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$2,499,000
Est. payment /mo
40,144 SqFt
UPDATED:
12/10/2024 12:52 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 40,144 sqft
Price per Sqft $62
MLS Listing ID MDBA2144130
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $18,735
Tax Year 2024
Lot Size 0.359 Acres
Acres 0.36
Property Description
Rarely available square footage in Baltimore's Station North Art's and Entertainment District. This approx 48,000 gross sf building has exceptionally versatile mixed use IMU-1 zoning and is located in the 2003 Greenmount West Planned Urban Development (PUD). Allowable uses are extensive and range from multi-family, industrial, office, and retail to specialty uses like medical, laboratory, institutional, education, and urban agriculture to name a few. The building consists of 5 stories, including a small basement. The building is served by a center stairwell and freight elevator serving each unit. Additional shaft(s) exist for the potential of lifts. Each floor consists of two 5,000 SF +/- units for a total of 8 units. Additional unit(s) could possibly be added to the lower level. The last use of the building was 6 Multi-Family Live-Work Artist Lofts and collaborative space, 1 large common collaboration unit on the first floor, and 1 first floor unit serving as a parking garage. The property also has a gated storage yard, 2 drive in bays, and 1 loading dock. The building has solid constriction consisting of steel, concrete, brick, and block. window openings, while currently covered by pebble board, are expansive offering a flood of natural light into the building on all sides, and are large enough for the hoisting of furniture and goods. This offering is a short walk from Penn Station, bringing approx 3M commuters per year through the neighborhood and a migration of DC Metro Area workers taking advantage of capital beltway wages and affordable Baltimore living through MARC Train commuting. This creates opportunity to answer the current housing shortage in a value-add property in a neighborhood on the up-swing that is heavy on tax, employment, and financial incentives. Anywhere from 30-50 residential units or more could be possible depending on the unit mix and bedroom count. For the investor looking for a buy-and-hold with minimal relative capital improvements needed: eight 5K sf self-contained units could offer an answer to the neighborhood's shortage of available industrial and retail space for small users, and still create a lucrative gross yearly income. Showings require proof of wherewithal. Non-public information requires NDA. All tours must be accompanied by the Listing agent.
Location
State MD
County Baltimore City
Zoning IMU1
Interior
Hot Water Electric
Heating Forced Air
Cooling None
Heat Source Electric, Natural Gas
Exterior
Garage Spaces 10.0
Water Access N
View City
Accessibility Other
Total Parking Spaces 10
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID NO TAX RECORD
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Listed by Jason S Lusby • Keller Williams Gateway LLC
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