Hagerstown, MD 21740 500-508 Salem Avenue

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Presented By: RG Realty, Inc.
  • MLS# MDWA2027270
  • 02/25/2025
  • Request Tour
  • Request Info
  • SQFT • 9,165

Home Details

Turnkey Investment Real Estate & Business with On/Off class D Liquor License! Discover a true value-add investment with Harmans Tavern, a well-established bar accompanied by a Class D Liquor License and income-producing residential and retail units. Spanning nearly 10,000 sq. ft., this mixed-use property offers eight total units, including retail space and spacious apartments all currently occupied by long-term tenants. Untapped Income Potential! Rents have remained significantly below market value, as the current owner has never raised them. This presents a prime opportunity for immediate cash flow growth. The units are well-maintained, and with strategic updates, this property could see substantial appreciation. Whether you're looking to expand your portfolio or capitalize on the established business and rental income, this property is a rare find. Schedule your private tour today!
Presented By: RG Realty, Inc.

Interior Features for 500-508 Salem Avenue

Other Interior Features

Central Air Y/NNo
Heating FuelElectric
Heating Y/NYes
Hot WaterElectric

General for 500-508 Salem Avenue

AccessibilityNone
Business TypeApartment Building, Other/General Retail, Restaurant/Bar
CityHAGERSTOWN
Construction MaterialsBlock, Brick
Cool FuelElectric
CoolingNone
CountyWASHINGTON
DirectionsGPS
HeatingBaseboard - Electric
Lot Size Square Feet11240.00
Lot Size UnitsSquare Feet
ModificationTimestamp2025-02-25T13:48:59
MunicipalityHagerstown
New ConstructionNo
Number Of Units Total8
OwnershipFee Simple
PossessionSettlement
Price Per Sq Ft Total AG73.65
Property SubtypeFive Or More Units
Property TypeCommercial Sale
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Tax Annual Amount5235.0
Tax Assessed Value273100.0
Tax Year2024
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1900
Year Built SourceEstimated
ZoningRMED

Exterior for 500-508 Salem Avenue

Building Area Total9165.00
Car Parking Spaces3
Land Assessed Value56200.00
Land Use CodeC
Lot Size Acres0.26
Lot Size SourceAssessor
Navigable Water Y/NNo
Total Loading Docks0
Total Parking Spaces3
Type of ParkingOn Street, Driveway
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Rachel Shepherd

Price $675,000
MLS#MDWA2027270
List Date 02/25/2025
Property Type Commercial
Phone 703.929.4729
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