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MLS: #MDWA2040166, Listed By: Andrew Peters, Burch Real Estate Group, LLC, Source:Bright MLS

135 E Franklin Street

HAGERSTOWN, MD 21740
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Bed 5

Bed

Bath 0

Bath

SqFt12,645

Sqft

Acres0.29

Acre(Lot)

Outstanding value-add mixed-use investment opportunity in downtown Hagerstown! 135-137 E Franklin Street provides a unique combination of existing commercial income and substantial upside for an investor, developer, or owner-user looking to complete the renovation and unlock the property's full potential. The property is located in Hagerstown's CC-MU City Center Mixed-Use zoning district and includes approximately 11,182 square feet in the main building plus an additional 1,708-square-foot garage/shop building, situated on approximately 12,645 square feet of land. The existing and proposed mix of retail, shop, and residential apartment uses aligns with the mixed-use configuration analyzed in the property's prior commercial appraisal. The property already generates income from two occupie d commercial/shop spaces. One smaller mechanic/shop space is currently rented for $800 per month, while the larger rear mechanic/shop space is rented for $2,500 per month, providing $3,300 per month in current rental income while a new owner continues the redevelopment. Along the E Franklin Street frontage are two additional vacant commercial storefront spaces ready for completion and future occupancy. Previous plans contemplated approximately 831 SF and 1,098 SF retail spaces, providing additional commercial leasing or owner-user potential. All approved by the city! The upper levels provide another major value-add opportunity. Architectural and engineering plans were prepared for three residential apartments, with framing and portions of the electrical work already completed. The plans contemplate one 1-bedroom unit and two 2-bedroom units, with planned unit sizes of approximately 615 SF, 806 SF, and 851 SF. The engineered drawings show the three planned apartments along with kitchens, living areas, bathrooms, mechanical spaces, closets and additional attic-level bedrooms. A significant amount of preliminary work has already been completed, including interior demolition, framing, portions of electrical work, floor reinforcement, and roof repairs performed during the earlier renovation project. The property is being sold in its current condition, giving the next owner the opportunity to finish the project to their own specifications and investment strategy. Architectural/engineering plans will be included with the listing for buyer review. With existing rental income, two additional commercial spaces, three planned residential units, substantial square footage and significant renovation upside, this property offers an uncommon opportunity at this price point. Bring your contractor, bring your vision, and finish what has already been started at 135-137 E Franklin Street. 7 units for under 400K won't last long!

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Detail Ic Property Details

Property Type : Residential Income

Price : $399,900

AD Id : 91436483

MLS Id : MDWA2040166

Beds : 5

Lot Size : 0.29 Acre

Living Area Size : 12,645 Sq. Ft

Tax Amount : $3,445

Year Built : 1940

County : WASHINGTON

Subdivision: None Available

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Feature Features

  • Bedroom Information

    Total beds: 5
  • Interior Features

    Appliances: Electric Water Heater
  • Heating & Cooling

    Has Heating: Yes Heating: Propane, Steam Cooling: None

  • Building Information

    Year Built: 1940 Building Area Total: 12645 Construction Materials: Brick Pool Features: None Private Pool: No

  • Lot Information

    Lot Size Acres: 0.29 Lot Size Source: Assessor Lot Size Square Feet: 12645

    Property Information

    Subdivision: NONE AVAILABLE Source Property Type: Residential Income Postal Code Plus 4: 4904 Property SubType: Multi Family Property Age: 86

  • Listing Price Information

    Listing Price: $399900

  • Tax Information

    Parcel Number: 2222015303 Tax Year: 2026 Annual Tax: $3445

  • Parking Information

    Other

  • Location Information

    Direction: Please use GPS WaterSource: Public
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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which ByOwner participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright © 2026 Bright MLS. All rights reserved.

ByOwner last updated this listing 09/28/2026 @ 06:46

MLS: MDWA2040166 LISTED BY: Andrew Peters, Burch Real Estate Group, LLC 681-252-3002 SOURCE: Bright MLS

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