commercial retail/office units and 3 residential apartments, giving diversified income in a prime downtown location. It is 100% occupied and produces immediate, stable cash flow.
Value-add potential: There may be room to add one more residential or office unit on the second floor, subject to the buyer's due diligence, zoning and permitting. That space needs work, which gives a buyer a clear path to more units and more income.
Recent capital improvements: Ownership completed over $75,000 in capital improvements in 2025, including a new roof and three replacement HVAC/AC units. These upgrades materially reduce near-term capital expenditure risk and support the asset's long-term performance.
Location: Downtown Hagerstown draws strong demand from both commercial and residential tenants. The property offers visibility, walkability, and easy access to employment centers, government offices, retail and public services.
Investment summary: The property combines full occupancy, recent capital improvements, diversified tenancy and value-add upside in an established urban corridor and a federally designated Opportunity Zone. It suits investors looking for a stabilized mixed-use asset with room to grow through unit expansion, selective renovations or rent increases.
Buyers should consult their own tax and legal advisors about any Opportunity Zone benefits.
Location
State MD
County Washington
Zoning CCMU
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Heat Source Electric
Exterior
Water Access N
Accessibility None
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 2225015592
Ownership Fee Simple
Special Listing Condition Standard
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Nearby School & Business
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