32 Residential Units, two Commercial Units and a Leasing Office. Residential Occupancy rate is 94%. One of the two commercial spaces is leased (5 Yr Lease) that just began. In the heart of downtown Hagerstown, just blocks away from the minor league baseball stadium (Meritus Park Stadium) on the same… Read More block as the Maryland Theatre and just across the street from the Meinelschmidt Distillery, Bulls and Bears and Schmankerl Stube Restaurant, as well as the Washington County Public Library (diagonally across the intersection). High vehicular and foot traffic, as the property is in downtown Hagerstown. Projected Cap Rate - 8.4% The current owner has had 2 grant applications approved, and a prospective buyer can seek many more. The Georgian is located in the following: Qualified Opportunity Zone: You can look up 55 S Potomac St here to verify City of Hagerstown Arts & Entertainment District property tax incentive: City of Hagerstown Main Street Grant Area. City of Hagerstown Partners in Economic Progress (PEP) Program zone City of Hagerstown City Center Redevelopment Grant zone. Downtown Historic District. (local/state and NHR federal) Enterprise Zone: City of Hagerstown CC-MU area Read Less
Courtesy of Matthew Hilldoerfer, Mr. Lister Realty 410-486-4504
Listing Snapshot
Days Online
276
Last Updated
Property Type
Commercial
Square Ft.
19,600
Lot Size
0.11 Acres
Year Built
1900
MLS Number
MDWA2029678
Additional Details
Building
Built in 1900, Built in 2023 (effective), Construction Materials: Stone
Cooling
Multi Units
Accessibility Features
Elevator
Heating
Baseboard - Electric
Lot
0.11 acres
Security Features
Exterior Cameras, Fire Detection System, Main Entrance Lock, Monitored
Sewer
Public Sewer
Taxes
Annual Amount: $26,464, Year: 2024, Zoning: CCMU
Utilities
Water Source: Public
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