Seeking Advice and Potential Buyers for Maryland Historical Property in Hagerstown MD

[Matthew Ginsberg]

Hello Bigger Pockets Community,

We own a property located at 205-207 South Potomac Street, Hagerstown, MD, 21740. This is a Maryland Historical Property, zoned for residential high density, with specific limitations on its usage due to its zoning.

The property is massive, offering 8,276 square ft of space, including 5,445 square ft of finished area, and it features a substantial driveway. While the property does require renovation, its location just a block from the new baseball stadium adds significant value and potential.

Our challenge, and the reason we’re seeking advice or considering a sale, is that we are facing some hurdles. Navigating the zoning requirements, dealing with Maryland Historical Trust limitations on what can and can’t be done to the property, and the financial burden of renovating the property to meet these standards have left us trying to figure out the best strategy so the property doesn’t just sit unused.

If we decide to sell, we anticipate pricing it at around $70-$80 per square foot, which is an incredible deal for a property of this nature.

We’re reaching out to see if anyone here might know of potential buyers interested in this unique opportunity. Additionally, we are open to exploring other options beyond selling, so any advice or alternative strategies from those with experience in similar properties would be greatly appreciated.

Thank you in advance for any guidance or connections you can provide.

Best regards,

Matt Ginsberg