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Listed by Menachem M. Dalfin • Midfield Realty
$2,445,000
Est. payment /mo
17,100 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 17,100 sqft
Price per Sqft $142
Subdivision Belvedere Square
MLS Listing ID MDBA2171492
Year Built 1958
Annual Tax Amount $31,766
Tax Year 2024
Property Sub-Type Retail
Source BRIGHT
Property Description
This 27-unit mixed-use property, with only one vacant unit, presents a compelling investment opportunity, boasting an 11% cap rate from day one. The property features under-market rents, providing new ownership the ability to increase income and enhance returns further. With significant potential for rental growth, this asset offers an immediate chance to add substantial value.
Strategically located near major transit lines, the property benefits from proximity to prominent institutions, including Loyola University Maryland, Johns Hopkins University, Johns Hopkins Hospital, and MedStar Union Memorial Hospital, driving strong tenant demand. The surrounding area is rich with amenities, including major banks such as PNC Bank, Wells Fargo, and Bank of America, as well as convenient shopping destinations like The Rotunda Shopping Center and Towson Town Center.
The two-story building comprises a mix of retail and office spaces, complemented by dedicated parking in the back. Recent improvements, including a newly updated roof, ensure minimal maintenance costs for years to come. Additionally, the property's Enterprise Zone designation provides valuable tax advantages, further enhancing its appeal to investors.
Strategically located near major transit lines, the property benefits from proximity to prominent institutions, including Loyola University Maryland, Johns Hopkins University, Johns Hopkins Hospital, and MedStar Union Memorial Hospital, driving strong tenant demand. The surrounding area is rich with amenities, including major banks such as PNC Bank, Wells Fargo, and Bank of America, as well as convenient shopping destinations like The Rotunda Shopping Center and Towson Town Center.
The two-story building comprises a mix of retail and office spaces, complemented by dedicated parking in the back. Recent improvements, including a newly updated roof, ensure minimal maintenance costs for years to come. Additionally, the property's Enterprise Zone designation provides valuable tax advantages, further enhancing its appeal to investors.
Location
State MD
County Baltimore City
Zoning C-2
Interior
Hot Water Other
Heating Forced Air
Cooling Central A/C
Flooring Fully Carpeted, Carpet
Heat Source Natural Gas
Exterior
Garage Spaces 20.0
Utilities Available Water Available
Water Access N
Accessibility None
Total Parking Spaces 20
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0327645093C004
Ownership Other
Special Listing Condition Standard
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