Hagerstown, MD

Light Business Park

Prime Development Opportunity

Hyatt-Real-Estate

PRESENTED BY

Laurie Murphy-Zuiderhof
443-756-5102
laurie@hyattcommercial.com

Treva Ghattas
301-991-6334
treva@hyattcommercial.com

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EXECUTIVE SUMMARY

Hyatt Commercial Real Estate is pleased to present Light Business Park, 9.97 acres of rough graded, pad ready commercial land located in Hagerstown, MD. The 2024 completed bridge and scenic road extension on Professional Court makes this site ideal for Medical, Bio-Tech and Life Science development. The property is minutes from Meritus Medical Center, the School of Osteopathic Medicine and the Hagerstown Community College Campus.

The land can be sub-divided to as small as 0.9 acres and or can be developed to support a building up to 145,000 SF. The Seller is willing to entertain a Fee Simple Sale, Build to Suit.

Development can begin in as quickly as 90 days. The permit and approval process in Hagerstown is currently 3 months and much of the upfront work is complete including the SWM quantity required for the lots, resulting in greater developable potential. Also, the land has access to natural gas and the storm drain system already stubbed to the site. All utilities are stubbed in nine areas in anticipation that  there could be up to 9 separately developable lots. The curbs are in place and there is the ability to blacktop from property line to property line should the land be sub-divided. There are no APFO fees (Adequate Public Facilities Ordinance) associated with the purchase and development of the property. With much of the infrastructure in place there are a multitude of development opportunities.

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PROPERTY DETAILS

Address: North side of Imperial Drive & East side of Dynasty Drive

Tax Map: Washington County Tax Map 50, Parcel 290

Land Size: 0.9 - 9.97 Acres +/-

Tax Parcel: District No. 25, Map 308, Parcel 266

Zoning: POM Professional Office-Mixed

Public Water and Sewer, Natural Gas already stubbed

Property Taxes:

City: $0.823 per $100 of Assessed Value

County: $0.948 per $100 of Assessed Value

Total: $1.771 per $100 of Assessed Value

SELECTION OF PERMITTED USES

Medical Practices & Diagnostic Laboratories

Research & Development / Laboratories

Offices, Business & Professional

Professional Scientific & Technical Services

Banks & Credit Unions

Child or Adult Day-Care

Fitness & Recreational Sports Centers

Retail that serves the businesses and employees in the development

DEVELOPMENT OVERVIEW

The Property is part of LIGHT BUSINESS PARK, a 27-acre commercial property with tenants that include Capital Women’s Care, Anne Arundel Dermatology, Maryland Perinatal Associates, Bright Eyes Childcare, Pediatric Dental Center and more. The site offers a superb chance to integrate with the current tenant mix and established patient population.

The access to a new road that extends over the Antietam Creek. A beautiful 305 foot long 3-span bridge now connects with Yale Drive and ultimately Robinwood Drive. This important road improvement relieves traffic from the congested Eastern Boulevard,

Rt 40, Jefferson Boulevard and Robinwood Drive. A 10’ wide shared use bike /running lane extends from the bridge to Yale Drive and ultimately Hagerstown Community College. The new road is projected to carry 11,000 cars daily.

One of the key features of the property is the park like setting. The global storm water management is designed to resemble a lake environment and is adjacent to Kiwanis Park, which provides community access to Antietam Creek. Features of the park include the historic Saylor House crafted using local stone, a pavilion overlooking the Antietam Creek, a monarch butterfly station, walking trails with scenic views, a bird watching area and boardwalks. The park also includes a boat ramp for kayaking and canoe launching. This unique feature gives visitors, patients, and employees within the property the opportunity to exercise enjoy the outdoors during a lunch break or a wait between appointments.

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RETAILER MAP

Click to Enlarge

MEDICAL MAP

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MERITUS SCHOOL OF OSTEOPATHIC MEDICINE

Meritus Health is officially moving forward with the accreditation and licensure process in order to open a four-year medical school in Hagerstown. This $160 million investment marks a significant commitment to medical education and the economic vitality of the region. The planned 190,000-square-foot school, coupled with student housing provisions for a portion of the anticipated 720 students, underscores the holistic approach Meritus Health is taking to fostering an environment for academic excellence and community engagement. The establishment of a four-year medical school will stimulate demand for various ancillary services and amenities. From commercial spaces to cater to student needs to residential developments to accommodate faculty and staff, the ripple effects of this project will be felt across the entire real estate ecosystem. Moreover, the prestige and draw of having a medical school in Washington County will attract aspiring medical professionals and bolster the region’s reputation as a hub for healthcare innovation and education.

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WASHINGTON COUNTY, MD

LOCATION OVERVIEW

Washington County is a perfect blend of city and country life. Residents enjoy excellent quality of life – filled with recreational, cultural and intellectual opportunities. Housing options are affordable, law enforcement and safety including emergency services are a priority, and our educational system is world class. In addition, Washington County is located in close proximity to Baltimore and Washington D.C., as a result, our community is an fusion of metropolitan culture with a rural lifestyle. We encourage you to  visit our great county – you will quickly see why we are proud of where we live, work and play.

Website: www.washco-md.net

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LIVE.

DATA & STATISTICS

151,155

Daytime Population

$280,000

Median Home Value

10,639

Number of Companies

$76,689

Median Household Income

$48,769

Per Capita Income

EDUCATION

The Barr Construction Institute

Purdue University Global

Pittsburgh Institute of Aeronautics

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MUNICIPALITIES & TOWNS
  • Town of Boonsboro
  • Town of Clear Spring
  • Town of Funkstown
  • Town of Hancock
  • Town of Keedysville
  • Town of Sharpsburg
  • Town of Smithsburg
  • Town of Williamsport
HAGERSTOWN
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WORK.

MAJOR EMPLOYERS
  • Amazon
  • Meritus Medical Center – Healthcare
  • CITI – Credit Card Processing
  • Fiserv – Credit Card Processing
  • Volvo Group Trucks – Diesel Engine and Transmission Manufacturing
  • FedEx Ground – Package Delivery
  • Hagerstown Community College – Education
  • Bowman Group, LLC – Developer
  • Merkle Response Management Group – Data Entry
  • ARC of Washington County – Social Services
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INDUSTRIES
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Manufacturing

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Transportation

3

Construction

5

Science & Tech

4

Agriculture

7

Finance

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Tourism

PLAY.

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  • Outdoor Adventure
  • Western Maryland Trail
  • Antietam Water Trail
  • Arts and Entertainment

DOWNTOWN REVITALIZATION PLAN: HAGERSTOWN MULTI–USE
SPORTS AND EVENTS FACILITY

The brand new Multi-Use Sports and Events Facility, named Meritus Park, is  $69.5 million investment in the revitalization of Downtown Hagerstown. The facility houses the Hagerstown Flying Boxcars, a new baseball team in the Atlantic League. The park is a versatile venue for sports, cultural events, and community gatherings. The new facility will serve as a catalyst for downtown revitalization, stimulating further economic growth and tourism in Washington County and western Maryland. Spanning 114,000 square feet, the property boasts two turf fields, six hard courts, a fitness area, restaurant, kids’ zone, and additional space to support its operations. Strategically situated at the former Municipal Stadium site, this venue caters to the youth and young adults of the community while also attracting sports tourism, particularly on weekends. Meritus Park is a cornerstone of the City of Hagerstown’s cultural and recreational landscape.

Hyatt-Real-Estate

PRESENTED BY

Laurie Murphy-Zuiderhof
443-756-5102
laurie@hyattcommercial.com

Treva Ghattas
301-991-6334
treva@hyattcommercial.com

DISCLAIMER

The material contained in this Offering Memorandum is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Hyatt Commercial or Property Owner or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is Hyatt Commercial listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Memorandum. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Memorandum must be returned to Hyatt Commercial. Neither Hyatt Commercial nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Memorandum may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, Hyatt Commercial and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Memorandum, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or Hyatt Commercial nor any of their officers, employees, representatives, independent contractors, or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Memorandum are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Memorandum is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and Hyatt Commercial from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.