Hagerstown Mixed Use: 62 – 64 W Antietam St

Hagerstown Mixed Use 62 64 W Antietam St Retailer Map

62 West Antietam Street, Hagerstown, MD, USA

Sands Investment Group is pleased to exclusively offer for sale a 8,175 SF renovated mixed-use property in the heart of downtown Hagerstown. This asset presents a compelling value-add investment opportunity.

The building underwent substantial renovations in 2021, delivering modernized interiors and improved functionality while still offering meaningful upside through lease-up and rent optimization. Currently just over 86% occupied, investors have the opportunity to increase cash flow through stabilization and marking rents to market.

Strategically located 1 block from the newly constructed AAA baseball stadium and adjacent to ongoing entertainment and mixed-use development, the property is positioned to benefit from continued public investment and downtown revitalization efforts. With mixed-use zoning, proximity to major commuter corridors, and improving occupancy trends, this asset offers both near-term income growth and long-term appreciation potential.

Renovated Mixed-Use Asset with Diversified Revenue Streams: Renovated in 2021, the property features 11 1BR/1BA units, 1 2BR/1.5BA unit, and a ground-floor retail suite that provides diversified cash flow and reduces reliance on a single asset class. Modernized interiors minimize near-term capital expenditure requirements.
Compelling Value-Add Through Lease-Up: Currently 77% occupied, the property offers an immediate opportunity to increase net operating income through lease-up and operational stabilization.
Embedded Rent Growth Opportunity: Below-market in-place rents provide the ability to capture market-to-market upside as leases roll. Continued downtown revitalization, walkability, and proximity to entertainment amenities support sustained residential demand and long-term rental growth.
Strategic Mid-Atlantic Location with Tri-State Connectivity: Located at the intersection of Maryland, Pennsylvania, and West Virginia, Hagerstown offers exceptional regional access via I-81, a major north-south freight corridor, and I-70, providing direct connectivity to Baltimore and Washington, D.C. Positioned within approximately 70 to 90 minutes of both metros, the city serves as a key logistics, distribution, and employment hub while benefiting from significantly lower operating costs than core DMV markets.
Growing Industrial and Employment Base: Hagerstown continues to attract investment in logistics, warehousing, light manufacturing, and last-mile distribution due to its strategic location and competitive cost structure. Expansion across these sectors supports job creation, strengthening demand for multifamily housing, neighborhood retail, and local services.
Catalyst Location in Revitalizing Downtown: The property is positioned 1 block from Meritus Park, Hagerstown’s new AAA baseball stadium, and adjacent to ongoing mixed-use and entertainment development. Continued investment, including nearby retail expansions such as Hagerstown Premium Outlets, along with growing medical, dining, and service-oriented businesses, reinforces the area’s long-term economic momentum.
Affordability Advantage Relative to the DMV: Compared to Washington, D.C., Northern Virginia, and suburban Maryland, Hagerstown offers substantially lower housing costs, commercial rents, and land values. This affordability continues to attract residents, employers, and investors seeking higher yields, positioning the market for long-term appreciation and cap rate compression as growth expands outward from the Washington-Baltimore corridor.