135 E Franklin St E, Hagerstown, MD 21740
Local realty services provided by:ERA Liberty Realty
135 E Franklin St E,Hagerstown, MD 21740
$399,900
- 5 Beds
- - Baths
- 12,645 sq. ft.
- Multi-family
- Active
Listed by: andrew peters
Office: burch real estate group, llc.
MLS#:MDWA2040166
Source:BRIGHTMLS
Price summary
- Price:$399,900
- Price per sq. ft.:$31.63
About this home
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 occupied 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!...
Contact an agent
Home facts
- Year built:1940
- Subdivision & Development:NONE AVAILABLE
- Listing ID #:MDWA2040166
- Added:3 day(s) ago
- Updated:September 26, 2026 at 01:36 PM
Rooms and interior
- Bedrooms:5
- Living area:12,645 sq. ft.
Heating and cooling
- Heating:Propane - Owned, Steam
Structure and exterior
- Year built:1940
- Building area:12,645 sq. ft.
- Lot area:0.29 Acres
- Construction Materials:Brick
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$399,900
- Price per sq. ft.:$31.63
- Tax amount:$3,445 (2026)
Features and amenities
- Amenities:200+ Amp Service
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