861-879 Commonwealth Avenue — Sale in Hagerstown, MD

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Hagerstown, MD 21740
  • Year built: 1960

Photos

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Investment Figures

Cap rate
12.96%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been exclusively retained to offer for sale a 53,379-square-foot office and manufacturing campus located in Hagerstown, Maryland. Situated on 7.01 acres, the property comprises two industrial buildings totaling 42,000 square feet and a separate 11,379-square-foot, two-story office building. Approximately 93% of the property is leased to Electromet Corporation under two absolute NNN leases expiring November 30, 2028, and February 28, 2029. Electromet has confirmed that it will vacate upon expiration, providing a buyer with near-term income and a defined timeline for future occupancy or re-leasing. The offering is well suited to either an owner-user or an investor. Based on a January 1, 2027 closing, the existing leases would generate approximately $1.02 million of scheduled base rent through expiration. An owner-user can acquire the property today, benefit from more than two years of in-place income and plan an orderly transition into all or a portion of the campus. An investor can use the same period to market the individual buildings and execute a phased lease-up strategy. The campus provides approximately 67 parking spaces and three functionally distinct buildings. 861 Commonwealth Avenue is a 16,000-square-foot, air-conditioned manufacturing building constructed in 2019, featuring a 16-foot 9-inch clear height, heavy electrical service, reinforced floors and two drive-in doors. 871 Commonwealth Avenue is a 26,000-square-foot manufacturing and warehouse building offering clear heights from 13 feet 10 inches to 17 feet 2 inches, heavy electrical service, reinforced floors and four drive-in doors. 879 Commonwealth Avenue is an 11,379-square-foot office building with at-grade access to both floors, a modern build-out and the ability to accommodate two tenants. Hagerstown benefits from its strategic Mid-Atlantic location and access to Interstates 70 and 81. The property’s individual building sizes appeal to a broad range of manufacturers, contra

Market Context

This industrial in Hagerstown, MD is listed for sale. It is offered at an approximate 13.0% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 1960. Compare it against other industrial listings for sale in Hagerstown, MD — view the full market.

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