CAMBRIDGE EDUCATIONAL HOUSING OFFERING MEMORANDUM IOOF TEMPLE. 111 S Potomac Street Hagerstown, MD 21740
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- Terence Lambert
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1 CBG UC UG FFG U F 111 otomac treet agerstown, 21740
2 F emple C 01 xecutive ummary xecutive ummary 5 ocation ummary 6 02 roperty escription roperty Features 8 erial ap 9 arcel ap 10 roperty mages emographics emographics 14 emographic Charts dditional nformation 1st Floor orm Floor lan 18 2nd Floor Floor lan 19 3rd Floor Floor lan 20 1st Floor iping lan 21 Kitchen 22 n Case of Fire 23 agerstown City Zoning 24 City f agerstown Zoning ap 26 G C oberto Gonzalez oberto Gonzalez oberto G Gonzalez wner/ealtor ealtor/wner ic: ic: oberto@rgrealtyinc.com oberto@rgrealtyinc.com e obtained the following information above from sources we believe to be reliable. owever, we have not verified its accuracy and make no guarantee, warranty or representation about it. t is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. e include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. ou and your tax and legal advisors should conduct your own investigation of the property and transaction.
3 F emple Confidentiality and isclaimer 03 CF C: he information contained in the following offering memorandum is proprietary and strictly confidential. t is intended to be reviewed only by the party receiving it from G ealty nc. and it should not be made available to any other person or entity without the written consent of G ealty nc. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. he recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. f you have no interest in the subject property, please promptly return this offering memorandum to G ealty nc. his offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. he information contained herein is not a substitute for a thorough due diligence investigation. G ealty nc. has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence of absence of contaminating substances, CBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. he information contained in this offering memorandum has been obtained from sources we believe reliable; however, G ealty nc. has not verified, and will not verify, any of the information contained herein, nor has G ealty nc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. ll potential buyers must take appropriate measures to verify all of the information set forth herein. rospective buyers shall be responsible for their costs and expenses of investigating the subject property. G B. CC G C F. Copyright 2018 G C. ll ights eserved.
4 F emple xecutive ummary xecutive ummary ffering ummary ocation ummary F
5 F emple xecutive ummary 05 FFG U Fully enovated in 2015 CU K UBK 111 otomac treet agerstown ashington agerstown owntown FFG C $2,200,000 BUG F 15,334 C F $ F 20,592 F BU 1913 V 2015 ZG Fee imple CCU 2296 GC opulation 19,022 59,817 90, edian ncome $29,943 $45,420 $51, verage ncome $41,111 $59,433 $66,111 ssisted iving/ dult Care Facility. Completely new, Class structure. ll units are furnished Building is well maintained prinkler ystem Couple blocks from University of aryland Campus C K!!ncredible opportunity. U-K ormitory student housing, only wo blocks from University of aryland Campus. Beaux rts Classical evival 20th Century tyle. he Building formerly used as student housing is a three and two story stone and brick building consisting of 15,334 square feet (above grade) plus a full basement of 6,437 square feet. he building was constructed in 1913 and was fully renovated in 2015 according to city codes with several dormitories, new central air and heat units, mans and women's baths,showers,library,common areas, dining rooms, full Commercial kitchen with double stainless steel appliances, double industrial gas range, laundry room with full size washer/dryers, on-site maintenance office,recreational rooms and more. he building cornerstone, which also included the date indicates the property is the "F emple." ccording to ikipedia, the term "F" stands for the independent rder of dd Fellows. he subject's immediate neighborhood is that of the downtown central business district. he prime commercialized corridors within the downtown agerstown is the first two blocks of est ashington treet, the first blocks of orth otomac and outh otomac treet, the first block of est Franklin treet, and the first block of ast ashington treet. uch of this area is also located in the city's "rts & ntertainment istrict." here are approximately eight onsite parking spaces at the west elevation accessible by an alley way, and street parking is available as well as the outh otomac treet parking deck, a half block north. he basement has handicapped access via a wooden ramp from the gravel lot at the rear or west side of the property.
6 F emple ocation ummary 06 he subject property is located on the west side of outh otomac treet, three properties south of ntietam treet, directly across from the ashington County ibrary, and just over a block south of the downtown Center quare of the City of agerstown. egional ap he subject's immediate neighborhood is that of the downtown central business district. he prime commercialized corridors within the downtown agerstown is the first two blocks of est ashington treet, the first blocks of orth. otomac and outh otomac treet, the first block of est Franklin treet, and the first block of ast ashington treet. uch of this area is also located in the city's "rts & ntertainment istrict." Beyond these locations, the use for commercial/retail becomes secondary with a mixture of retail, offices, but primarily residential apartments,. etc. ithin the primary commercialized downtown area, all of the major government offices and financial institutions and to a lesser extent, the downtown retail establishments are located predominately along the est ashington treet corridor, followed by the otomac treet and est Franklin treet corridors. he general make-up of the downtown area is primarily three to five story structures design built for office or retail units on the first floor level and upper level offices and/or apartments. any of the facilities were designed for first floor retail or office use and upper level apartments. he predominance of the building structures are turn of the century or early 1900's. ome of these structures have been modernized and updated while many have not. ocator ap
7 F emple roperty escription roperty escription roperty Features erial ap arcel ap dditional aps roperty mages F
8 F emple roperty Features 08 ite escription BUG F 15,334 F 20,592 C 0.23 BU 1913 V 2015 # F C 1 ZG BUG C G C UB F 3 UB F BUG 1 CCU Flat Class B Z UB F KG C 10 C UBK K C ashington County Very alkable X K ashington C ffice/ormitory/pecial Use GBG U CC F K CUC X KG UFC F CG ixed-use commercial/apartment building with other commercial buildings and the own quare a block and a half beyond. ixed-use commercial/apartment building. ashington County Free ibrary. lley way with public, macadam paved surface parking lot beyond. es Concrete and Block sphfat Flat, ubber Grass, crubs,rees
9 F emple erial ap 09
10 F emple arcel ap 10
11 F emple roperty mages 11 taircase1 tarcaise2 2nd Floor allway tudy oom
12 F emple roperty mages 12 levator all howers 1 allway 2 Bath1
13 F emple emographics emographics emographic etails emographic Charts F
14 F emple emographics 12 U U opulation 19,527 54,364 75, otal ousing 9,398 24,449 33, opulation 19,066 58,095 86, otal ouseholds 8,008 24,055 35, opulation 19,022 59,817 90, otal ouseholds 7,914 24,545 36, opulation 19,092 60,916 92, otal ouseholds 7,911 24,915 37, frican merican 4,010 8,832 11, verage ousehold ize merican ndian wner ccupied ousing 2,606 11,977 18, sian 160 1,126 2, enter ccupied ousing 5,913 10,957 13, ispanic 1,302 3,986 5, wner ccupied ousing 2,352 12,315 20, hite 13,126 45,292 70, enter ccupied ousing 5,561 12,229 16, ther ace 458 1,415 1, Vacant ousing 1,580 3,100 3, ultiracial 1,204 2,927 3, otal ousing 9,494 27,645 40, : opulation: Growth ate 0.35 % 1.80 % 2.65 % 2022 wner ccupied ousing 2,350 12,499 20, U C enter ccupied ousing 5,560 12,416 16, Vacant ousing 1,658 3,279 3,963 less than $15,000 1,704 3,149 4, otal ousing 9,569 28,194 41,245 $15,000-$24,999 1,561 3,466 4, : ouseholds: Growth ate % 1.50 % 2.35 % $25,000-$34,999 1,206 3,002 4,204 $35,000-$49,999 1,174 3,511 4,966 $50,000-$74,999 1,125 4,508 7,047 $75,000-$99, ,924 4,684 $100,000-$149, ,583 4,480 $150,000-$199, ,625 $200,000 or greater ,071 edian ncome $29,943 $45,420 $51,660 verage ncome $41,111 $59,433 $66,111 ource: esri
15 F emple emographic Charts ousehold ncome 1 ile adius 3 ile adius 5 ile adius 2017 opulation by ace 1 ile adius 3 ile adius 5 ile adius
16 F emple emographic Charts ousehold ccupancy - 1 ile adius 2017 ousehold ncome verage and edian verage ncome edian ncome
17 F emple dditional nformation dditional nformation 1st Floor orm Floor lan 2nd Floor Floor lan 3rd Floor Floor lan 1st Floor iping lan Kitchen n Case of Fire agerstown City Zoning F
18 F emple 1st Floor orm Floor lan 16
19 F emple 2nd Floor Floor lan 17
20 F emple 3rd Floor Floor lan 18
21 F emple 1st Floor iping lan 19
22 F emple Kitchen 20
23 F emple n Case of Fire 21
24 F emple agerstown City Zoning 22 agerstown City Zoning CC-U (City Center - ixed Use) CC-U (City Center - ixed Use) the purposes of the mixed-use districts are as follows: romote development of a compact, pedestrian-oriented city center consisting of a diverse mix of residential, business, commercial, office, institutional, educational, and cultural and entertainment activities for workers, visitors, and residents. ncourage pedestrian-oriented development within walking distance of transit opportunities at densities and intensities that will help to support transit usage and city center businesses. romote the health and well-being of residents by encouraging physical activity, alternative transportation, and greater social interaction. Create a place that represents a unique, attractive, and memorable destination for visitors and residents. nhance the community s character through the promotion of high- quality urban design. ossible usage under zoning (permitted and some permitted use subject to site dev. lan approval) includes, but not limited to: ormitories for secondary and ost-secondary educational nstitutions. rtist ive-ork pace dult day-care services Child day-care services Civic and social organizations Community centers, including but not limited to cultural, civic and educational centers. Fitness and recreational sports centers. ibraries unicipal parking lots and decks. useums rimary and secondary schools, public and private rivate parks, playgrounds, community gardens. ublic administration eligious sanctuaries (church, synagogue, mosque, etc.) dministrative support services mbulatory health care services Banks, savings institutions & Credit unions Business ervice Centers and Quick rinting ervices Colleges, universities, trade and commercial schools Finance and insurance monetary authorities G ealty nc. 33 Franklin t, uite 100, agerstown ffice: Fax: mail oberto@gealtync.com
25 F emple agerstown City Zoning 23 Funeral homes ospitals, including psychiatric, substance abuse edical and diagnostic laboratories ursing homes care facilities for the elderly ffices, business and professional ffices for bonding, probation and parole of defendants in the criminal justice system utdoor utomated eller achines hotography tudios rofessional, scientific & echnical services esidential facilities with in-house professional care for 3 residents with mental and/or physical disabilities musement and recreation Banquet and reception facilities Bed & breakfast inns Catering kitchens, for preparation of food for off-site Convention and Conference Centers rinking places and brewpubs within the mart Growth & istrict otels and motels ight clubs erforming arts companies romoters of performing arts, sports events estaurants atellite imulcast (off track) Betting Facilities. heater, movie, heater performing arts Visitor elcome Center Visual and performing arts studios. Broadcasting otion picture and sound recording industries elecommunications Convenience store without fuel umps ry cleaning and laundry services air, nail and skin care stores, ear piercing services, air replacement services, permanent makeup salons, dog grooming establishments nternet publishing and Broadcasting nternet service providers. eb search portals epair and maintenance arking ots & Garages private commercial, municipal ewspaper publishers utdoor vending machines ersonal and household goods roduce stands attoo parlors and massage parlors, steam baths and saunas anning and depilatory salons Commercial Bus tops and erminals hoto finishing anufacturing, ight ndoor plant cultivation and processing facilities emporary Contractor taging Facility arehousing & torage G ealty nc. 33 Franklin t, uite 100, agerstown ffice: Fax: mail oberto@gealtync.com
26 F emple City f agerstown Zoning ap 24 K K C G V G B U U V F B C C (ndustrial estricted) K K C K C -U (ndustrial - ixed Use) G (ndustrial General) U UB C F U evision Case # ffective ate escription Z June 26, 2009 Comprehensive ezoning, hase Z February 25, 2010 Comprehensive ezoning, hase Z arch 25, 2010 dd Conversion istrict verlay Frederick treet Z ay 27, 2010 Comprehensive ezoning, hase Z ctober 28, 2010 dd ocal Conversion istrict verlay View treet Z ovember 25, 2010 Comprehensive ezoning, hase V Z January 20, 2011 dd ocal Conversion istrict verlay aryland ve Z ovember 24, 2011 dd ocal Conversion istrict verlay ocust t Z ay 24, angborn Boulevard (-U to ) Z eptember 27, First treet ezonings (1 to G and 1 to ) Z ctober 25, 2012 C evisions - ew esignations for Zoning istricts Z February 25, 2016 dd ocal Conversion verlay ashington t Z ugust 25, 2016 dd ocal Conversion verlay Jonathan t Z June 22, ashington t ( to C) rior ezoning Cases G C 0 1,000 2,000 3,000 4,000 C G G K G K C K BU C G K G U K V C UG B B C G U F F G (rofessional ffice ixed) B V F F U B C BB U B B FUK UG U F V B C C CG (Commercial General) C (Commercial egional) G B G G B U B B C G G CK F G G G K C. G C B G B 1 G B G K BV C C B C C U K F C C C C C G C V C G K K F C C B G G V K U F G G C C K U X B V B G U CU U BV C F C V BK J CU K G C C C K K KV B V U U C C K G U G B B B C B G C U B UC K C G K U F K G G U G U C K U K C K C B U C G K B C C KU C (Commercial ocal) V K C BU G U C C B V V B V Q -U (eighborhood - ixed Use) GU C B U C V BC V C CC-U (City Center - ixed Use) C K B G CK F V U KF K U (esidential - ffice) F UB J CK B V C (esidential - igh ensity) K C C V GB C K C B U BV V G BV K V C C C B V V F F C V G C G K B (gricultural ransitional) C C C C C G U B C U K K F U BU V C G V F V V V C B CU C U U C CK K C C C G K F B C U UC G V C C B V K C K U C V B C F U U U C G K CK BU G F U V B J G U C F GU (esidential - edium ensity) C V C J G K G B C G B Zoning istrict C C V V F F V Z B B V G C V lanned Unit evelopment (esidential - oderate ensity) C C C G U K C F C G B G G G B V BK G X B B V BU G G C U C C G G G J FF B V B C G V C U U andmark V B F GB B ocal Conversion istrict JFF BV JFF C FF V V B B V F K Conversion istrict B CC V B V V U V G F K V V BU C V VCK U K K V K C G V V K U U BV J K U K B C U B U U C Zoning verlay C U. rospect treet istoric istrict K C otomac/broadway istoric istrict G 81 K CU G CK Q BV B C B V C 81 C U C 8 1 G B B V C U B G C V K C C U U BUCK B G C UC K K BU C G F B C C K B C G BU C C K G B C K U C J U B V V ak ill istoric istrict V V B owntown istoric istrict C KC K G V G CK C CUB 81 U B U C C V G U istoric istrict U C 8 1 G V B C K C Funkstown Corp. Boundary V Corporate Boundary C F G C U C G ax arcel C C B V G F U BC C V C U K C treet V pproved and adopted by the ayor and City Council on ctober 26, 2010 and subsequently amended. C C C B C City of agerstown V C U B G 70 C CK C V G F F G G V K V K C C C C G 1 UB C U B. J C V K V U C G C F G C 70 V V V G B V FF G C V B V B F B CK F K K F G B V K C G V U V C C G V G B 3 K V B F B C K K G G X K G V G G V C B C G G K B GV V K U B V B C U U G G C C K C F U Zoning ap C K J. V C K G BU C G V V G C V C G C C C C V F U G V U K C C G G B U C C C BV F K B G C BU B K K V C V B C C V C U V B F J C C C C C C G C G C J B V G J F C V V G C B G C C BU F C U C V B BU /B U 40 /B U G B C V K B K V B G C U U B C V G C C V C G K K G V C V V CK C U C G B B C F C V U C B B B G V B U C G G F J C U U X G V U G C U K K C C U V C F V C G K C C U C C F C f your property is located outside the Corporate Boundary, please contact B the ashington County Zoning ffice F G at for assistance. CF G C µ ap rojection: 83 tate lane aryland F (feet) ata ources: City of agerstown, 2017; ashington County, 2016 repared By: agerstown lanning and Code dmin ept, 2/11/08 (ast ev. 6/12/17) :\gis\g\g-asterrojects\rc\zoningap24x36.mxd 5,000 Feet
27 33- F his is a confidential sales packet intended for your use in determining whether you wish to ease the property herein, otomac t he owner has used its best efforts to provide accurate information. owever, the prudent investor should not rely upon these figures, projections and assumptions, as they are subject to change. ou are encouraged to make your own calculations according to the criteria you deem appropriate. he following information, charts and projections are included for demonstration purposes only and are not in any way guaranteed. By your receipt of this brochure, you acknowledge its confidential nature and agree that you will not, directly or indirectly, disclose or permit someone else to disclose this material to any other person, firm or entity without the prior written permission of G ealty C. For more information contact oberto Gonzalez at (office) or (Cell) By at his is not an offer to sale a security. n offer can only be made through a complete rivate lacement emorandum. ou should not consider any information in these reports to be legal, business or tax advice. ou should consult your own attorney, financial advisor and tax advisor about this investment xclusively arketed by: oberto Gonzalez wner/ealtor ic: oberto@gealtync.com
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