Welcome to Hagerstown, Washington County, Maryland:
Hagerstown anchors the Hagerstown-Martinsburg, MD-WV Metropolitan Statistical Area , which lies just northwest of the Washington-Baltimore-Northern Virginia, DC-MD-VA-WV Combined Statistical Area in the heart of the Great Appalachian Valley . The population of the metropolitan area in 2010 was 269,140. Greater Hagerstown is the fastest-growing metropolitan area in the state of Maryland and among the fastest growing in the United States. [9]
Despite its semi-rural Western Maryland setting, Hagerstown is a center of transit and commerce. Interstates 81 and 70 , CSX , Norfolk Southern , and the Winchester and Western railroads, and Hagerstown Regional Airport form an extensive transportation network for the city. Hagerstown is also the chief commercial and industrial hub for a greater Tri-State Area that includes much of Western Maryland as well as significant portions of South Central Pennsylvania and the Eastern Panhandle of West Virginia . (From Wikipedia).
Helpful Links to more information about Hagerstown, Maryland:
https://www.hagerstownmd.org/
https://www.mainstreetmaryland.org/visit/hagerstown/
https://www.washco-md.net/planning-zoning/historic-district-commission/
https://www.tripadvisor.com/LocationPhotoDirectLink-g41181-i259895222- Hagerstown_Maryland.html
https://www.premiumoutlets.com/outlet/hagerstown
https://www.hagerstowncc.edu/
https://en.wikipedia.org/wiki/Oak_Hill_Historic_District_(Hagerstown,_Maryland)
http://www.visithagerstown.com/plan-your-visit/maps/downtown-hagerstown-map 2020 Existing Structures 1007-1021 West Washington St Approximate Square Footage 1025 West Washington St 2020 Parking
Commercial Space Width Length Area Source: Estimate/Drawing Use Description 1015 Cellar 50 20 1000 Estimate Utility & Storage Only Unfinished 1015 Store 50 125 6250 Drawing Overflow Show room+ Past use: Church, store 1015 Mezzanine 18 60 1080 Measured Storage/Warehouse Past use: kid's play area (6 feet to 12 feet) 1015 Attic 16 60 960 Measured Storage (Attic) Sloped ceiling - under 6 feet 1017-1019 Store 37 130 4810 Drawing Retail/Office Office, showroom, shop 1017-1021 Cellar 50 20 1000 Estimate Only Utility Trap door access 1021 Store 26 43 1118 Drawing Retail/Office show room 1023 1st Warehouse 100 50 5000 Drawing Storage/Warehouse Food warehouse 1023 2nd Warehouse 100 50 5000 Drawing Storage/Warehouse Appliance warehouse
26218 Square Feet +/- Residential Space Width Length Area Source: Estimate/Drawing Use Description 1017 2nd Floor 40 74 2960 Drawing 3 live/work suites Mostly legacy tenancy
1021 1st Floor 26 24 624 Drawing 1 live/work suite worker housing 1021 2nd Floor 27 74 1998 Drawing 2 live/work suites worker housing
1025 Basement 28 30 840 Estimate 1 live/work suite worker housing 1025 1st Floor 28 30 876 Drawing 1 live/work suite Management Unit 1025 2nd Floor 20 30 600 Estimate 1 live/work suite housing,(sloped ceilings)
NOTE: Live/Work Suites are zoned commercial general but currently have residential rental license 7898 Square Feet +/- Parking 1007 Parking 30 150 4500 Drawing Leased Dumpster location 1015-1021 Parking 113 20 2260 Drawing Leased 1023 Parking 40 75 3000 Drawing Shared Dumpster location 1025 Parking 28 24 672 Estimate Leased
10432 Square Feet +/-
Properties International Confidential 9/26/2020 Page 1 W.Wash Budget projection20 (9)
Monthly Annual 2020 Budget Monthly Income 1015-1025 W. Washington St Scheduled $ 1 1,055 $ 132,660 100% Occupancy (100% on 9/24/20)
90% Scheduled $ 9 ,950 $ 119,394 90% Proforma ( 95% Occupancy & 5% Credit Loss) Fixed - Expenses Management $ 7 50 $ 9,000 Rent Credit - Resident Manager Property Tax $ 1 ,175 $ 14,100 City/County Prop Insurance $ 6 42 $ 7,701 Utilities $ 1 ,000 $ 12,000 Mortgage 1 Mortgage 2 $ - $ - Trash $ 6 75 $ 8,100
Subtotal Fixed Expenses $ 4 ,242 $ 50,904
Routine Repairs $ 5 00 $ 6,000 Repair Escrow $ 5 00 $ 6,000 Capital Expenes $ 2 50 $ 3,000
Total Repair Expenses $ 1 ,250 $ 15,000
Misc $ 1 0 $ 120 Commissions $ 5 0 $ 600 Appliances $ 7 5 $ 900 Inspections $ 2 5 $ 300 Total Misc Expenses $ 1 60 $ 1,920
Total Expenses $ 5 ,652 $ 67,824 Net Operating Income $ 4,298 $ 5 1,570
Updated: Feb-20
*Owner Financing Interest Only Annual Monthly 10% Down, 90% Financing at 3%, 12 months $ 28,420 2 ,368.33 15% Down, 85% Financing at 4%, 24 months $ 34,639 2 ,886.58 20% Down, 80% Financing at 5%, 5 years $ 40,274 3 ,356.18
Monthly Annual
Net Operating Income $ 4 ,298 $ 51,570
Resident Manager $ 7 50 $ 9,000
Potential Operating Income $ 5 ,048 $ 60,570 For Owner/Occupant/Operator
Interest Payment $ 2 ,368 $ 28,420 Seller Financing, 3% Option Property Taxes $ 1 ,175 $ 14,100 Insurance (Estimated) $ 6 42 $ 7,701
Payment $ 4 ,185 $ 50,221
Properties International Confidential 9/24/2020 Page 1