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Wareham Building in downtown Hagerstown to be auctioned

May 20, 2008|By DAN DEARTH

HAGERSTOWN -- The Wareham Building at 138 W. Washington St. in Hagerstown is to be auctioned to the highest bidder June 5.

Jeff Stein of Tranzon Fox, a national firm of auctioneers and real-estate brokers, said the building, which is about 21,000 square feet, would offer a great opportunity for retail, residential or office use. The four-story structure is commercially zoned and features an elevator and a two-story parking garage with more than 50 spaces, he said.

"I think it's an excellent opportunity for someone to pick up a large building in downtown Hagerstown," Stein said. "It makes good economic sense."

Stein said the building would have to be renovated, and a site assessment is available with a report that provides the levels of asbestos in and around the property.

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Stein said he didn't want to estimate how much money the building would bring at auction.

"We'll let the market determine the price," Stein said. "It's what the buyer thinks it's worth."

The building is owned by Washington Street LLC of Olney, Md., according to Washington County land records. It was purchased in 2006 for $1.1 million.

Washington Street LLC could not be reached Monday to comment about its intent to sell the building.

Prospective buyers may tour the building May 22 and 29 from 11 a.m. to 1 p.m., and one hour before the auction.

If you go ...



What: Wareham Building auction

Where: 138 W. Washington St., Hagerstown

When: June 5, 11 a.m.

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