251 E Antietam St 7.66 Acres of Commercial Land for Lease in Hagerstown, MD 21740

UGO Management is pleased to present this long-term ground lease or acquisition opportunity for five contiguous parcels, totaling approximately 10.89 acres, with highly flexible zoning and an existing parking garage at the heart of Downtown Hagerstown.
  
Hagerstown Core Redevelopment Portfolio benefits from a substantial pre-existing water and sewer allocation associated with the former Meritus Hospital site at 251 E Antietam Street. This allocation, confirmed by the City of Hagerstown Utilities Department, represents an embedded entitlement value of approximately $3 to $4.25 million in development readiness. This provides sufficient capacity for an estimated 200 to 250 residential units, plus retail and office space, or utility-intensive uses such as a data center. 
  
The parcels are across two zoning districts, CCMU (City Center Mixed Use) and POM (Professional Office Mixed Use). CCMU is the area’s least restrictive designation, while POM remains a flexible zoning ordinance, and Hagerstown is developing a comprehensive rezoning plan that buyers or ground lessees can influence. The site’s existing three-story parking garage is another advantage for future developments, with completed engineering reviews and inspections available to illustrate its operational readiness. An easement is also in place for a sky bridge to connect the parcels across the street. This broad potential ideally positions the portfolio to adapt to Downtown Hagerstown’s rapidly evolving landscape.
  
Downtown Hagerstown is being invigorated by recent private investments and a local government committed to supporting new developments. In 2024, the $90 million Meritus Park multi-use stadium opened, drawing more than 200,000 visitors annually. This is in addition to the new $25 million Hagerstown Field House and parking deck. Both of these major completions are about a half-mile from the portfolio parcels. Hagerstown’s 2025 City Center Plan update is now positioned to complement these new and future developments. Components of this plan include fostering downtown housing growth, drawing major corporate anchors, activating community amenities, and implementing a formal Cultural Trail Master plan to create more walkable, bikeable, and art-focused corridors. These market factors stand to significantly benefit future projects from this site. Combined with its innate flexibility and utility access, the Hagerstown Core Redevelopment Portfolio is the premier opportunity to make a statement in this dynamic downtown environment.