861-879 Commonwealth Ave

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale a 53,379-square-foot office and manufacturing campus located in Hagerstown, Maryland. Situated on 7.01 acres, the property comprises two industrial buildings totaling 42,000 square feet and a separate 11,379-square-foot, two-story office building.

Approximately 93% of the property is leased to Electromet Corporation under two absolute NNN leases expiring November 30, 2028, and February 28, 2029. Electromet has confirmed that it will vacate upon expiration, providing a buyer with near-term income and a defined timeline for future occupancy or re-leasing.

The offering is well suited to either an owner-user or an investor. Based on a January 1, 2027 closing, the existing leases would generate approximately $1.02 million of scheduled base rent through expiration. An owner-user can acquire the property today, benefit from more than two years of in-place income and plan an orderly transition into all or a portion of the campus. An investor can use the same period to market the individual buildings and execute a phased lease-up strategy.

The campus provides approximately 67 parking spaces and three functionally distinct buildings. 861 Commonwealth Avenue is a 16,000-square-foot, air-conditioned manufacturing building constructed in 2019, featuring a 16-foot 9-inch clear height, heavy electrical service, reinforced floors and two drive-in doors. 871 Commonwealth Avenue is a 26,000-square-foot manufacturing and warehouse building offering clear heights from 13 feet 10 inches to 17 feet 2 inches, heavy electrical service, reinforced floors and four drive-in doors. 879 Commonwealth Avenue is an 11,379-square-foot office building with at-grade access to both floors, a modern build-out and the ability to accommodate two tenants.

Hagerstown benefits from its strategic Mid-Atlantic location and access to Interstates 70 and 81. The property’s individual building sizes appeal to a broad range of manufacturers, contractors, service providers and other industrial users. Its multiple-building configuration also allows a future buyer to occupy the entire campus, phase its occupancy or lease the buildings separately.

Electromet is a precision manufacturer serving the defense industry, with more than 50 years of operations in Hagerstown. The company manufactures custom enclosures used in mission-critical applications supporting programs and prime contractors that include BAE Systems and General Dynamics. Its existing leases provide durable near-term cash flow while buyers prepare for the property’s next phase.

Investment Highlights

• Roughly 2.5 Years of In-Place Income with a Defined Transition Timeline
• 861 Commonwealth is 2019-Built with 16’9” Clear Height and Conditioned
• Office Building Offers Executive-Level Finishes & Both Levels are At-Grade
• Limited Supply of Small/Mid-Size Buildings & Strong Local Labor Base
• Regional Connectivity | 7-Min. to I-70, 11-Min. to I-81, & 4-Min. to Rt-40
• Desirable Industrial Market with Low Vacancy & Brand Name Neighbors