Property Address:
100 Summit, Hagerstown MD21740
Property Type:
Multiple Use, Office, Hospitality, Restaurant
Property Size:
53,514 Square Feet Building Total Land Acreage
Minimum Investment:
$25,000
Offer Deadline:
August 7, 2024
Target Distribution Start Date:
January 31, 2025
Sales Price:
$3,490,000
Zoning:
City Center - Mixed Use
Roof:
Build-up roof, spray on foam, 3M product.
The Biz Hub
UTILITIES
Hot Water Heating- Boilers have been updated. State inspects boilers every 2years
Glessner – security (card readers, fire alarms, smoke detectors)
Antietam Broadband – WIFI to run security cameras
ARC Water Treatment Company
Columbia Gas of Maryland
Hagerstown Light Department
Hagerstown Water & Wastewater Department
Mettel: Security line
Verizon: Elevator Phone
PARKING
There is room behind the building to park, and space on the side of the building. Approximately 20-25 spaces onsite.
Hagerstown’s new parking deck will be located directly across the street and will have 397spaces.
Nearby is ample street parking, a 440 space parking garage at 25 N Potomac and a 185space parking garage at 25 Renaissance Way
17 Years
in business
$3M
Historical Activity
$2M
Assets Under Management
8
Realized Projects
1
Private Offering
The Biz Hub On-Site Live Stream
Join The ARV Land Holdings CEO, Norvan Daniel III, as he offers a behind-the-scenes look at The ARV Land Holdings’ screening of the Biz Hub Apartments - currently open for sale on the Marketplace.
Live Q&A starts on July 16, 2024 at 3pm PT
Live Q&A starts on July 17, 2024 at 9am PT
Property Overview
Address:
100 Summit Ave, Hagerstown, MD
Building Size:
53,514 sq/ft
Year Built:
1979
Property Description:
Multi-use office building with unique design features, including a two-story space ideal for hospitality or restaurant space.
Current Condition:
Recently used as The Press Room event space, with large open office areas and a basement ideal for storage or flex space.
Zoning:
City Center - Mixed Use (CC-MU)
Location Benefits:
Proximity to the new Meritus Park baseball stadium and the construction of a new parking garage directly across the street.
Pre-Recorded Deal Presentation
Recorded with ARV Land Holdings Partners on June 12, 2024.
Live Q&A
ARV Land Holdings Partners answered investors’ questions about this opportunity. Recorded on June 25, 2024.
Why This Deal
Market Opportunity:
Market Analysis: Hagerstown is undergoing revitalization, driven by new developments such as the Meritus Park baseball stadium.
Economic Impact: Increased foot traffic and economic activity in the downtown area.
Target Demographic: Small to medium-sized businesses, entrepreneurs, and professionals.
Competitive Advantage: Comprehensive business support and development services, diverse amenities.
Investment Strategy:
Business Model: Provide a range of business services and amenities, creating a community for business growth.
Revenue Streams: Workspace/office leasing, media and production services, event hosting, catering and food services, fitness and recreational services.
Lease Structure: Flexible leasing options to attract a variety of tenants.
Capital Improvements: Renovation of the building and setup of a full-scale media and production center.
Financial Projections:
Total Annual Operating Expenses: $869,603
Capital Investment for Studio: $1,000,000
Initial Lease-Up Costs: $13,378
Working Capital (3 months of operating expenses): $217,401
Total Capital Needed: $2,100,382
Revenue Projections: Detailed projections for various revenue streams.
Projected NOI: $2,898,397
Cap Rate Analysis:
Baseline Cap Rates:
6% Cap Rate: Required NOI: $209,400
8% Cap Rate: Required NOI: $279,200
10% Cap Rate: Required NOI: $349,000
12% Cap Rate: Required NOI: $418,800
Offering memorandum
Financial reporting
Market research
Risk analysis
Track record
Background checks
Market research
Investor reference check
Economic Impact
Stadium and Team Collaboration:
Coverage
Media & Branding
Promotion
Advertising
Co-Events
Children's Entertainment
City:
Hub for Local Business Growth and Innovation
Tech Hub
Workforce Development
Youth Development and Educational Experience
Mini-Convention & Event Center
Businesses:
Virtual Back Office Headquarters, VBO Hq
Solo to CEO Command & Capabilities
E-commerce Hub
Media & Broadcast Production Hub
Strategic Growth, Growth via Customer Acquisition, and Product-led Innovation
Local Residents:
Workforce & Career Development & Opportunities
Support And Facilitate Local Entrepreneurship
Children's Education & Experiences
Improve Quality of Life and Local Experience
Education & Entertainment
Building Ownership:
Receive Full Asking Price
Lock In Buyer
Cash Flow Asset in 6 months versus Development Timeline or Extended Sale Timeline
Participate In Profit Share
Disposition Asset In 3 Years
The Deal
Opportunity Zone Benefits
Tax Incentives:
Significant tax advantages for investors due to the Opportunity Zone designation.
Investment Growth Potential:
Potential for substantial appreciation and tax benefits.
Long-term Benefits:
Enhanced return on investment through tax incentives and property appreciation.
Project Timeline
Phase 1:
Lease-up and initial capital investment for studio setup (Year 1).
Phase 2:
Incremental improvements and full-scale operations (Years 2-3).
Phase 3:
Continued development and optimization (Years 4-5).
Development Plan
Workspace/Office Concept:
Offer various membership levels and private offices.
Media and Production Services:
Provide state-of-the-art media production facilities.
Event and Convention Center:
Host events and provide catering services.
Fitness and Recreational Services:
Offer a functional fitness center and children’s gaming space.
Collaboration with Baseball Team:
Engage with the community and support local events.
Management Team
Development Team:
Experienced real estate professionals and business strategists.
Management Experience:
Proven track record in property management and business development.
Track Record:
Detailed history of successful projects.
Investment Summary
Equity Investment Needed:
$2,100,382
ROI Potential:
Attractive returns driven by diverse revenue streams and Opportunity Zone tax benefits.
Exit Strategy:
Potential for refinancing, sale, or continued operation with strong cash flow.
The Sponsor | ARV Land Holdings
Founded in 2023, ARV Land Holdings, INC is a Maryland-based investment firm specializing in acquiring, managing, and repositioning, what they consider, well-operated land, multifamily and residential, and commercial properties in and around growing metropolitan markets. They focus on adding value through management of on-site operations that maximize the use and value of the property, accelerate and optimize the cash flow of the asset. Currently, ARV has more than $2 million AUM, of income generating properties located in Maryland and Pennsylvania, and a 10-acre farm in Texas. ARV emphasizes financial performance while improving the value and cash flow of assets.
17 years
In Business
$3M
Historical Activity
$2M
in AUM
8
Realized Projects
1
Private Offering
Get to Know The Hub City Business Hub
In this video, we introduce Tayo Osesina, Managing Partner of
The ARV Land Holdings, as he explains the ARV Land Holdings’ investing approach.
Contact Information
Project Lead:
Norvan Daniel III