220 Summit Ave, Hagerstown, MD 21740 For Sale

Rare opportunity to acquire a stabilized 45 unit mixed residential and commercial investment portfolio in Hagerstown, Maryland. The portfolio includes a diversified mix of residential apartments, commercial spaces, garage income, and a long-standing master lease component. As of May 20, 2026, the portfolio is 95.56% occupied, with 43 of 45 units occupied.

A key strength of the offering is the master lease with R&R Recovery at 224 to 226 Summit Avenue. R&R Recovery has been a tenant for more than 15 years and recently signed a new 5-year lease term. Under the master lease structure, the owner receives rent regardless of vacancy, while R&R Recovery is responsible for maintenance and unit turnover.

The portfolio is also anchored by 792 to 812 Frederick Street, a strong mixed-use asset with residential apartments and established commercial tenants operating under NNN lease structures. Reimbursement income includes CAM, insurance, taxes, and utilities, helping reduce ownership expense exposure and support a more predictable income stream.

The portfolio offers investors scale, diversified income, strong occupancy, and long-term cash flow in the Hagerstown market.